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Course Description

Are you concerned about payments you are making to foreign accounts? Are you wondering whether your payees are US persons subject to FATCA withholding and reporting? This course will help you become acquainted with your FATCA data collection and reporting obligations. You will learn about the new legislation, the impact on IRS Forms W-9 and W-8, the grandfathering provisions, and when backup withholding is required. This course will also help you understand how to report payments made to US persons abroad.


Course Specifics

Sep 9, 2017

Compliance Information

IRS Provider #: OMYXB
IRS Course ID: 0MYXB-T-01233-17-O
IRS Federal Tax Law Credits: 2
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1183
CTEC Federal Tax Law Credits: 2
Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

  •  Identify the key components of FATCA and who FATCA impacts
  •  Cite how to register and become a compliant institution
  •  Identify GIIN number assignments and makeup and learn to recognize and test your payees for registration compliance
  •  Cite the requirements for identifying your potential US account holders of foreign accounts
  •  Identify the reporting requirements for FFIs, NFFIs, and US account holders
  •  Identify exemption provisions and determine what is reportable and what isn't
  •  Identify the exceptions to reporting grandfathering provisions


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