The Foreign 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, have US investors or own US portfolio companies.
Reporting is due on all US investors by May 2016 in the UK or 30 June elsewhere. Reporting is due on all UK investors by 31 May 2016 from funds in the UK, Crown Dependencies and UK territories.
The Common Reporting Standard (CRS) was approved by the Organisation for Economic Co-operation and Development (OECD) in July 2014. It has already been implemented by 56 countries from 1 January 2016. Reporting starts in 2017 by which time a further 34 countries have committed to implement CRS. This effectively makes most investors reportable to their domestic tax authority under either CRS or FATCA.
Ipes offers a complete four stage service from classification to reporting through our in house online platform The ID Register. We work in alliance with other professionals, including KPMG, to ensure that each profile remains compliant with evolving FATCA and CRS legislation.
Why choose Ipes for FATCA ?
Our process is fully online
We can handle the complete FATCA and CRS process
Our pricing is transparent. You only pay for what we do
Our online FATCA and CRS profiles can be shared across all the funds in which an investor invests saving the time and hassle of multiple forms
We have signed an agreement with KPMG to develop services to support investors. This ensures you remain fully up to date and compliant with evolving legislation and practice