Skip to main content

The Foreign Account Tax Compliance Act (FATCA)


                              David E Sanders PhD
Dr. David is Keynote Speaker at Compliance key Inc.and is considered one of the worlds leading experts in accounting, finance, accounts payable, accounts receivable, budgeting, collections, cost accounting, personal finance, personal income taxes, business taxes, business set up, sales & use taxes. internal controls, inventory management, cycle counting, record keeping and vendor, supplier management. 
Webinar Id: CIFTDS001
Time 10:00 AM PDT | 01:00 PM EDT
Date: 10/06/2017
Duration 90 mins 
Overview
  • The Foreign Account Tax Compliance Act (FATCA) is a US law aimed at foreign financial institutions (FFI's) and other financial intermediaries to prevent tax evasion by US citizens.
  • This training course will give you an understanding of the recent issues and a standards which are part FATCA reporting. As companies enter into arrangements with their global counterparts, a understanding of FATCA has become increasingly important
  • It is understood that America's global tax law is now being enforced. FATCA requires foreign banks to reveal Americans with accounts over $50,000 and considering the risks of being frozen out of U.S. markets, everyone is complying. 
  • FATCA applies to both financial and non-financial operating business. FATCA could apply to your business?There is no threshold.
  • The processes for customers will have to be amended to take into account the information required under FATCA.
  • FATCA represents a complex and costly compliance task for financial services firms globally by the US tax authorities. It includes changes in the account opening processes for new customers to take into account the new information required under FATCA.
  • Insurers and insurance brokers will have to comply with new information gathering and reporting rules when U.S. insurance and reinsurance premiums are sent outside the U.S.
  • All firms must determine if they wish to continue to do business with US customers and whether they wish to continue to trade in US assets. If they wish to continue, they will need to enter into an agreement with the IRS (Internal Revenue Service) and comply with certain reporting requirements. FATCA is in process, and is already being implemented. 
  • The objective of this seminar is to give a comprehensive overview of the requirements so that Non-US firms understand if FATCA applies to them and if so do they wish to continue to work with US based payments, even pass through payments.
Why should you attend this webinar?
  • How to obtain clearly for FATCA and the impact globally.
  • How the protocol for registration of legal entities into the IRS portal will work
  • Learn a good working knowledge of the FATCA standards, and challenges of FATCA 
  • Help you assess your existing systems 
  • How to clarity issues surrounding FATCA
  • How these standards are applied so you can apply them to your own business: Help you implement processes to classify new entities and perform updates
  • All firms must determine if they wish to continue to do business with US customers and whether they wish to continue to trade in US assets. If they wish to continue, they will need to enter into an agreement with the IRS (Internal Revenue Service) and comply with certain reporting requirements. 
  • Understanding of the current proposal and how these will impact the businesses
  • IRS Form 8957, IRS Form W9
Areas Covered in the Session:
  • The reasons for FATCA and the impact globally.
  • Protocol for registration of FATCA
  • Working knowledge of the FATCA standards
  • Challenges of FATCA 
  • How these standards are applied
  • How to implement the processes 
  • Understanding of the current proposal 
  • Understand the impact to the businesses
  • IRS Form 8957, IRS Form W9, How to obtain a GIIN
Who can Benefit:

  • All professionals who want to expand their knowledge in FATCA
  • Financial reporting staff of large organizations and entities 
  • Auditors, Financial Controllers, Tax Professionals, Accounting & Finance Departments
  • Business Owners, Department Managers, Business and Financial Analysis
  • Corporate Financiers and Investment Bankers
  • All firms who wish to continue to do business with 
  • All companies if they wish to continue to trade in US assets

Compliance Key INC
717-208-8666
Labels:
Location: United States

Comments

Post a Comment

Popular posts from this blog

New 2019 HIPAA Guidance on De-Identifying Protected Health Information

Compliance Key  -   HIPAA Compliance Training Overview This seminar will be addressing how practice/business managers or compliance officers need to get their HIPAA house in order, as HIPAA is now fully enforced and the government is not using kid gloves anymore. It will also address major 2019 changes taking place with the Health and Human Services regarding the enforcement of the HIPAA law as well as detailed discussions on the Phase 2 audit process and current events regarding HIPAA cases (both in courtrooms and from real-life Audits). Our instructor - Mr. Brian Tuttle  has over 20 years of experience in working as Compliance auditor and has been an expert witness on multiple HIPAA cases. He`ll thoroughly explain on HOW and in WHAT scenarios patients can claim for cash remedies. More importantly, Brian will show you how to limit those risks by simply taking proactive steps and utilizing best practices. Why should you attend this seminar? This Sem...
Post a Comment
Read more

Classifying Medical Devices in US and EU

Compliance Key INC  -  Healthcare Compliance Webinars Overview The Food and Drug Administration (FDA) has established classifications for approximately 1,700 different generic types of devices and grouped them into 16 medical specialties referred to as panels. Each of these generic types of devices is assigned to one of three regulatory classes based on the level of control necessary to assure the safety and effectiveness of the device.The determination process, how you apply the classification process to your device, is complex and requires several levels of analysis to make the proper device classification. Proper medical device classification is the fundamental first step in submitting your device for approval anywhere in the world. This webinar will detail the medical device classification process for the United States through the FDA and will overview the very complex process for medical device classification within the EU. Specifically, this webinar will provid...
Post a Comment
Read more

HIPAA Compliance with the New Omnibus Rule: How to Pass an Audit to Avoid Penalties and Criminal Convictions

Compliance Key INC  -  H ipaa webinar                                           Jonathan P. Tomes Jonathan P. Tomes , J.D., is Keynote Speaker at Compliance key Inc. He is a health care attorney practicing in the greater Kansas City.   Webinar Id:   HIPHJPT001  2:30 PM PT | 03:30 PM ET    01/18/2018  Duration: 60 mins  Overview Before the HITECH Act, DHHS could audit covered entities for HIPAA compliance, but did not have to. With that Act, now the must audit those entities and business associates as well. In the first audits, the Phase I audits, DHHS came on site. The subsequent Phase II audits, however, were paper audits in which those audited had to provide documentation of their compliance. As yet, we do not know what form Phase III will take, but the necessary actions to prepar...
Post a Comment
Read more