Last updated on 30 January 2017

MAJATTORNEY offers consulting services to financial institutions with regards to regulatory implementation and compliance and in particularly with regards to the regulatory frameworks, Foreign Account Tax Compliance Act (FATCA) and, Common Reporting Standard (CRS) (requiring foreign financial institutions to obtain FATCA status and report their foreign account holders’ accounts year-end balances, income and capital gains, to their respective tax authorities and/or directly to other countries tax authorities), and with regards to Qualified Intermediary Agreement (QI Agreement)  (requiring non-U.S. banks and financial intermediaries to obtain QI status and directly report and withhold U.S. income tax to the IRS on U.S. investments).

The services consist of

  • consultation on regulatory requirements/QI requirements,
  • implementation of procedures/processes/structure ensuring compliance,
  • reviewing implemented procedures/processes/structures verifying compliance,
  • assistance with the registration of FATCA/QI status and annual FATCA/QI reporting requirements.

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