Countdown to FATCA: What It Means To Your Financial Institution Webinar
The Foreign Account Tax Compliance Act (FATCA) will have far reaching implications for all financial institutions. Changes begin this Spring when US financial institutions are required to report interest payments on many foreign accounts on form 1042S. Now foreign financial institutions (FFIs) are registering with the US government to avoid 30% withholding on certain payments (see complete description below).
Click Here for Webinar Description and Audience
The Foreign Account Tax Compliance Act (FATCA) will have far reaching implications for all financial institutions. Changes begin this Spring when US financial institutions are required to report interest payments on many foreign accounts on form 1042S. Now foreign financial institutions (FFIs) are registering with the US government to avoid 30% withholding on certain payments. Most of this goes into effect in the middle of the year with other parts being phased in over the next few years. So what does this have to do with you? Well, the IRS has updated the W-9 for FATCA, a new W-8BEN and W-8BENE are in draft form. You will have to see if you have any payments going to FFIs that are not in compliance and begin withholding this summer.
What You Will Learn:
•What is this all about?
•Definitions and acronyms
•Timeframes and deadlines
•Review of the W-9 and W-8s
•Actions steps to avoid being out of compliance
•How to find the pieces you need if you have payments to foreign financial institutions
•Where is the list of participating foreign financial institutions? Why are there different categories?
•Who is exempt? What payments require withholding?
•And much much more
Who Should Attend?
Compliance Officers, Branch Administration, Training, Branch Personnel and anyone involved in opening foreign accounts and the tax reporting of payments overseas.
Click Here for Continuing Education Credits (CEC) Info
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.
Click Here for Viewing Option Descriptions
INCLUDES SEVEN DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. Participants can type and send their questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate in the same room.
SIX MONTH ONDEMAND VIDEO RECORDING:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
CD-ROM VIDEO RECORDING:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.