Under FATCA all foreign financial institutions must disclose U.S. account holders and their account activities. Failure to comply with FATCA will be costly and may subject foreign financial institutions to a 30% withholding tax on U.S.-sourced payments.
If you are not certain or are at a loss as to what you have to do and how this has to be done, this one-day training course is for you.
This practical course will provide all participants with;
- A sound understanding of FATCA,
- How to identify a ‘US person’ (not simply a US citizen but a much wider scope),
- What ‘US indicia’ are and how they are to be applied,
- An understanding of difference between existing and new accounts at 1 July 2014,
- What the FATCA reporting requirements are (what is reported, how is it reported, when it is reported and to whom),
- An understanding of the progressive reporting requirements over the next several years,
- What due diligence is in the FATCA sense,
- How due diligence is to be performed,
- What constitutes ‘acceptable’ documentary evidence,
- What ‘self certification’ is and how it is accomplished,
- Which financial products are to be reported on,
- Which financial products and services are exempted from FATCA reporting,
- Where to obtain ongoing guidance and clarification ... and much more
For details of each event (and to Register) please click on the link specific to your desired location.
DUBAI – 24 February 2015
The Dubai course provides a standard of best practice and examines the FATCA Model 1 Intergovernmental Agreements for a range of other countries.
LONDON – 18 March 2015
The London course complies with the FATCA requirements and guidance as set out by HMRC.
Places are limited! Register NOW!