AEOI (FATCA & CRS): Compliance and Technology, Hong Kong | Central Garden Rd  318F  ICBC Tower  Hong Kong Hong Kong  | Mon 12th November 2018 Lineup

AEOI (FATCA & CRS): Compliance and Technology, Hong Kong

Central Garden Rd 318F ICBC Tower Hong Kong in Hong Kong

Monday 12th - Tuesday 13th November 2018

9:00am til 5:00pm

No age restrictions

The course aims to demystify the complexity of both FACTA and the OECD Common Reporting Standard (CRS) frameworks.

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AEOI (FATCA & CRS): Compliance and Technology, Hong Kong on Monday 12th - Tuesday 13th November 2018

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The Training Course

This two day intermediate to advanced training course will provide delegates with a comprehensive understanding of the new United States Foreign Account Tax Compliance Act (FATCA) requirements, by combining theory with practice and by incorporating interactive learning elements. The course aims to demystify the complexity of both FACTA and the OECD Common Reporting Standard (CRS) frameworks. The course Expert Trainer will ensure that delegates fully understand the operational impact that FATCA and the OECD CRS will have on the business and on clients, as well as guiding delegates through necessary adaptation processes, compliance solutions, and the complexities of understanding the way the FATCA and OECD CRS frameworks operate around the world.

Day 1: A Review of AEOI (FATCA & CRS) Regulatory Frameworks

Session 1: The AEOI (FATCA & CRS) Regulatory Framework

  • An Overview of the AEOI (FATCA & CRS) Regulatory Framework, and Key FATCA Aims, Objectives and Milestones and Global Implementation and Impact.

  • FATCA Definitions (FFI; P-FFI; RDC-FFI; CDC-FFI; NFFE; GIIN; FDAP Income; RO; IGA; USWAs; Gross Proceeds; Passthru Payments; Grandfathered Obligations; Active Income; Passive Income).

  • The Three Pillars of FATCA (Classification; Documentation and Reporting Obligations; Withholding) and Civil and Criminal Penalties for Responsible Officers.

Session 2: The CRS Regulatory Framework

  • A Global Overview of CRS Reporting, Implementation Timelines, and 2017 and 2018 Reporting Deadlines.

  • A Review of the CRS (Standard for Automatic Exchange of Financial Account

  • Information), and the Model Competent Authority Agreement (Model CAA).

  • CRS Entity Management Liability and Sanctions for Errors and Non-Compliance.

Session 3: CRS Classification, Due Diligence, and Reporting

  • CRS Classification, Participating Financial Institutions, and Non-Resident Account Holders of CRS Participating Countries.

  • On-boarding of New Entity and Individual Accounts and Client On-boarding Solutions, Pre-Existing Account Due Diligence Procedures.

  • CRS Reporting (Foreign Debt, Equity Interests, Custody Accounts, Foreign Deposit Accounts), Reportable Accounts, and Enhanced File Review Procedures.

Day 2: AEOI (FATCA & CRS) Operational Compliance

Session 4: AEOI Technologies and Operational Compliance

  • FATCA and the OECD CRS Surveillance Challenges and Requirements.

  • Organisational and Regulatory Compliance Challenges (technologies, costs, productivity, reliability).

  • Gathering FATCA and OECD CRS Forms, Self-Certifications, Differentiated Schema and Filing Requirements.

  • Sourcing, segregating, and managing data across designated business units, systems, and jurisdictions.

Session 5: AEOI Legal Analysis

  • A Legal Review of the Model 1(Reciprocal 1A); Model 1 (Non-Reciprocal 1B); Model 2 (No Pre-Existing Tax Information Exchange Agreement (TIEA) or Double Tax Convention (DTC) Required); Model 2 (Pre-Existing TIEA or DTC).

  • A Review of the CRS Commentaries.

  • A Legal Review of the IRS FFI Agreement (Form 8957).

Session 6: AEOI (FATCA & CRS) Operational Compliance

  • Comparing FATCA and CRS Frameworks and Identifying Key Differences.

  • Identifying and Assessing Compliance and Non-Compliance Costs, Organisational Gap Analysis and Developing Effective AEOI Compliance Frameworks.

  • Responsible Office preparation, Certifications, and Onboarding and Client Relationships.

Session 7: AEOI (FATCA & CRS) Risk Management

  • A Review of the Model Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures.

  • A Review of Jurisdictional Trends and Operational Risk Review.

  • A Review of AEOI (FATCA & CRS) Loopholes and Avoidance Strategies.

Session 8: AEOI Technology Solutions, Thomson Reuters ONESOURCE

  • Data Extraction (Account Data, Account Holders Data); Reporting Engine (Data Identification, Consolidation, Validation, Look Ups, and Submission).

  • User WorkFlow (Data Importation, Validation against Jurisdiction Rule Sets); Workflow and Management Information Reporting; Streamlined Reporting Capabilities.

  • Form data capture; Template Form Amendment; Error and Discrepancy Detection; Automatic Form Validation; Process and Management Control; Global Regulatory Jurisdictional Compliance.

Please note: The event information above has been added by the organiser. Whilst we try to ensure all details are up-to-date we do not make any warranty or representation as to the accuracy or completeness of the information shown.