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1 Day Course: CRS & FATCA Compliance & Reporting -
[July 12, 2018]

1 Day Course: CRS & FATCA Compliance & Reporting -

The "CRS & FATCA Compliance & Reporting" training has been added to's offering.

The introduction of US FATCA (Foreign Account Tax Compliance Act) in 2010 saw a clamp down on US citizens evading tax by imposing a 30% withholding tax penalty, an initiative that was to change the face of the fight on financial crime. This regulation has spread and triggered similar initiatives on a global level and in particular the introduction of Common Reporting Standard (CRS) by the Organisation for Economic Co-operation and Development (OECD), a wider global tax transparency initiative.

In February 2014, G20 finance ministers and governors endorsed the CRS as the new global standard for the Automatic Exchange of Information (AEoI). On May 6, 2014, forty-seven countries tentatively agreed on the CRS initiative, an agreement to share information on residents' assets and incomes automatically in conformation with the standard. CRS employed a bigger part of the existing FATCA model but with a far ambitious reach.

This practical 1 day couse provides a thorough examination of both regimes, presenting a comparative review and analysis of key differences and common areas. You will learn about the requirements and solutions for complying with both regimes as well as about the key classifications, definitions and evaluations. Conducted by a practitioner who worked on FATCA and CRS implementation projects at some of the major institutions the course provides real-life examples and case studies.

Key Topics Covered

  • Background to the FATCA/CRS reporting requirements
  • Impact of FATCA/CRS on the Financial Services Industry
  • Scope of FATCA/CRS Reporting
  • Review and comparison of FATCA vs. CRS
  • Reportable information and timelines
  • Definition of Reporting Financial Institutions, classification and evaluation of different cases
  • Review of Non-Reporting Financial Institutions
  • Definition of Reporting Financial Accounts, classification and evaluation of different cases, exemptions
  • Identifying Reportable Accounts
  • Customer identification and classification process
  • Due Diligence Process
  • Creating Rulemap
  • Best practices in working with and complying with requirements
  • Governance: roles & responsibilities
  • Reporting solutions considerations
  • Key parameters for decision making
  • Business model consideration
  • Data Standards and Importance of Reference Data
  • Project setup, milestones, attention points
  • Controls over the reporting
  • Key success factor for delivering FATCA/CRS
  • Implementation challenges

For more information about this training visit

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