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FATCA Compliance

Preparing for the Challenges Ahead

The Foreign Account Tax Compliance Act ("FATCA") is likely the most far-reaching statute to combat offshore tax evasion in recent history. FATCA mandates a foreign financial institution ("FFI") to identify accounts owned by, or for the beneficial interest of, a United States taxpayer to the Internal Revenue Service, or suffer a 30% withholding tax on certain payments. The identification of affected accounts sounds simple, but it will likely require coordination by FFI personnel across business lines and around the globe.  Here we’ll explore what foreign financial institutions should do now to begin the process of building a FATCA compliance system.

Perspectives

FATCA FINDSM

An overview of Navigant's FATCA FIND solutions - developed specifically to perform and expedite FATCA’s pre-existing account review requirements.

 Link
FATCA Highlights

The first edition of Navigant’s FATCA Highlights summarizes some of the key considerations of the recently released Proposed FATCA Regulations and implementation issues concerning FATCA compliance.

 Article / White Paper
The Foreign Fund's FATCA Dilemma: Meeting Your Responsibility by Coordinating with Third Party Service Providers

In the fourth of our FATCA series, Ellen Zimiles, Richard Kando and Jeffrey Locke discuss foreign funds' specific and unique concerns when implementing FATCA, including operating model implications, impact assessments, and coordination with third party service providers.

 Article / White Paper
Meeting the New FATCA Deadlines: A Phased Implementation Approach to Compliance

In the third in our FATCA series, Ellen Zimiles, Richard Kando and Jeffrey Locke give a high level overview of the latest FATCA guidance to help organizations assess their current implementation plan and make the necessary changes in accordance with Notice 2011-53.

 White Paper
FATCA: Take 2 Are You Ready to Certify FATCA Compliance?

In the second of our FATCA series, Ellen Zimiles, Richard Kando and Jeffrey Locke discuss the implicatins of Notice 2011-34 and what companies can do now to prepare for FATCA compliance.

 Article / White Paper
ON DEMAND: The Foreign Account Tax Compliance Act ("FATCA") - Combating Offshore Tax Evasion

This audio webinar provides an overview of FATCA and examines the legal and regulatory impacts on foreign financial institutions and what attorneys should consider as they advise their clients on FATCA compliance.

 Webcast
Turning Up the Heat on Offshore Account Holders

In this New York Law Journal article, Jeffrey Locke and Richard Kando provide an overview of FATCA, including, its effect on foreign financial institutions (“FFIs”), passthru payments, issues surrounding global bank secrecy and data protection, and the options offshore account holders have and risks they could face.

 Article / White Paper
Wave of Regulation

In this article, which appeared in the Securities & Investment Review, membership magazine of the Chartered Institute for Securities & Investment, Navigant Director Jeff Locke is quoted on what the US’s Foreign Account Tax Compliance Act (FATCA) will entail for foreign financial institutions (FFIs).

 Article / White Paper
FATCA Preparation: What Financial Institutions can do to Get Started (Spanish Version)

In this podcast, Alfonso Montemayor outlines the steps that all foreign financial institutions should start as soon as possible, if they have not already started, to prepare for the implementation of FATCA.

 Audio
FATCA Compliance Preparing for the Challenges Ahead

This presentation addresses ongoing criminal tax matters, FATCA’s effective date and affect on foreign and U.S. financial institutions. In addition, you will learn the top 10 things you need to know about FATCA now.

 Conference Presentations
A Short Guide to FATCA

The government’s efforts to combat tax evasion have culminated in the Foreign Account Tax Compliance Act. We discuss the steps financial institutions should consider taking today to build a compliance program to prepare for FATCA's enactment in 2013.

 Article / White Paper
Uncle Sam Enlists Banks in Tax Battle

Ellen Zimilies provides perspective around the Foreign Account Tax Compliance Act (FATCA) in this article by American Banker.

 Article / White Paper

Experts

Richard Kando

A Director in the Global Investigations & Compliance segment and FATCA task force co-leader, he assists clients with litigation, anti-money laundering and regulatory compliance related matters.

Jeffrey B. Locke

Mr. Locke is a Director in the Global Compliance & Investigations segment. With over 10 years investigative experience, he specializes in financial and fraud investigations, asset misappropriations and is FATCA Task Force co-leader.

Ellen Zimiles

Managing Director, Head of Global Investigations & Compliance segment, she is a leading authority on anti-money laundering, regulatory and corporate compliance, fraud control, and public corruption matters.