FATCA is not exactly a tax but a framework for information exchange. FATCA may impose a penalty on those who fail to comply. It affects financial institutions, non-financial institutions and individuals among others. Specifically, FATCA has created additional reporting responsibilities for both financial institutions (known as FFIs) based outside of the US as well as US persons with foreign financial assets.
Our team works with FFIs who have GIIN registration or FATCA related reporting requirements. Because of the need to leverage technology in extracting FFI client data, transforming it into the right XML format and reporting it accordingly.
We offer FFIs FATCA reporting solutions from US$2,000
We have worked with hundreds of US persons who now must complete Form 8938 as part of their annual tax filing.
Non–Financial Institutions based overseas are sometimes known as NFFEs or non-financial foreign entities. We work with NFFEs that have been given W-9s and W-8-Ben-Es to complete by their banks. Our team would be happy to assist with the entity analysis needed to complete these forms.
Contact us today for a quote.