FATCA: How to Comply with Minimal Withholding, Tax, & Penalty Impact (Completed)

FATCA was enacted by Congress in 2010 as part of the HIRE Act. It attempts to restore tax fairness by focusing on foreign financial assets of US Citizens that are not being properly reported and taxed. With the announcement of final regulations in February, 2013, the US Department of the Treasury and the IRS have been busy designing, implementing and executing intergovernmental agreements, new and revised forms, and instructions to force US Citizens and foreign financial institutions into compliance. Don’t be the last one to learn of your reporting and withholding obligations and don’t fall victim to the huge penalties that can accrue for noncompliance. Join us for this complicated law and how to comply with your withholding and reporting obligations.

Who Should Attend
Tax Officers, CFO’s, Compliance Officers, and Risk Managers of international businesses or dealing with U.S. persons abroad, Foreign Financial and Non-financial Institutions, U.S. Financial and Non-financial Institutions with foreign business activities or affiliates, and advisers of U.S. persons with assets located in foreign countries.

Topics Covered

• Discuss the basic principles of FATCA
• Affected businesses and individuals
• New agreements and guidelines
• New & revised forms required to effect compliance
• Simplifying charts and tables to help you determine the steps to full compliance
• Practical instruction and guidance for applying FATCA
• Key issues that will help you avoid potential penalties for noncompliance

Learning Objectives

• Differentiate reporting and withholding obligations
• Avoid falling victim to huge penalties that can accrue for noncompliance
• Recognize how to comply with your withholding and reporting obligations

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None