• Service: Tax, Legal, Financial Services Legal, Advisory, Consulting, Forensic, Financial Services
  • Type: Business and industry issue
  • Date: 7/8/2013

Implementing a US person identification program 

Do banks in Switzerland know exactly how many US clients they provided services for in the last years? Or how many US clients they accepted since 2008? With the upcoming Tax Program, the Department of Justice and Internal Revenue Service require banks in Switzerland to be compliant with US tax regulation.
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It is expected that banks will need to identify and validate their US Person client base including Assets under Management (AuM) retrospectively until 2008 with specific focus on US clients accepted since 2008. KPMG can help banks to be prepared, take the necessary steps and implement a robust US Person Identification (and Exit (termination of client relationship)) Program.



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