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Live Webinar

100-minute live streaming program
  • June 18
  • 1:00 - 2:40 pm EST

Account Reporting Under FATCA and the CRS

June 18

Better understand account reporting under FATCA and CRS, as well as, the differences between the two.

Many countries have introduced financial reporting obligations over the past few years in an effort to help combat tax evasion. While these obligations have affected almost everyone that holds a financial account to some degree, these regulations have had an enormous impact on the financial institutions (for example, banks and investment funds) with direct reporting obligations under these regimes. In many instances, neither account holders nor client-facing employees of these financial institutions have a strong understanding of the obligations these regimes impose, which can lead to confusion and wasted time for all parties involved. This topic is designed to provide an overview of financial account reporting requirements under FATCA and the CRS, which are two main information reporting regimes in the world. Gain a better understanding of what these regimes are looking for and the documentation account holders will generally be required to provide, as well as the information financial institutions that maintain the accounts are generally required to submit to the tax authorities in the jurisdiction in which they operate. This information is particularly focused on obligations of financial institutions located outside of the U.S., however it also likely relevant for any U.S. person with international business operations or anyone else holding accounts outside of the U.S.

Learning Objectives

  • You will be able to describe the general purpose and structure of FATCA and CRS reporting.
  • You will be able to explain some basic differences between FATCA and CRS reporting requirements.
  • You will be able to identify the types of entities that generally have account reporting requirements under FATCA and the CRS.
  • You will be able to recognize whether your organization may itself have reporting obligations or be subject to reporting by third parties.

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Why Lorman?

Over 33 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

High-Level Overview of U.S. Information Reporting Regimes
  • Chapters 3, 4, and 61
  • FATCA Account Reporting
Overview of International Account Reporting Regimes
  • FATCA, Including Treasury Regulations, Model 1 IGAs, and Model 2 IGAs
  • Common Reporting Standard
FATCA Reporting
  • Reporting Model 1 FFIs
  • PFFIs and Reporting Model 2 FFIs
  • FATCA Reporting for U.S. Persons
Common Reporting Standard
  • Reporting FIs in Participating Jurisdictions
Comparisons Between FATCA and the CRS
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More Program Information

Why Lorman?

Over 33 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

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 2.0 including Specialized Knowledge 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 2.0 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, LLC. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 2.0 hours.
     

Who should attend?

This live webinar is designed for accountants, CPAs, controllers, CFOs, tax managers, tax preparers, finance directors, accounts payable professionals and bookkeepers.

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Why Lorman?

Over 33 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

Carson Le

Carson Le

KPMG LLP

  • Manager, KPMG LLP
  • Specializes in U.S. information reporting and withholding requirements under IRC Chapters 3, 4, and 61, in addition to FATCA Intergovernmental Agreements (IGAs) and the OECD Common Reporting Standard (CRS)
  • Provides consulting to U.S. and foreign companies across a wide range of industries
  • LL.M. degree in taxation, New York University School of Law; J.D. degree, The George Washington University Law School
  • Can be contacted at [email protected]
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Why Lorman?

Over 33 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.

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Product ID: 407277
Published 2020
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