FATCA
What is FATCA?
Like most OECD countries, Belgium and the United States signed an Intergovernmental Agreement ("IGA") in which the Belgian Federal Financial Authority ("Service Public Federal Finances") has to communicate the information referred in FATCA to the relevant US authorities, the Internal Revenue Service ("IRS").
Failure to report on US account holders can result in a 30% fine on all US income.
Who is impacted by FATCA?
How can Pideeco help you with FATCA?
FATCA can be challenging to financial institutions as it can be time-consuming, complex to implement, challenging to gather the data needed, and requires expertise in the field. Our FATCA experts can help your company to:- Navigate the regulatory landscape of FATCA.
- Set-up FATCA processes that are tailored to your company.
- Improve your current FATCA processes.
- Draft or improve your FATCA policies and procedures.
- Train your staff members in FATCA.
- Create tools to efficiently capture the data needed for FATCA requirements and enhance the documentation process to your customers (questions and customer declarations).
- Improve the data that is required for FATCA.
- Organise system checks and monitoring of transfers.
- Carry out for you the FATCA process required by the IRS, including the reporting requirements.
Let us know how we can help! We'll get back to you lightning quick!
You'd rather talk face to face? Complete the form and schedule a meeting
The financing of terrorism is defined as the distribution or collection of funds, in ...
Businesses and financial institutions continuously face risks and obligations, such a...
What is FATCA?FATCA is the US Foreign Account Tax Compliance Act, enacted in 2010 to ...
As part of their KYC procedure, financial firms submitted to AML regulation must list...
What is MiFID II and MiFIR?The Directive 2014/65/EU (hereafter the "Directive"...
Since 2007, the technological development and the growth of electronic and mobile pay...
Fraud is a significant risk for businesses, with technological advancements leading t...
What are the dangers of cryptocurrencies?Cryptocurrencies are virtual or digital curr...
What is an embargo?As a result of globalization, businesses are more likely to face t...
What is the Common Reporting Standard (CRS)?Following the 2010 US Foreign Account Tax...
Faced with the outbreak of highly targeted attacks, risk management and information s...
Anti-money laundering (AML) is an important aspect of the financial industry because ...
Financial institutions must be able to identify and verify the identity of their cust...
Financial markets have become increasingly global, giving rise to new trading platfor...
Insider dealing (the term "insider trading" is also frequently used) arises w...
Fighting against dumping and bribery is required for any company. Suspicions of corru...
Customer due diligence (CDD) is the process of verifying the identity of a customer o...
We'll present you the technology to stop money laundering and terrorist financing
Europol defines Financial Crime as "illegal acts committed by an individual or a group of individuals to obtain a financial or professional advant...
Return to financial crime
The future of banking is changing and Open Banking is an emerging trend that will evolve the banking world and lead the sector to a digital era. Open Banking transition explainedAccording to the definition provided by "Open Banking Europe", the term “Open Bankingâ...
Read more Author What else ?