Recorded: June 17, 2014
Length: 60 Minutes
FATCA is a significant piece of legislation that impacts every U.S. based depository institution that sends funds to a bank, hedge fund, trust company, mutual fund, wealth management or investment company located outside the United States. These entities are considered foreign financial institutions or FFIs by this Act.
This session will address:
- FATCA and the applicable withholding requirements
- How FATCA applies to U.S. based depository institutions
- How to become a participating Foreign Financial Institution ("PFFI")
- Due diligence of a PFFI as required by regulations
- Best Practices and lessons learned from assisting banks in complying with FATCA
Presenter: Toby L Lawrence, CPS
Toby's experience as a CPA includes providing opinion audit, directors' exam, and various consulting services to banks located throughout the United States. His consulting experience includes providing merger and acquisition, internal audit program development and outsourcing, asset liability management model validation services, loan review, regulatory compliance, enterprise risk management, profit improvement and operational review services, strategic planning, employee performance management systems, and litigation support services. He has also assisted foreign banks and advised U.S. based banks in their efforts to become FATCA compliant.
1 CPE Credit
Program Level: Basic-Intermediate