FATCA QI Iceland

Managing FATCA and QI Compliance Challenges

This course will equip you with the essential information you need to start aiming for FATCA compliance. The course will provide context for the evolving FATCA administrative guidance while providing practical explanations of the FATCA rules. Participation of the attendees is encouraged thus maximizing focus on aspects of general interest to the participants and providing insight from peers regarding FATCA implementation strategies and challenges.

Session I: Introduction to FATCA

• FATCA demystified: Overview of the regime and explanation of its goals and aims
• The current state of FATCA legislation, what can we expect, and definitions, definitions…
• Leveraging QI experience to achieve efficient FATCA implementation and compliance
• Workshop

Session II: Understanding the FATCA schema and the due diligence requirements

• Client classification under the FATCA proposed regulations
• FATCA due diligence mechanics and time-line
• Changes likely to be introduced under a FATCA Intergovernmental Agreement
• Q&A

Session III: Managing the FATCA impact on clients, counterparties and your organisation

• The FFI Agreement, withholding and IRS reporting requirements
• IRS disclosure: The risks to US clients
• Changes required to ensure FATCA compliance: systems, client on-boarding, data management, tax and compliance
• Workshop

Session IV: The challenges of FATCA implementation

• The FATCA implementation project and how to maximise your role in the PMO
• Managing the FATCA implementation project in the face of evolving IRS regulations and the FATCA Intergovernmental Agreement
• Q&A

Day 2 – QI

Session I: Essential Knowledge

Session II: QI Documentation

• Documentation: Backbone of the QI regime
• The W-8 series of IRS forms and KYC documentation
• Special problems with documenting US clients
• Q&A

Session III: QI Reporting and Withholding

• Overview of annual US tax reporting, deadlines and extensions
• Forms 1042, 1042-S and 1099
• Withholding NRA tax
• IRS payments and refunds
• Workshop

Session IV: QI Compliance Procedures: Audits and Waivers

• Overview of the QI Audit and QI Audit Waivers
• How to take control of your organization’s QI Audit
• Renewal of the QI Agreement and likely changes to the QI Agreement in order to synchronize QI and FATCA
• Q&A

How do I secure my place?

Call us now on +44 (0)207 336 4600 or email events@osneymedia.com for more information and to book your place.

Companies who have benefited from previous Osney Media tax courses:

ABN AMRO Bank the Netherlands, ABN AMRO Bank UK, Alpha Bank, Amagerbanken A/S, Banco Bradesco Luxembourg S.A., Bank Leumi, Bank of England, Banque Degroof Luxembourg S.A., Banque LBLux S.A., Barclays, Barclays Capital, Barclays Wealth, BNP Paribas Luxembourg, BNP Paribas Securities Services, BNP Paribas UK, Brewin Dolphin, Carnegie Investment Bank AB, Corporation of Lloyds, Credit Suisse Private Banking Luxembourg, Daiwa Securities Trust & Banking, Danske Bank, Danske Bank International S.A., Deloitte Luxembourg, Deutsche Bank London, Dexia Banque Internationale Luxembourg, Dresdner Kleinwort, DZ BANK International S.A., EFG Eurobank Ergasias Bank S.A., Finansbanken A/S, Forstædernes Bank, Geniki Bank, Goldman Sachs International, Goodbody Stockbrokers, HSBC UK, HSBC Securities Services Luxembourg, HSH Nordbank Securities S.A., HVB, ING Bank the Netherlands, Investec Ireland, Irwin Mitchell Solicitors, JP Morgan Chase, KAS Bank N.V., Kaupthing Bank, Killik & Co., Marfin Egnatia Bank, Marfin Laiki Bank, Mellon Europe, Merrill Lynch, Millennium Bank, Mizuho International, Morgan Stanley, Nordea Bank Denmark A/S, Nordea Bank Finland, Nordnet Bank AB, Nykredit Bank A/S, OMX Securities, Paloma Securities London Limited, Piraeus Bank S.A. Greece, Rathbones, RBC Dexia Investor Services Luxembourg, Rensburg Sheppards, Ruffer Investment Management Limited, Sal. Oppenheim jr. & Cie. Luxembourg S.A., SEB, Société Générale, Swedbank Luxembourg S.A., Swedbank AB, TD Waterhouse Investor Services Europe…