Personal and Business Competencies

FATCA compliance for financial professionals

The training provides practical knowledge of FATCA (Foreign Account Tax Compliance Act) requirements for financial institutions. The program combines theoretical lectures with practical workshops, focusing on the practical aspects of implementing FATCA requirements. Participants will learn identification, reporting and documentation procedures as required by the Act.

Issues

FATCA regulatory requirements
Due diligence procedures
Identification of reporting entities
Documentation and verification of customers
Reporting processes
Compliance risk management
International cooperation
Data protection
Responsibilities of financial institutions
Internal control systems
Sanctions and consequences of non-compliance
Best implementation practices

Benefits

The participant will gain a working knowledge of the requirements of the FATCA Act and its impact on the operations of financial institutions
He or she will learn to correctly identify entities subject to FATCA reporting
He will be able to implement appropriate compliance procedures in his organization
Will learn methods to effectively manage the FATCA reporting process
Will gain the ability to prepare the required documentation in accordance with the standards
Will learn to minimize the risks associated with non-compliance with FATCA regulations

Who is this training for?

Employees of compliance departments in financial institutions

Financial reporting specialists

Internal auditors

Legal department employees

Customer service managers

International tax specialists

Employees of operational departments of banks

Prerequisites

Basic knowledge of tax law
Experience working in the financial sector
Knowledge of customer service processes
Basic knowledge of international financial regulations

Training program

Key definitions and concepts
Subject matter and scope
Implementation schedule
Responsibilities of financial institutions

Identification of US accounts
Documentation and verification
Managing the reporting process
Practical aspects of implementation

Document templates

Solving common problems

Reporting requirements

Internal control systems
Cooperation with supervisory authorities

Delivery Methods

Online

Convenience of participating from anywhere
Interactive live sessions with trainer
Materials available for 30 days
No travel costs

On-site

Direct contact with trainer and group
Intensive hands-on workshops
Networking with other participants
Full focus on learning

Frequently asked questions

What are the prerequisites for this training?

For FATCA compliance for financial professionals we recommend: Basic knowledge of tax law; Experience working in the financial sector; Knowledge of customer service processes.

What is the format and duration of this training?

The training lasts 1 day and is available in online and on-site format. Sessions run from 9:00 AM to 4:00 PM. We can also customize the schedule to fit your team's needs.

Who is this training designed for?

This training is designed for: Employees of compliance departments in financial institutions; Financial reporting specialists; Internal auditors.