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 firstname.lastname@example.org