At this webinar, the subject matter experts talked about how to remain compliant with FATCA reporting by reading on to understand what FATCA reporting entails and how it can be achieved in accordance with IRS regulations.
The U.S. Foreign Account Tax Compliance Act requires financial institutions (Such as Banks, Brokerage firms, Financial Investment entities, and specified insurance companies) in other countries to report to the IRS information about financial accounts held by U.S. taxpayers.
Non-U.S. financial institutions (known as Foreign Financial Institutions - FFIs) are required to report U.S. persons' account information directly to the IRS or their competent local authority if the country has an Intergovernmental Agreement (IGA) with the IRS.
In this webinar, the speakers highlighted the differences between FATCA and CRS and presented many interesting cases.
GCI Advisory Panel Member Justin Muscolino moderated this webinar along with our subject matter experts Ross McGill, Peter A. Cotorceanu, Sanjay Prabhu, and Natalie Dowling.
What's it all about? What are we getting right? What are the implications of getting it wrong? How are things evolving, and how are we changing our approaches to ensure compliance?