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