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FATCA Compliance: What International Institutions Need to Know About the Recent Changes

Gain a better understanding of the recent changes to FATCA reporting requirements.The Foreign Account Tax Compliance Act (FATCA) is a much debated and oft-despised reporting requirement relating to foreign holdings of U.S. citizens living abroad. It requires foreign financial institutions and other foreign entities to report the holdings of U.S. citizens living out of the country or be subject to a 30% withholding tax on certain U.S. payments. In 2016, the IRS revised the reporting requirements and registration system requiring foreign financial institutions to renew their reporting agreements by July 31, 2017 or risk their lapse. This topic will prepare you on how to identify and address emerging FATCA compliance issues in their organizations. You will learn about critical voluntary compliance and enforcement issues, coupled with efforts to repeal FATCA.
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

FATCA Context and Developments
  • Who Are the Players?
  • What Are the Recent Developments?
  • New Renewal Requirements and Deadline
Specific Compliance Concerns
  • CRS Implementation
  • Overreporting and False Positives
  • Common Issues Faced by Financial Institutions, Intermediaries and Sponsoring Entities
Critical and Emerging Issues
  • Balancing Anti-Money Laundering Requirements
  • Enforcement Challenges
  • 2017 Repeal Efforts
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Ashley M. Elmore Drew, Esq.

Ashley M. Elmore Drew, Esq.

Burr & Forman LLP

  • Attorney in the Tampa, Florida office of Burr & Forman LLP
  • Provides legal and regulatory compliance advisement and auditing services to financial services clients on a wide range of topics, including but not limited to the following: RESPA, SCRA, Third Party Relationship Risk Management, Bank use of Foreign-Based Service Providers, ECOA, FDCPA, FCRA, FACTA, UDAAP, and Regulation P. She also represents clients in a wide range of litigation to include claims asserted under TILA, RESPA, FDCPA, and TCPA
  • Recently featured in the Tampa Bay Business Journal, discussing the impact of the election on Dodd-Frank and the effect on community banks
  • Has written the following articles, “Opposition Mounts After Florida Court Eviscerates Lis Pendens”, published by Thompson Reuters in the Consumer Financial Services Law Report, Vol. 20, Issue 11, November 6, 2016, "CFPB Issues Examination Procedures for the Military Lending Act Rule", published by Burr Consumer Finance Litigation Blog on October 3, 2016; "New Risk from New Rules on Banker Pay", published by BAI, Banking Strategies on July 6, 2016; "The Best Defense is a Good Strategy: Planning for the Arbitration Rule", published by Burr Consumer Finance Litigation Blog on June 27, 2016; "Not Just the C-Suite: Regulators Issue Broad New Proposed Rule on Banker Compensation", published by Burr Consumer Finance Litigation Blog on April 25, 2016; "CFPB Receives Strategy Lesson—Court Holds it Overreached by Investigating For-Profit School Accreditation", published by Burr Consumer Finance Litigation Blog on April 27, 2016; "Do We Want the CFPB to Regulate the Practice of Law?", published by Burr Consumer Finance Litigation Blog on April 29, 2016; "NCUA Proposes Rule Easing Credit Union Commercial Property Occupancy Rule", published by Burr Consumer Finance Litigation Blog on June 29, 2016 and "Ctrl Alt Delete: CFPB says Mortgage Servicers Need Technological Reboot", published by Burr Consumer Finance Litigation Blog on June 29, 2016
  • Can be contacted at 813-367-5753 or at [email protected]
Adam J. Knight

Adam J. Knight

Burr & Forman LLP

  • Attorney in the Financial Services Litigation practice group in the Tampa office of Burr & Forman LLP
  • Practice focuses on representing financial institutions in banking and real estate litigation and includes the representation of creditor rights in mortgage foreclosure litigation and defending creditor interests in claims arising under the FDCPA, FCCPA, TCPA, and FCRA
  • Represents parties to real estate issues including title insurance claims, boundary disputes, commercial lease transactions, escrow disputes, and other real estate litigation and transactional matters
  • Was also the prior owner of a successful local title company and is a licensed title insurance agent for Old Republic National Title Insurance Company and the Attorney’s Title Insurance Fund
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Product ID: 400946
Published 2017
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