Ipes now offers FATCA Tax Information Exchange services
The Foreign Account Tax Compliance Act (FATCA) applies to all Foreign Financial Institutions (FFIs) both within and outside the United States, irrespective of whether they transact in US Dollars or have US investors or US portfolio companies.
Investment managers must assess the tax status of all investors and establish a new investor on-boarding procedure by 1 July 2014. Entity registration with the IRS has a deadline of 31 December 2014, with reporting due in 2015.
We recognise that FATCA can be a real burden so Ipes can take the process completely off your hands by undertaking all four stages of classification, registration, investigation and reporting. We've taken the time to get this service just right for funds, built in conjunction with Big Four expertise.
With 8,969 investors in our system we will have signed-off many of your investors already and can guarantee minimal investor impact through a simple, pre-populated online return. This ensures we minimise cost with straightforward, transparent pricing.
We will do as much or as little of the FATCA process as you wish, whether we currently administer your structures or not.
Stage 1. Classification: Using our clear templates and technology we classify each financial entity which is then verified by KPMG.
Stage 2. Registration: The IRS registration process is completed for each entity including Responsible Officer support.
Stage 3. Investigation: CapitalTracker.com provides a single, easy due diligence return for investors across applicable funds.
Stage 4. Reporting: CapitalTracker.com automatically reports balances on reportable accounts to each relevant authority.
For more information please see our FATCA page.