The Training Course

This one day intermediate to advanced training course will provide delegates with a comprehensive understanding of the new United States Foreign Account Tax Compliance Act (FATCA) requirements, by combining theory with practice and by incorporating interactive learning elements. The course aims to demystify the complexity of both FACTA and the OECD Common Reporting Standard (CRS) frameworks. The course Expert Trainer will ensure that delegates fully understand the operational impact that FATCA and the OECD CRS will have on the business and on clients, as well as guiding delegates through necessary adaptation processes, compliance solutions, and the complexities of understanding the way the FATCA and OECD CRS frameworks operate around the world. 



SESSION 1: An Introduction to the FATCA Regulatory Framework

■ Key FATCA Aims, objectives, milestones.

■ FATCA Global Implementation and Impact.

■ FATCA Definitions (FFI; P-FFI; RDC-FFI; CDC-FFI; NFFE; GIIN; FDAP Income; RO; IGA; USWAs; Gross Proceeds; Passthru Payments; Grandfathered Obligations; Active Income; Passive Income).


SESSION 2: The Three Pillars of FATCA: PART I

■ PILLAR I: FATCA Classification, Direct US and Indirect US Accounts, Regulatory Exemptions.

■ Due Diligence for Pre-Existing and New US Individual and Entity Accounts.

■ Classifying Financial Entities and Implementing US Indicia Requirements.


SESSION 3: The Three Pillars of FATCA: PART II

■ PILLAR II: FATCA Documentation and Reporting Obligations for FFIs and NFFEs.  

■ An Analysis of FATCA Reports, FATCA Reporting and Recalcitrant Accounts.

■ PILLAR III: FATCA 30% Withholding Tax Penalty, Withholding Payments, Civil and Criminal Penalties for Responsible Officers.


SESSION 4: Analysing US FATCA Model 1 and Model 2 Intergovernmental Agreements and FFI Agreements

■ MODEL 1 (Reciprocal 1A); MODEL1 (Non-Reciprocal 1B).

■ MODEL 2 (No Pre-existing Tax Information Exchange Agreement or Double Tax Convention Required); MODEL 2 (Pre-existing Tax Information Exchange Agreement or Double Tax Convention).

■ IRS FFI Agreement (Form 8957).





SESSION 5: Analysing the OECD CRS

■ The Convention on Mutual Administrative Assistance in Tax Matters.

■ Analysing the Standard for Automatic Exchange of Financial Account Information (Model CAA)(Common Reporting and Due Diligence Standard).

■  Reporting and Due Diligence Standards, Indicia Searches, Address Tests.



■ Comparing FATCA and CRS reporting and due diligence obligations.

■ CRS special rules for non-participating (automatic exchange) investment entities.

■ Assessing CRS Administrative and IT infrastructures, and confidentiality and data safeguards.



SESSION 7: FATCA and the OECD CRS Operational Compliance

■ FATCA Due Diligence and IRS Forms Analysis (W-8, W-8BEN; 1042; 1042-S).

■ Identifying and Assessing Compliance and Non-Compliance Costs.

■ Responsible Officer preparation for IRS Due Diligence certifications, Developing Effective FATCA and the OECD CRS Compliance Frameworks.


SESSION 8: Review of FATCA and the OECD CRS Compliance Technologies

■ A comparative and strategic analysisof a range of FATCA software vendor solutions, including software solutions available from: (1) PwC; (2) Vizor; (3) Thomson Reuters; (4) Newgen; (5) Stratinfotech; (6) Autorek; (7) BearingPoint; (8) TAINA Technologies.





Training Course Expert Trainer

Rodrigo Zepeda is an expert consultant who specialises in derivatives and financial services law, regulation, and compliance. In 2015 he designed, created and led the two day FATCA for LATAM Firms Conferences in Panama City, Panama, and Santo Domingo, the Dominican Republic. He has presented and led numerous regulatory compliance conferences around the world. He holds a LLM Masters degree in International and Comparative Business Law, has been an Associate of the Chartered Institute for Securities & Investment since 2004, and has passed the New York Bar Examination. He is a Reviewer for the Journal of Financial Regulation and Compliance and has also published widely in leading industry journals such as the Capco Institute's Journal of Financial Transformation, the Journal of International Banking Law and Regulation, as well as e-books on derivatives law. Noted publications include "Optimizing Risk Allocation for CCPs under the European Market Infrastructure Regulation"; "The ISDA Master Agreement 2012: A Missed Opportunity"; "The ISDA Master Agreement: The Derivatives Risk Management Tool of the 21st Century?"; and "To EU, or not to EU: that is the AIFMD question".


Key Benefits

  • Advanced knowledge and understanding of the FATCA and Model IGA frameworks; compliance requirements; the interaction of FATCA with trusts and passthru payments; and similarities and differences between FATCA and the OECD CRS due diligence and reporting obligations.

  • Extensive Pre-Conference Questionnaire to identify delegate's key conference objectives.

  • Comprehensive conference documentation (100+ page Training Manual, Definitions Brochure, Supporting Materials, colour FATCA PowerPoint presentations, Charts and Diagrams).

  •  Post-course Expert Trainer follow-up to guarantee all key course objectives have been met.

Who should attend

  • Chief Executives

  • Chief Financial Officers

  • Chief Risk Officers
  • Compliance Officers and Staff  

  • Executive Board Directors

  • FATCA Responsible Officers 

  • General Counsel

  • General Managers

  • In-House Legal Counsel 

  • Investment Fund Managers 

  • Non-Executive Board Directors  

  • Risk Management Officers and Professionals

  • Trust Administrators 

  • Trustees