The Foreign Account Tax Compliance Act (FATCA) is U.S. legislation enacted by Congress to prevent offshore tax abuses by U.S. persons. The evolving FATCA rules are wide-ranging and will impact many global financial institutions, investment entities, as well as national banks and other financial organisations.
FATCA Regulation

Prepare for FATCA

FATCA arrives at a time when commercial institutions already face a range of significant economic and regulatory challenges.  FATCA introduces a series of business and system requirements that are simple in concept, but maybe difficult and costly to operationalize.  The aim for financial institutions will be to meet the new compliance burden at a cost that is proportionate to the compliance risk faced.


Let us help ensure your organisation is prepared for FATCA. Contact us to discuss how we can help you with your FATCA compliance programme.

First Steps Assistance

There has been much debate about FATCA and the IGAs with the US and the UK.  The fact that the Bermuda IGA’s are signed mean that it really is now time to act. 


FATCA is expected to have the greatest impact on financial institutions, or businesses operating in the banking, trust, funds, investment, corporate service provider and insurance sectors. Other sectors are expected to be impacted to a lesser extent, depending on the ownership structure in place.  


At KPMG, we recognise that financial institutions have complex issues to deal with in complying with the rules, and yet there may not be the resource or expertise internally available to take the first steps towards entity classification, portal registration and so on. 


To assist you in taking these steps, KPMG has developed a package of “first steps” assistance.   For a competitive price, we can offer:


  • an initial one hour FATCA/IGA training session for senior management, focusing on the issues facing your business and the timelines to be achieved;
  • practical guidance on entity classification in relation to you and your clients;
  • an agreed number of follow-up meetings over the next 3 to 6 months to monitor your progress in implementing the necessary steps; and
  •  an agreed number of hours of ad-hoc technical support during the engagement period.


Feedback from clients to date is that such a package of assistance enables them to demystify FATCA and get started on the compliance process.  We would be pleased to discuss our “first steps” assistance with you. A short meeting with you at your convenience is all that is needed start the ball rolling. 

FATCA in Bermuda


Bermuda FATCA Contacts

Bermuda FATCA Contacts

Charles Thresh

Managing Director


Tel   + 1 441 295 5063

Fax  + 1 441 295 9132


Contact by email

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Catherine Sheridan Moore

Head of Tax


Tel     + 1 441 295 5063

Fax    + 1 441 296 8929


Contact by email