How KPMG can help 

Foreign Account Tax Compliance Act (FATCA)


KPMG is uniquely positioned to assist your organisation with all facets of FATCA compliance and can provide a cross-functional team to address the various components of a FATCA implementation project. Specific to this, we have, over the past decade, built a highly successful global U.S. withholding tax network. Capitalising on our well-established model for meeting client needs with respect to the existing U.S. withholding regime and, in particular, the rules relating to qualified intermediaries, we have an established network dedicated personnel specialising in U.S. withholding tax matters, including FATCA, in Hong Kong and China.

Tax Advisory Team


Our Tax Advisory team is well versed in the new legislation and can provide advice on the technical complexities of implementing FATCA in an organisation. This includes:

Interpreting the impact of the legislation 
Working with the business divisions to understand the effect on processes and systems. 


Business Performance and Technology Team


Our Business Performance team has business process and change management experience and can assist with the interpretation of the impact on processes and systems. This includes:
Developing new target processes 
Gap analysis 
Remediation and implementation planning 
Business requirements development  
IT architecture roadmap design  
Project and change management to ensure that initiatives are implemented in the most cost efficient but effective way.


Regulatory Compliance Team


Our Regulatory Compliance team has significant experience in working with financial institutions on:
Regulatory reporting 
Regulatory compliance 
The implementation of AML and KYC programmes. 


They will help re-design the target processes for these specific areas that are impacted by FATCA.



Since the enactment of the Foreign Account Tax Compliance Act (FATCA) in March 2010, the IRS issued several rounds of preliminary guidance prior to the release of proposed regulations on February 8, 2012. KPMG has prepared an analysis that examines these provisions.


The Treasury Department and IRS released for publication in the Federal Register proposed regulations (REG-121647-10) as guidance concerning information reporting by foreign financial institutions for U.S. accounts.


The IRS released an advance copy of Notice 2011-53 which provides a timeline for the implementation of information reporting and withholding provisions under chapter 4 of the Code (referred to as "FATCA").



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