Compliance Overview: Reporting Requirements for Businesses

Presented on:
May 2, 2019 11:00 AM PT
Duration:
1 hour
Location:
Online

The Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS)—two Automatic Exchange of Information (AEOI) reporting regimes—remain a challenge for US- and foreign-financial institutions (FIs) that are trying to properly document and report account holders.

Some jurisdictions are still determining methods for collecting and validating compliance data, but they’re expected to begin enforcement efforts for noncompliant FIs in the near future. How can your organization decrease the burden of year-end reporting while avoiding scrutiny from the jurisdictions it’s reporting to?

In this on-demand webcast, we review the current state of CRS and FATCA. We cover steps of the reporting process, address common reporting issues, and discuss requirements for meeting AEOI reporting requirements.

We also cover the following key points:

  • The purpose of FATCA and CRS
  • Requirements for reporting under each regime
  • Account holders and other persons that must be included in the reporting
  • Common pitfalls of AEOI reporting
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Speakers

Erin Fennimore, Director, Moss Adams

Erin provides consulting services in the area of information reporting and withholding, focusing on the 1441 Regulations, the Foreign Account Tax Account Compliance Act (FATCA), and the Common Reporting Standard (CRS). While she primarily focuses in the private equity and venture capital sector, Erin has been involved in all aspects of advising both multinational corporations and financial institutions on compliance with information reporting and withholding regulations. She has also led several audit related engagements relating to IRS reporting penalties under the 1441 regulations.

Jill Dymtrow, Director, Moss Adams

Jill has assisted clients with information reporting and withholding obligations since 2000. She has extensive experience guiding US and foreign withholding agents through complex technical compliance issues involving sections 1441 and 3406, Foreign Account Tax Compliance Act (FATCA), and the Common Reporting Standard (CRS). In addition to serving large US and offshore banks, she’s worked with investment management firms, energy, pharmaceutical, entertainment, and biotech companies.

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Applicable Industries

Asset Management & Broker-DealersConsumer & Specialty FinanceFinancial Institutions