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Course Name
Course Code : REC45
Venue Details
Postal Code : T12 WY42
Session Dates
Duration: 3 days (21 hours)
This course provides a comprehensive understanding of the Foreign Account Tax Compliance Act (FATCA) and its implications for financial institutions and professionals. Participants will gain insight into the legal framework, due diligence procedures, reporting obligations, and penalties associated with FATCA non-compliance. The course emphasizes practical application, ensuring participants are equipped to manage FATCA responsibilities effectively within their organizations.
Overview of FATCA: Origin and Purpose
Key Definitions: FFI, NFFE, U.S. Persons, and Specified Accounts
FATCA vs CRS (Common Reporting Standard)
Impact of FATCA on Global Financial Institutions
FATCA Registration and GIIN
Due Diligence Procedures: New and Pre-existing Accounts
Documentation Requirements: W-9, W-8BEN, etc.
FATCA Reporting: Form 8966 and Reporting Timelines
Withholding Obligations and Penalties for Non-compliance
Risk Assessment and Internal Controls
Integrating FATCA into KYC/AML Procedures
Technology and System Requirements
Role of Compliance Officers and Staff Training
FATCA Audits and Remediation Measures
Mode of Delivery : The event can be attended both online and at nearby ProgNXT classroom by Individual Professionals and Corporate Employees as per the seat availability. Please Contact Us at [email protected] for checking the seat availability
Audience : We have a global audience that logs in to using their own computers to work hand in hand with our world-class instructors.
Assessment : Each training course will have ProgNXT Assessment at the end.
Certification : After successful passing of ProgNXT Assessment, ProgNXT Certification will be provided, which has got acceptance in 55+ Countries.
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