FATCA Competence Center 

FATCA was adopted by the U.S. congress as part of the HIRE Act and after a number of revisions, finally entered into force on 17 January 2013. FATCA aims primarily at preventing tax evasion by U.S. persons. Foreign financial institutions (FFIs) must conclude an agreement with the Internal Revenue Service (IRS) by 30 June 2014 at the latest and thus are obliged to regularly report extensively on US persons. If such institutions do not meet these obligations, they will become subject to a 30% withholding tax.
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FATCA has a significant impact on the business activities and business models of Swiss financial institutions. FFIs are now required to prepare solutions to meet the FATCA obligations. FFIs should also be ready to meet other local and international regulatory requirements while safeguarding Swiss banking secrecy. Such solutions will directly influence the cost and income structures of FFIs. For this reason, organizations should also determine other required changes to the business and operations models beyond arising compliance questions.


KPMG can support your firm in proactively addressing FATCA, providing an in-depth evaluation of possible effects of FATCA on your organization, followed by an analysis of options and potential adjustments to make structures compliant.



The FATCA Competence Center can assist you in the following areas:


  • Identification of U.S. accounts and withholdable payments (interest, dividends and sales proceeds from U.S. securities)
  • Analyze how FATCA impacts your business (strategically and operationally)
  • Develop strategic options to attain FATCA compliance
  • Define an exit strategy for specific clients
  • Designate an effective and smooth exit of US client relationships
  • Develop a FATCA-compliant business model and organizational setup in order to attain full compliance with US requirements, while respecting Swiss banking secrecy and data privacy laws
  • Establish effective monitoring and due diligence processes
  • Establish a sound and efficient FATCA reporting system
  • Review and redesign the IT setup
  • Provide support in Swiss regulatory issues and “ring-fencing” requirements
  • Provide support in in order to meet U.S. licensing requirements
  • Provide support for more extensive questions regarding the provision of cross-border activities, i.e. for licenses which may be required

Jürg Birri

Jürg Birri

Partner, Attorney-at-Law, Head of Legal, Head of Regulatory Competence Center

+41 58 249 35 48

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Regulatory Competence Center

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Our team of qualified financial professionals offers you a wide range of services as well as support with the application and interpretation of regulatory requirements.

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