FATCA Compliance: Your Reporting & Withholding Requirements
The Foreign Accounts Tax Compliance Act (FATCA) attempts to restore tax fairness by focusing on foreign financial assets of US citizens that are not being properly reported and taxed. It’s crucial you understand your testing, reporting and withholding obligations so you don’t fall victim to the huge penalties that can accrue for noncompliance. The US Department of the Treasury and IRS have been busy designing, implementing and executing intergovernmental agreements, and new and revised forms to force US Citizens and foreign financial institutions into compliance.
Join us for an information-packed webinar on this timely and complicated law, and learn how to comply with your withholding and reporting obligations. Join our 90-minute program to learn:
- Practical instructions and guidance for applying FATCA
- Which businesses and individuals are affected by FATCA
- New and revised forms now in effect
- Clear charts and tables to keep you in compliance
- Keys to minimize withholding and avoid penalties
Program Highlights
Understanding FATCA & Who it Impacts
- Key principles of FATCA and its purpose
- Who is affected: It’s more than just the FFI reporting requirements
- Overview of the two Model Agreements between the U.S. government and foreign governments or foreign institutions
FATCA Requirements: Forms, Reporting & Withholding
- Impacts of FATCA on forms W-9, W-8, 1099, 8966, 8938, & FBAR-FinCEN 114
- Guidelines for minimizing withholding obligations for noncompliance
- Tables and charts to identify foreign financial assets requiring reporting
- Exceptions to reporting and the grandfathering provisions
FATCA Resources to Help You Stay On-track
- Penalty risks for noncompliance, including the extended statute of limitations
- Real-world case studies –Offenders with significantly different outcomes
- Get references to key resources you need to keep you up-to-date
Live Question & Answer Session - Have your questions answered by the expert!
About the Speaker
Miles Hutchinson, CGMA, President, Learn Continuously, LLC. Miles Hutchinson is a CGMA and experienced businessman.
- He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company.
- Miles is a professional speaker and consultant who has presented over 2,500 seminars and training sessions on a myriad of business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act.
- He is recognized as an expert in payroll and sales & use tax as well as financial modeling & analysis, business strategy and communications.
- His clients include, Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army. Please visit his web sites to see how you can further benefit from his expertise.
Program Benefits
Miles Hutchinson, experienced CGMA and financial analyst, will discuss the principles of FATCA, the affected businesses and individuals, the new and revised forms to effect compliance and provide you with simplifying charts and tables to help you determine your steps to full compliance. He will provide practical instructions and guidance for applying FATCA and will identify the key issues that will help you minimize withholdings, avoid potential penalties for noncompliance.
SHRM Credits
Premier Learning Solutions is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®. This program is valid for 1 PDCs for the SHRM-CP® or SHRM-SCP®. For more information about certification or recertification, please visit www.shrmcertification.org.
