With US FATCA legislation now published, the major focus is now on Reporting Solutions Considerations that are effective but not commercially onerous or operationally disruptive.
A number of key drivers for success continue to impact the consistency and methods of how new accounts are opened, the Know Your Client (KYC) process, data management, income identification, financial accounts identification, and to a larger extent business processes that support customer identification, classification and disclosure. What solution is key to the success of FATCA Reporting? Are their economical benefits in the segregation of US activities or re-organizing business functions to achieve compliance easily?
A multiple choice test will be performed at the end of the course to consolidate and check participants' knowledge.
Topics Covered During This Training
- FATCA Reporting scope and process
- Who is obliged to report and exemptions
- Customer identification and classification process
- FATCA Due Diligence & Registration Process
- Creating FATCA Rulemap
- What Income type needs to be reported
- FATCA reporting scenarios
- FATCA Verification of Compliance and Anti Avoidance
- Best practices in complying with FATCA
- Governance, roles & responsibilities
- Business model consideration
- Data Standards and importance of Reference Data
- Project setup, milestones, attention points
- Controls over FATCA Reporting
- Key Success factor for delivering FATCA
- FATCA implementation challenges: governance, IT infrastructure, data aggregation and reporting practices
- Comparison with CRS - Common Reporting Standards
For more information about this conference visit http://www.researchandmarkets.com/research/4gdr8l/fatca_compliance