The ISDA 2010 Short Form Hire Act Protocol (the “Protocol”) offers market participants an efficient way to amend their Covered ISDA Master Agreements to reflect amendments to the U.S. tax law resulting from the enactment of the HIRE Act (the "Act") on March 18, 2010 lessening the administraive burdens involved with amending a large population of pre-existing Standard ISDA Documentation. The Act imposes US withholding tax on payments made on any swap made after September 14, 2010 regardless of when the swap was entered into.
Please refer to the "Frequently Asked Questions" below for more information on both the Protocol substance and the adherence procedure.The Protocol is open to ISDA members and non-members. There is no cut-off date to this protocol. ISDA does however reserve the right to designate a cut-off date by giving 30 days notice on this site.