INTRODUCTION TO FATCA

Target Audience:
Individuals new to FATCA interested in the latest developments in the Financial Services Industry

Duration:
90 Minutes

Language:
English

The Foreign Account Tax Compliance Act (FATCA) is a US law intended to combat tax evasion by US taxpayers who hold investments in offshore accounts. The purpose of this course is to help you gain a basic understanding of FATCA and its impact for employees working in Financial Institutions.

Learning Objectives

Once you complete this course you will be able to:

  • Define FATCA and the Inter-Governmental Agreements(IGAs)
  • Describe the steps Foreign Financial Institutions (FFIs) need to take to comply with FATCA/IGAs
  • List the consequences of not complying with FATCA and IGA regulations
  • Classify entities as FFIs and Non-Financial Foreign Entities (NFFEs)
  • Describe the FATCA/IGAs compliance steps of FFIs and NFFEs
  • Identify the FATCA/IGA Due Diligence rules for different types of Account
  • Identify US Accounts using information on US indicia
  • Describe the reporting requirements applicable to FFIs under an IGA Model 1 and IGA Model 2

This course includes

Animations


Interactive Activities


Infographics


Evaluation


Certificate of Completion