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FATCA - Essential Requirements (The Foreign Account Tax Compliance Act)

BPP Professional Education

Summary

Price
£372 inc VAT
Study method
Classroom
Duration
1 day · Full-time
Qualification
No formal qualification
CPD
3 CPD hours / points
CPD What's this?
Additional info
  • Tutor is available to students

Location & dates

Location

Address
Venue may change up to 14-days before the course start date’
9-10 Portland Place
West London
London
W1B1PR
United Kingdom
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Overview

The Foreign Account Tax Compliance Act of the US has global application. It came into force on 1st July 2014. Most financial services firms in the UK, as well as elsewhere, will have to register and submit annual returns. They will also need to collect data from clients to enable them to determine tax domicile. Furthermore, they will need to develop systems to retain additional client information and to construct reports. Non-compliant firms will suffer withholding tax.

Venue may change up to 14-days before the course start date. Enquire for dates.

CPD

3 CPD hours / points
Accredited by BPP Professional Education Limited

Description

Learning outcomes include a greater understanding of:

  • The purpose and concept of FATCA
  • The structure of FATCA regulations
  • Practical obligations applicable to UK firms and firms based elsewhere

Course Content

  • The background to FATCA and the objectives of the US in introducing the legislation – what does the US expect to get out of all these new requirements?The functioning of the mechanisms for monitoring and enforcement of FATCA requirements – how the system is expected to work
  • The structure of the regulations – interaction of US and UK requirements
  • Practical requirements – what firms are actually obliged to do and scope for partial exemption
  • Implementation measures that firms will need to take – for action

Who is this course for?

Senior executives, compliance professionals and operational staff of financial services firms.

Questions and answers

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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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