FATCA - Implications, Changes and How to Implement in a Foreign Financial Institution

This training on Foreign Account Tax Compliance Act (FATCA) will highlight the evolution of the Act and its current regulations. It will also provide attendees practical and effective methods for solid FATCA implementation along with tools for identifying FATCA specific complexities in order to avoid enforcement actions.

Why Should You Attend:

FATCA delivers to the global financial world a set of specific Know Your Customer (KYC) enhancements that may not be required or practiced in specific jurisdictions outside of the United States. Effectually, FATCA creates the first standardization of global KYC and compliance. The complexities of FATCA such as withholding of funds or identification of customers with dual citizenship to the handling of certain client types make proper FATCA implementation difficult.

This webinar will examine the creation of FATCA, its final and current regulation and its direct impact on the global financial industry. It will enhance attendees’ practical knowledge on effective FATCA implementation and will discuss how to identify obligations and required actions to be taken. It will also look into remediation processes for existing clients and intergovernmental agreements (pros and cons).

This course will also address how to implement the specific provisions of FATCA, how to train your staff and the front office line of staff.

Areas Covered in the Webinar:

• Creating a FATCA compliance program
• Understanding the requirements of FATCA and the FFI’s responsibility
• FATCA training and sound training practices
• Establishing a remediation program and the steps within
• Data analysis
• Resource development and training
• Project management
• Identification
• Reporting
• Retention and management of foreign clients
• Banking case study of current FATCA approach
• Preparation for additional global jurisdictional FATCA equivalents

Who Will Benefit:

This FATCA training will provide valuable assistance and guidance to following personnel in the banking and financial services industry:

• Compliance officers
• Risk officers
• Internal auditors
• Operational risk managers
• FATCA identified responsible officers
• Board of director members
• Third party consultants
• Florida international bankers association
• California international bankers association