FATCA Essentials
Learning Objectives
- Understand the purpose and scope of FATCA.
- Identify U.S. accounts and entities subject to FATCA reporting.
- Recognise key FATCA classifications such as FFI, NFFE, exempt beneficial owners.
- Apply FATCA due diligence and documentation requirements.
Course Description
This course provides a comprehensive introduction to the Foreign Account Tax Compliance Act (FATCA) and its implications for financial institutions, employees, and clients. Designed for professionals working in compliance, finance, and client onboarding roles, this course demystifies the key requirements of FATCA, including due diligence, account classification, reporting obligations, and the concept of withholding.
Key Topics
- FATCA
- U.S. Persons
- Foreign Financial Institutions (FFIs)
- Non-Financial Foreign Entities (NFFEs)
- Intergovernmental Agreements (IGAs)
- Account Holder Identification
- Due Diligence Requirements
- FATCA Classifications
- Reporting Obligations
- IRS Reporting (Form 8966)
- FATCA Withholding (30% rule)
- Exempt Beneficial Owners
- W-9 / W-8 Forms
- Recalcitrant Accounts
- Penalties
- Risk-Based Approach
- Relationship Manager’s Role
- Data Privacy Considerations
Course Duration
45 minutes + 15 minutes for the final test
Languages, Region & Type
Languages: English |
Region: Global |
Type: Standard
Course Price
£95
£95