FATCA & The CRS Training

The Foreign Account Tax Compliance Act (FATCA) is US tax legislation which is aimed at preventing the use of offshore accounts by US persons to evade US tax obligations.

FATCA requires financial institutions outside the USA to pass on information about individual and corporate customers who are US persons.

Our FATCA and The CRS course will help your staff learn about your company's obligations and how the FATCA and the CRS work to prevent tax evasion.

About this Course

This SCORM-compatible course is part of our Essentials Library.

Learning Objectives

This course will prepare your employees to:

Identify the aims and key features of FATCA and the CRS
Apply appropriate due diligence procedures to document and identify reportable accounts under FATCA and the CRS
Arrange the implementation of necessary procedures to ensure we comply with the reporting requirements under FATCA and the CRS

Course outline

Introduction

What is FATCA?

- Specified US Persons
- The Substantial Presence Test
- Controlling persons
- You decide: US persons
- FATCA in the UK

What is the CRS?

- UK Mandatory Disclosure Rules (UK MDR)
- Identifying reportable persons and accounts

Our compliance procedures under the FATCA & the CRS

- You decide: What is reportable?
- Reportable accounts

Due diligence procedures on new accounts

- Due diligence procedures on pre-existing accounts
- Conducting electronic record searches
- Due diligence thresholds

Reporting information under FATCA and the CRS

- Scenario: The CRS return

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 30-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.