Global

FATCA - Introduction 

The Foreign Account Tax Compliance Act (FATCA) is U.S. legislation enacted by US Congress to prevent offshore tax abuses by U.S. persons. The draft FATCA rules are wide-ranging and will force global financial institutions, investment entities, as well as national banks and other financial organizations to report details on their U.S. clients directly.
White House

FATCA arrives at a time when financial institutions already face a range of significant economic and regulatory challenges, testing many banks capability and capacity to deliver. The FATCA requirements introduce a series of business and systems 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.


KPMG firms are well placed to support you in preparing for the FATCA deadlines; with over 50 FATCA client engagements being worked on by member firms around the world. We have invested in three-day, proprietary training of over 300 KPMG financial services professionals with deep tax, forensic, IT systems, and programme management expertise on the FATCA requirements and business implications. Further we have developed a range of automated tools designed to help clients quickly and accurately determine the potential impact and cost of FATCA on their businesses. Our FATCA Academy is accredited by former IRS professionals and is used by member firms’ clients to train their staff in-house.


We would be pleased to speak to you about how we can help you prepare for FATCA. Contact us for more information at FATCA@kpmg.com

 Contact

David M Neuenhaus

David M Neuenhaus

Global FATCA Lead Partner

+1 973 912 6348

Laurie Hatten-Boyd

Laurie Hatten-Boyd

Global FATCA Tax Lead

+1 206 913 4489

Laurence Birnbaum-Sarcy

Laurence Birnbaum-Sarcy

Global FATCA Advisory Risk Consulting Lead

+1 212 872 5808

 FATCA TaxNewsFlash