Dubai, 30th June -1st July 2016

It is crucial for foreign financial institutions across the globe to ensure a timely readiness to meet the extensive FATCA due diligence identification, reporting, and withholding requirements

Conference Programme

This two day intermediate to advanced conference training programme 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 elements. The conference will demystify the complexity of both FACTA and OECD Common Reporting Standard (CRS) requirements. It will help delegates to 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 and compliance solutions.  

Day 1: Sessions

SESSION 1: Introduction to FATCA and Key Definitions

• Historical background, context, and 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 US and Indirect US accounts; Due Diligence for Pre-Existing and New US individual and entity accounts; Classifying financial entities and implementing US Indicia requirements; 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 (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 4: FATCA and Passthru Payments

• Defining passthru payments in practice.

• The US 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 2: Workshops

WORKSHOP 1: FATCA Road Maps and Implementation Plans

• US IRS registration, FATCA due diligence and IRS Forms analysis (W-8, W-8BEN; 1042; 1042-S).

• Identifying and assessing compliance and non-compliance costs, and adapting and streamlining FATCA compliance and onboarding systems.

• Responsible Officer preparation for IRS due diligence 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.

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.

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-conference questionnaire to identify delegate's key conference objectives
  • Lenovo 8" Yoga Tablet pre-loaded with conference presentations and documentation to use and take-away
  • Comprehensive conference documentation.
  • Post-conference expert trainer follow-up to guarantee all key conference 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
  • Trustees