FATCA
Protect the bank against misapplication of FATCA
rules
The situation
Obligations relative to the FATCA (Foreign Account
Tax Compliance Act) regulations result from increased
reinforcement of the provisions enacted by the IRS (the
American tax administration) following measures of
avoidance of tax obligations by US customers, notably
carried out by Swiss banks. The obligations of diligence
resulting from the FATCA must be scrupulously respected
and must be supported by adequate training.
The risks
The relationship manager must follow the obligations
resulting from the FATCA (Foreign Account Tax
Compliance Act). Identification of the customer (US,
non US), the obligation to document and obligations
with regard to reporting constitute the core rules to
which banks are subject. Any error or violation leads to
measures for which banks risk high penalties.
The solution
This training is intended to train and increase the
quality of diligence required when beginning the
business relationship, its follow-up and its closing.
The documentation produced must respect the US
requirements in an irreproachable manner.
Public
Relationship Managers and their assistants.
Duration
This online training lasts 40 minutes.
Languages
French, German, Italian, English.
Content
5 modules :
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•
•
•
•
Introduction
The automatic exchange of information
Identification duty with respect US and non US
Clients
Due Diligence
Documentation and reporting
Test
10 questions selected at random.
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