AP Compliance Reporting: FATCA
Brought to you by CFO Learning
The Foreign Account Tax Compliance Act (FATCA) places new onerous documentation and reporting requirements on U.S. companies that make payments to foreign entities or persons. There are stringent penalties for non-compliance. FATCA is not just a "tweak" to the U.S. withholding tax rules but effectively creates a new regulatory regime requiring a massive change project for your company and it must be completed by 2013.
What's the risk? Any U.S. company making payments to non-U.S. entities or persons now faces the twin challenges of staying on track to be FATCA compliant by 2013 and remaining compliant with current nonresident alien (NRA) withholding tax rules. Even more daunting, you must also ensure that your domestic withholding and reporting are up-to-date and robust.
Join tax experts Cyrus Daftary, Kelli Wooten, and Jill Dymtrow during this hour-long Webcast that focuses on explaining the new compliance risks and providing practical recommendations on how to evaluate and handle those risks.
After this Webcast you will:
This Webcast does not currently offer the opportunity to earn continuing professional education (CPE) credit. We invite you to stay tuned to CFO.com for future Webcasts that will offer attendees opportunities to earn CPE credit.
- Understand the FATCA implications for your company;
- Know what needs to be done to meet the reporting and withholding requirements under U.S. Tax Code Section 1441 for foreign vendors;
- Identify and deal with concerns and potential issues raised by the rule change;
- Deal with FATCA's impact on the 1441 Rules (related to NRA);
- Handle the implementation considerations brought on by the rule change; and
- Evaluate the concept of Electronic Forms W-8.
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About the Presenters
is a partner at Burt, Staples and Maner, LLP specializing in international taxation and regulatory compliance. Cyrus has extensive experience with the United States withholding and reporting rules for U.S. and non-U.S. persons, as well as the U.S. Patriot Act and various anti-money laundering regimes, the European Savings Directive, and e-commerce issues.
is a vice president at Compliance Technologies International, LLP. Her expertise includes working with U.S. withholding agents and Qualified Intermediaries (QI) on compliance with Section 1441 rules. Prior to joining the law firm, Jill specialized in information reporting and withholding at PricewaterhouseCoopers (PwC), where she worked with foreign PwC offices and their clients.
is Of Counsel to Burt, Staples & Maner, LLP, and vice president - Consulting for Compliance Technologies International, LLP. Prior to taking on her current roles, Kelli had an extensive career with Procter & Gamble, where she served in many capacities, including those concerning domestic and international tax compliance; audit and litigation; and indirect tax.
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