FATCA and CRS Specialist Course

Foreign Account Tax Compliance Act (FATCA), is a law that requires U.S. citizens living at home or abroad to file annual reports on any foreign account holdings they have. The main goal of FATCA is to stop tax evasion.

This program will assist you in understanding FATCA & CRS and how exactly you can implement their requirements, including Registration, Documentation, Due diligence, Implementation and reporting. Everything is explained easily in detail and followed with examples and cases studies.

Learning Objectives

Understanding FATCA

• What is FATCA Exactly?
• Purpose of the FATCA regime
• The Scope of the Act
• Non-Compliance Consequences
• Types of FATCA Agreements
• Understand your responsibilities
• FATCA Governance Framework
• Registration and recertification steps.

Understanding CRS

• CRS Background
• Analyze the CRS requirements
• The differences between CRS and FATCA

FATCA and CRS In Practice

• How to Start?
• Who is subject and who is not?
• Build your database structure
• Remediate Your institutions’ pre-existing Accounts
• Design & change Your customer onboarding process and KYC forms.
• Due-diligence procedures & Reasonableness tests.
• Tax Evasion Practices (Be Aware)
• How to deal with special Cases (Minor Accounts, Joint Accounts, POA, etc.)
• Recalcitrant Accounts and how to act