On 17 November 2015 Ipes entered into an agreement with KPMG to provide investors with certain services. It will include developing and marketing services to support investors throughout the lifecycle of the funds in which they invest. As the Foreign Account Tax Compliance Act (FATCA) expands into the Common Reporting Standard (CRS), the services will continue to grow to include client due diligence (CDD), investor relations and possibly some tax information reporting.
In 2014 Ipes worked with KPMG to build a FATCA service and all FATCA entity classifications that Ipes undertakes for their clients are verified by KPMG. Previously, KPMG had worked with Ipes to help develop their AIF Depositary service.
Ipes Chief Executive, Chris Merry, commented that "this arrangement brings together Ipes’ skills in administration and technology development and KPMG’s expertise in tax and assurance services to form a credible solution for investors. We are looking forward to working with KPMG as we develop and market our services to investors."
One of the first deadlines for clients to be aware of is the deadline for FATCA reporting for US and UK investors in May/June 2016.
L to R in the photo are: Chris Merry, Chief Executive of Ipes, and Tony Mancini, Tax Partner at KPMG Channel Islands
Read more about FATCA and The Common Reporting Standard in our Technical Library.