Overview
FATCA (Foreign Account Tax Compliance Act) is a US law designed to detect tax evasion. It requires banks, corporations, insurance companies, trusts, and other financial institutions abroad to report information on their US clients.
This instructor-led, live training (online or onsite) is aimed at financial professionals in US and non-US institutions who wish to understand the legal, compliance and enforcement aspects of FATCA to maintain compliance with US tax authorities (IRS).
By the end of this training, participants will be able to understand:
- FATCA’s impact on global tax compliance and financial transparency.
- FATCA’s due diligence and reporting requirements.
- FATCA’s most important legal aspects and how to ensure compliance.
Format of the Course
- Interactive lecture and discussion.
- Exercises and practice.
Course Customization Options
- To request a customized training for this course, please contact us to arrange.
Requirements
- An understanding of tax concepts.
Audience
- Professionals in financial institutions worldwide.
Course Outline
Introduction
- Financial crime and how FATCA (Foreign Account Tax Compliance Act) came to be.
Overview of FATCA Compliance Program
FATCA’s Key Provisions
Case Study: Responding to FATCA across Different Countries
Institutions, Governments and Customer Entities
FATCA’s International Framework
FATCA Reporting Requirements
Staying Compliant
Penalties for Non-compliance
FATCA Registration
FATCA Forms
Special Case Scenarios
Summary and Conclusion
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