30th - 31st July 2015 

FATCA regulations are complex and wide-ranging and may require significant modification to internal operational systems, control frameworks, processes and procedures for regulatory compliance

This two day intensive intermediate to advanced level course will provide delegates with a unique and highly comprehensive understanding of the new United States (U.S.) Foreign Account Tax Compliance Act (FATCA) requirements. By combining theory with practice and by incorporating interactive workshop elements, the course will demystify the complexity of FACTA requirements, and will help delegates to understand the operational impact it will have on their business and on clients. The course will also provide deeper insights into how FATCA will affect trusts in various trust jurisdictions, how passthru payments will operate in practice, and how the OECD Common Reporting Standard (CRS) operates in comparison to FATCA. 

Day One

SESSION 1: Introduction and Definitions

  • Historical background and context.
  • Key FATCA aims, objectives, milestones.
  • FATCA global implementation and impact.
  • The Three Pillars of FATCA (Classification, Reporting, Withholding).
  • 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

  • PILLAR I: FATCA Classification
  • Direct U.S. and Indirect U.S. accounts.
  • Due Diligence for Pre-Existing and New U.S. individual and entity accounts.
  • Classifying financial entities and implementing U.S. Indicia requirements.
  • FATCA regulatory exemptions.
  • PILLAR II: FATCA Reporting
  • Documentation and reporting obligations.
  • FATCA Reports, and Recalcitrant Accounts.
  • PILLAR III: FATCA Withholding
  • 30% withholding tax penalty.
  • Withholding Payments and Special Rules on FATCA Withholding.
  • Civil and criminal penalties for Responsible Officers.

SESSION 3: Analysing Key FATCA Model IGA and IRS FFI Agreement Provisions

  • MODEL 1 IGA (Reciprocal 1A)
  • MODEL 1 IGA (Non-Reciprocal 1B).
  • MODEL 2 IGA (No Pre-existing Tax Information Exchange Agreement or Double Tax Convention Required).
  • MODEL 2 IGA (Pre-Existing Tax Information Exchange Agreement or Double Tax Convention).
  • IRS FFI Agreement (Form 8957).

SESSION 4: FATCA and Passthru Payments

  • Defining passthru payments in practice.
  • The U.S. IRS rules on passthru payments.
  • Passthru payments flow charts and worked examples.
  • Calculating the passthru payment percentage (PPP).
  • Designing and implementing effective foreign passthru payment systems in practice.

Day Two

WORKSHOP 1: Road Maps and Implementation Plans

  • FATCA due diligence and IRS Forms analysis (W-8, W-8BEN; 1042; 1042-S).
  • Identifying and assessing compliance and non-compliance costs.
  • Adapting and streamlining FATCA compliance and onboarding systems.
  • Responsible Officer preparation for due diligence IRS certifications (2016, 2018).
  • Developing Client Relationships and Client Briefing Materials.

WORKSHOP 2: FATCA and Trusts

  • Classifying trusts under FATCA Regulations and IGA Model Agreements.
  • Comparing and evaluating FATCA trust available exemptions (Trustee-Documented Trust, Sponsored Investment Entity, and Sponsored, Closely Held Investment Vehicle).
  • The impact of revocable and irrevocable trusts under FATCA.
  • Comparing FATCA trust frameworks in 3 trust jurisdictions (delegate's choice).

WORKSHOP 3: Analysing the OECD CRS

  • The Convention on Mutual Administrative Assistance in Tax Matters.
  • Analysing the Standard for Automatic Exchange of Financial Account Information (Model Competent Authority Agreement) (Common Reporting and Due Diligence Standard).
  • Reporting and due diligence standards.
  • Indicia searches (electronic and paper) and permanent residence address test.


  • 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.
  • Implementing FATCA and CRS compliant systems.
  • Overview of The International Tax Compliance (Crown Dependencies and Gibraltar) Regulations 2014 provisions.
  • Overview of The International Tax Compliance Regulations 2015 provisions.

What previous delegates at FATCA for LATAM Firm Conferences have said about the Expert Trainer's Conference.

"The material is very extensive and complete"... (Banco de Reservas, Dominican Republic)                                    "10/10 would take it again"... (Banco de Reservas, Dominican Republic)                                    "5/5 Excellent Knowledge"... (Cementos Progreso, S.A., Guatemala)                                   "Very complete course"... (Cementos Progreso, S.A., Guatemala)                                   "Extremely helpful and open to questions" (Banco de Reservas, Dominican Republic)                                   "5/5 I think he knows all the content involved to the material"... (BCT Bank International, Costa Rica)                                    "It was well structured and organised...with a lot of significant and useful material/information"... (BCT Bank International, Costa Rica)                                    "5/5 Documentation was very good"... (CB Abogados, Costa Rica)                                   "5/5 Very good Material, handouts"... (BCT Bank International, Costa Rica)                                   "Deep, comprehensive in a very complex law" (Prival Bank S.A., Panama)                                    "Technical material provided is very complete" (Prival Bank S.A., Panama)                                    "Reviewed information that was relevant for me" (CB Abogados, Costa Rica)                                    "5/5 Very comlete" (Banco CorpBanca, Chile)                                   "

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
  • Extensive pre-course questionnaire to identify delegate's key course objectives
  • Lenovo 8" Yoga Tablet pre-loaded with course presentations and documentation to take-away
  • Comprehensive course documentation
  • Post-course trainer follow-up to guarantee all key course objectives have been met

Course Suitable For

  • 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 and Trustees