– due to the complexity and impact of FATCA, KPMG has combined the expertise and knowledge base of professionals from around the global network of member firms, including KPMG in the US's, Washington National tax practice. We have formed a Global Advisory Board of experts of experienced senior representatives from various disciplines including Forensic, Performance and Technology, and Tax practices. This group of senior leaders meets regularly to share best practices, tackle strategic issues and develop and refine solutions for clients.
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– Our FATCA global team includes former IRS professionals, who previously worked on FATCA and are the leading voices on this legislation in the market. As the leading provider of Qualified Intermediary audits, we have hands on understanding of withholding, reporting and customer remediation that will form the backbone of FATCA compliance.
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– With a good understanding of the impact and complexity of FATCA, KPMG has invested significant resources to developing the necessary tools and services to help clients get in shape for FATCA. For example, we have developed a robust training program to ensure consistently high comprehension of this legislation across our multi-disciplinary teams. We have trained over 150 professionals across the KPMG network through our FATCA Academy and have the ability to tailor our training sessions to meet the needs of our clients.
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– Using the experience gained from assisting other major financial institutions on FATCA, we have developed a leading methodology that increases efficiency, reduces implementation time and cuts the cost of compliance of our clients significantly. We have won industry awards for our ability to flex our models to meet the unique needs of our clients at technical and operational levels.
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FATCA rules and notices can seem complicated and daunting for any financial institution. KPMG works to cut through the complexity of FATCA by using a simple assessment, evaluation and implementation methodology. Tailored to the immediate and long term needs of each client, we provide a detailed impact assessment and high level design and individual workstreams for each of the areas covered in the regulation including governance, communications and training support.
- A program structure that complements your existing FATCA program and itemizes any areas of concern.
- A clear view of what work can and should be done now with the information that is known about the final regulations
- A fact-based foundation of information on which to make some business decisions
- A solid strategy on which to effectively manage internal and external stakeholders
- A proposed, practical approach about how best to tackle high impact and complex areas of compliance.
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