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FATCA & CRS

FATCA & CRS

The implementation of FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) is mandatory for many financial institutions.

The implementation of FATCA and CRS is mandatory for many financial institutions.

Why it's important

A company must disclose its FATCA and CRS status when doing business with financial institutions. Companies have to determine this on their own, which is especially challenging for large corporations and groups located in multiple jurisdictions. The incorrect determination of these statuses may result in fines and difficulties in obtaining services from banks.

How we can help

We help determine the company’s statuses, complete all necessary forms and documents, and defend the statuses during interactions with financial institutions. Further, we develop methodology so that the company is able to determine these statuses on its own.

What we do

  • We advise our clients on FATCA, that is help determine FATCA status, and develop instructions on how to properly complete applicable forms and documents
  • We determine the group’s overall status as well as the statuses of each company in that group
  • We analyse business activity, as well as the revenue and asset structures of the group and of each company in the group
  • We analyse intergovernmental agreements and local legislation of various jurisdictions
  • We organise trainings for employees of any level of qualification

What you get

  • Sanction and compliance risks are minimised
  • Financial institution’s requirements are fulfilled
  • FATCA and CRS requirements are fulfilled
     

Connect with us

  • Find office locations kpmg.findOfficeLocations
  • kpmg.emailUs
  • Social media @ KPMG kpmg.socialMedia
 

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