FATCA
Do you know FATCA?
The meaning of "United States person" can be found under section 1473, subsection 3 of FATCA and it includes-among other- citizens or residents of the USA, partnerships and corporations incorporated under the US legal framework, etc.
Like the majority of 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").
More information about FATCA on the Belgian Authority's website
Is your company concerned about 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.
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