Skip to content

FATCA & CRS Training. Advice. Consultancy.

UK Based Courses for Project Managers, Responsible Officers and Risk and Compliance Professionals

  • Home
  • Changes since Baseline 1/1/2017
  • FATCA and CRS Courses & Training
    • Password Protected Course Materials
  • FATCA, CRS & CDOT explained in 25 minutes
  • Revised FATCA Regulations
  • Rule Map
  • Supporting Documents
    • 6 things you are not being told about FATCA, the IGAs and the CRS
    • 871(m)
    • Accounts Excluded from Financial Accounts
      • Excluded Products/Accounts
    • Blog
    • Chapter Four Entity Classifications Vs UK IGA Entity Classifications
    • Curing indicia under the CRS
    • Curing US indicia (under a Inter Governmental Agreement)
    • FATCA Reporting Deadline by Jurisdiction
    • FATCA, IGAs & CRS Regulatory Milestones and Dates
    • FINES
    • Guide to GATCA
    • How to Remediate 98% of Your Customers Without Reaching Out for a Self-Certification
    • IGA & AEOI Status of all nations by ISO 3166 Code
    • Jurisdictions
    • Mar 1, 2015 – List of Approved FFIs
    • Notice 2015-66
    • Reporting – What gets Reported and When and How?
    • Responsible Officer Attestations
    • Selection criteria for a CRS/FATCA adviser
    • The IRS reiterates that it will not be introducing a new FATCA schema for FY 2015
    • The key differences between FATCA and the CRS
    • Videos and Podcasts
    • Posts
  • Tax Self Certification via Google Forms
  • Terms and Definitions
    • 501(c) Organizations
    • 871(m)
    • Account
    • Account Holder
    • Account Number
    • Active NFE/Active NFFE
    • AES
    • AML Due Diligence
    • AML/KYC Procedures
    • Annuity Contract
    • Assumes primary withholding responsibility
    • Backup Withholding
    • Beneficial Owner
    • Blocked account
    • Branch
    • Broad Participation Retirement Fund
    • Broker
    • CA
    • Cash Value
    • Cash Value Insurance Contract
    • Central Bank
    • Central Securities Depository (CSD)
    • Certified deemed-compliant FFI
    • Certified deemed-compliant FFI with only low-value accounts
    • Certified deemed-compliant investment advisors and investment managers
    • Certified deemed-compliant limited life debt investment entity
    • Certified deemed-compliant nonregistering local bank
    • Certified deemed-compliant sponsored, closely held investment vehicle
    • Change in circumstances
    • Chapter 3
    • Chapter 4
    • Chapter 4 reportable amount
    • Chapter 4 status
    • Chapter 4 Withholding rate pool
    • Clearing organization
    • Closed Account
    • Collateral Accounts
    • Complex trust
    • Compliance FI
    • Consolidated obligations
    • Controlling Persons
    • CRL
    • Custodial Account
    • Custodial Institution
    • Customer master file
    • Deemed-compliant FFI
    • Deferred annuity contract
    • Depository account
    • Depository Institution
    • Direct Reporting NFFE (DR-NFFE)
    • Documentary Evidence
    • Documentation
    • Dormant account
    • Effective date of the FFI agreement
    • EIN
    • Election to be withheld upon
    • Electronically searchable information
    • Employer Identification Number (EIN)
    • Entity
    • Entity account
    • Entity wholly owned by exempt beneficial owners
    • Equity Interest
    • Escrow Account
    • Excepted inter-affiliate FFI
    • Excepted NFFE
    • Excepted nonfinancial entity in liquidation or bankruptcy
    • Excepted nonfinancial start-up company
    • Excepted territory NFFE
    • Excluded Account
    • Execution-Only Broker
    • Exempt Beneficial Owner
    • Exempt Collective Investment Vehicle
    • Exempt retirement plans
    • Expanded Affiliated Group
    • Expanded Affiliated Group (EAG) or FFIs
    • FATCA ID
    • FATF
    • FATF-compliant jurisdiction
    • FCPA
    • FFI
    • FFI Agreement
    • Financial Account
    • Financial Asset
    • Financial Institution (Fl) [also see Foreign Financial Institution]
    • Flow-through entity
    • Flow-through withholding certificate
    • Foreign Account Tax Compliance Act (FATCA)
    • Foreign entity
    • Foreign Financial Institution (FFI) [also see Financial Institution]
    • Foreign government, government of a US possession, or foreign central bank of issue
    • Foreign passthru payment
    • Foreign payee
    • Foreign person
    • Form 8957
    • FTP
    • Global Intermediary Identification Number (GIIN)
    • Governmental Entity
    • Grandfathered obligation
    • Grantor trust
    • Gross proceeds
    • Group annuity contract
    • Group insurance contract
    • HCTA
    • High Value Account
    • Holloway Contract
    • HTTPS
    • IDES
    • IGA
    • Immediate annuity
    • Indicia
    • Individual account
    • Insurance company
    • Insurance contract
    • Intergovernmental Agreement (IGA)
    • Intermediary
    • Intermediary withholding certificate
    • International Organization
    • Investment Entity
    • Investment-linked annuity contract
    • Investment-linked insurance contract
    • IRS
    • IRS FFI list
    • Lead (Lead FI)
    • Life annuity contract
    • Life insurance contract
    • Limited Branch
    • Limited FFI
    • Local Foreign Financial Institution
    • Lower Value Account
    • Member FI (Member)
    • Model 1 IGA
    • Model 2 IGA
    • Narrow Participation Retirement Fund
    • New Account
    • New Entity Account
    • New Individual Account
    • NFE (also see NFFE)
    • NFFE (also see NFE)
    • Non-Exempt Recipient
    • Non-Participating FFI
    • Non-Reporting Financial Institution
    • Non-U.S. Account
    • Nonfinancial group entity
    • Nonprofit organization
    • Nonreporting IGA FFI
    • Nonreporting IGA FFI (including an FFI treated as a registered deemed-compliant FFI under an applicable Model 2 IGA)
    • NQI
    • NWP
    • NWT
    • OCSP
    • Offshore account
    • Offshore obligation
    • Owner
    • Owner-documented FFI
    • Participating FFI
    • Participating FFI group
    • Participating Financial Institution (PFFI)
    • Participating Jurisdiction
    • Partnership
    • Passive Income
    • Passive Income–Exceptions
    • Passive NFE
    • Passive NFFE
    • Passthru payment
    • Payee
    • Payment with respect to an offshore obligation
    • Payor
    • Pension Fund of a Governmental Entity, International Organisation or Central Bank
    • Permanent residence address
    • Person
    • PKI
    • Place of Birth
    • PMO
    • Point of Contact (POC)
    • Pre-FATCA Form W-8
    • Preexisting Account
    • Preexisting Entity Account
    • Preexisting Individual Account
    • Preexisting obligation
    • Prima facie FFI
    • Private Arrangement Intermediary (PAI)
    • Professionally Managed
    • Publicly traded NFFE or NFFE affiliate of a publicly traded corporation
    • QI agreement
    • QI branch of a U.S. financial institution
    • Qualified Collective Investment Vehicle
    • Qualified Credit Card Issuer
    • Qualified Intermediary (QI)
    • Qualifying Relationship
    • Reason To Know
    • Recalcitrant Account Holder
    • Registered Deemed-Compliant FFI (RDCFFI)
    • Regularly Traded
    • Related Entity
    • Relationship manager
    • Relevant Holding Company
    • Reportable Account
    • Reportable Jurisdiction
    • Reportable Jurisdiction Person
    • Reportable Payment
    • Reportable Person
    • Reporting Financial Institution
    • Reporting Model 1 FFI
    • Reporting Model 2 FFI
    • Residence Address (also see Permanent Residence Address)
    • Resident alien
    • Responsible Officer (RO)
    • Responsible Party
    • Restricted Distributor
    • Restricted Fund
    • RSA
    • Securitization structure
    • SFTP
    • Simple trust
    • Single FI (Single)
    • Specified Insurance Company
    • Specified U.S. person
    • Sponsored Direct Reporting NFFE
    • Sponsored FFI
    • Sponsored FFI group
    • Sponsoring Entity
    • SSH
    • Standardized industry code
    • Standing instructions to pay amounts
    • Subject to withholding
    • Substantial U.S. owner
    • Territory entity
    • Territory financial institution
    • Territory financial institution treated as a U.S. person
    • Territory NFFE
    • TIEA
    • TIN
    • TLS
    • Treasury Company
    • Trust
    • Trustee Documented Trust
    • U.S. Account
    • U.S. branch treated as a U.S. person
    • U.S. Financial Institution (USFI)
    • U.S. owned foreign entity
    • U.S. payee
    • U.S. payor
    • U.S. person
    • U.S. source FDAP income
    • U.S. Territory
    • U.S. withholding agent
    • Unique Identifier
    • United States
    • UTC
    • Withholdable payment
    • Withholding
    • Withholding agent
    • Withholding certificate
    • Withholding Foreign Partnership (WP)
    • Withholding Foreign Trust (WT)
    • Written statement
  • UK
    • Guidance
      • Automatic Exchange of Financial Information
        • 0 – Purpose and Status of this Guidance
        • 100000 – Introduction
        • 100020 – Background – Automatic Exchange of Financial Account Information
        • 100040 – Background – Foreign Account Tax Compliance Act (FATCA)
        • 100060 – Background – The Crown Dependencies and Overseas Territories Agreements (CDOT)
        • 100080 – Background – The Common Reporting Standard (CRS)
        • 100100 – Background – EU Directive on Administrative Cooperation (the DAC)
        • 100120 – How the Automatic Exchange Legislation Works
        • 100140 – The Wider Approach
        • 100500 – Timetable: Effective dates for agreements
        • 100520 – Timetable: Reporting: FATCA
        • 100540 – Timetable: Reporting: CDOT
        • 100580 – Timetable: Reporting: DAC/CRS
        • 100600 – Financial Institutions
        • 100620 – Financial Institutions: UK Financial Institutions
        • 100630 – Financial Institutions: Holding Companies and Treasury Centres
        • 100640 – Financial Institutions: Custodial Institutions
        • 100660 – Financial Institutions: Custodial Institutions: Execution Only Broker
        • 100680 – Financial Institutions: Custodial Institutions: Central Securities Depository
        • 100700 – Financial Institutions: Custodial Institutions: Trusts
        • 100720 – Financial Institutions: Custodial Institutions: Fund Nominees
        • 100740 – Financial Institutions: Depository Institutions
        • 100760 – Financial Institutions: Investment Entities
        • 100780 – Financial Institutions: Investment Entities: Examples
        • 100800 – Financial Institutions: Investment Entities: Trusts
        • 100820 – Financial Institutions: Investment Entities: Trust: Trusts Managed by a Financial Institution
        • 100840 – Financial Institutions: Specified Insurance Company
        • 100860 – Financial Institutions: Partnerships
        • 100880 – Financial Institutions: Personal Investment Company
        • 100900 – Financial Institutions: Securitisation Vehicles
        • 100920 – Financial Institutions: Non-Reporting Financial Institutions
        • 100930 – Financial Institutions: Non-Reporting Financial Institutions: Owner Documented Financial Institutions
        • 100940 – Financial Institutions: Non-Reporting Financial Institutions: Trustee- Documented Trusts
        • 100960 – Financial Institutions: Non-Reporting Financial Institutions: Non-Profit Organisations
        • 101500 – Financial Accounts
        • 101520 – Financial Accounts: Reportable Accounts
        • 101540 – Financial Accounts: Depository Accounts
        • 101580 – Financial Accounts: Custodial Accounts
        • 101600 – Financial Accounts: Custodial Accounts: Collateral
        • 101640 – Financial Accounts: Cash Value Insurance Contract
        • 101660 – Financial Accounts: Cash Value Insurance Contract: Examples
        • 101680 – Financial Accounts: Annuity Contracts
        • 101700 – Financial Accounts: Equity or Debt Interest in an Investment Entity
        • 101720 – Financial Accounts: Excluded Accounts
        • 101760 – Financial Accounts: Excluded Accounts: Retirement & Pension Accounts
        • 101780 – Financial Accounts: Excluded Accounts: Retirement & Pension Accounts: Cross Border Pensions
        • 101800 – Financial Accounts: Excluded Accounts: Retirement & Pension Accounts: ‘Holloway’ Contracts
        • 101820 Financial Accounts: Excluded Accounts: Other Tax Favoured Accounts and Products
        • 101840 – Financial Accounts: Excluded Accounts: Estate Accounts
        • 101860 – Financial Accounts: Excluded Accounts: Escrow Accounts
        • 101880 – Financial Accounts: Excluded Accounts: Depository Accounts with Unreturned Overpayments
        • 101900 – Financial Accounts: Excluded Accounts: Low Value Dormant Accounts
        • 102000 – Reportable Information: General Requirements
        • 102020 – Reportable Information: Address
        • 102040 – Reportable Information: Taxpayer Identification Number
        • 102060 – Reportable Information: Jurisdiction
        • 102080 – Reportable Information: Account Number
        • 102100 – Reportable Information: Reporting Financial Institution
        • 102120 – Reportable Information: Account Balance or Value
        • 102140 – Reportable Information: Account Balance or Value: Joint Accounts
        • 102160 – Reportable Information: Account Balance or Value: Multiple Jurisdictions
        • 102170 – Reportable Information: Account Closure
        • 102180 – Reportable Information: Place and Date of Birth
        • 102200 – Reportable Information: Custodial Accounts
        • 102220 – Reportable Information: Custodial Accounts: Gross Proceeds
        • 102240 – Reportable Information: Custodial Accounts: Gross Proceeds
        • 102260 – Reportable Information: Other Accounts
        • 102280 – Reportable Information: Currency
        • 102300 – Reportable Information: Paper and Electronic Records
        • 102320 – Reportable Information: Reasonable Efforts to Obtain
        • 102340 – Reportable Information: Reportable Jurisdictions
        • 102500 – Due Diligence: General Requirements
        • 102505 – Due Diligence: General Requirements: Requirement to Notify Account Holders
        • 102520 – Due Diligence: General Requirements: Identifying Reportable Accounts
        • 102540 – Due Diligence: General Requirements: Identifying Reportable Accounts: Examples
        • 102560 – Due Diligence: General Requirements: Date for Determining Balance or Value
        • 102565 – Due Diligence: General Requirements: Thresholds
        • 102570 – Due Diligence: General Requirements: Thresholds: Elections and Processes
        • 102580 – Due Diligence: General Requirements: Date for Determining the Balance or Value
        • 102600 – Due Diligence: General Requirements: Reliance on Service Providers
        • 102620 – Due Diligence: General Requirements: Alternative Procedures for Pre-Existing Accounts
        • 102640 – Due Diligence: Pre-Existing Individual Accounts
        • 102640 – Due Diligence: Pre-Existing Individual Accounts
        • 102660 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts
        • 102680 – Due Diligence: Pre-existing Individual Accounts: Lower Value Accounts: Residence Address Test
        • 102700 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Residence Address Definition
        • 102720 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Current Residence Address
        • 102720 Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Current Residence Address
        • 102740 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Residence Address: Dormant Accounts
        • 102760 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Residence Address Based on Documentary Evidence
        • 102780 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Record Search
        • 102800 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Record Search: Resident of a Reportable Jurisdiction
        • 102820 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Record Search: Unambiguous United States Place of Birth
        • 102840 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Record Search: Mailing or Residence Address
        • 102860 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Records Search: Qualified Intermediaries (FATCA)
        • 102860 Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Records Search: Qualified Intermediaries (FATCA)
        • 102880 – Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Record Search: Curing Indicia
        • 102900 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts
        • 102920 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Electronic Record Search
        • 102940 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Paper Record Search
        • 102960 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Paper Record Search: FATCA Exemption
        • 102980 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Paper Record Search: Relationship Manager Enquiry
        • 103000 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Relationship Manager Inquiry: Examples
        • 103020 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Change of Circumstance
        • 103040 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Hold Mail or In-Care-Of Address Only
        • 103060 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Lower Value Account Becomes High Value
        • 103080 -Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Effect of Finding Indicia
        • 103100 – Due Diligence: Pre-Existing Individual Accounts: High Value Accounts: Undocumented Account
        • 103120 – Due Diligence: New Individual Accounts
        • 103140 – Due Diligence: New Individual Accounts: Self-Certification
        • 103160 – Due Diligence: New Individual Accounts: Self-Certification: Examples
        • 103180 – Due Diligence: New Individual Accounts: Self-Certification: Incorrect or Unreliable
        • 103200 – Due Diligence: New Individual Accounts: Self-Certification: Change of Circumstances
        • 103200 Due Diligence: New Individual Accounts: Self-Certification: Change of Circumstances
        • 103220 – Due Diligence: Entity Accounts
        • 103225 – Due Diligence: Entity Accounts: Investment Entity with Regularly Traded Securities
        • 103240 – Due Diligence: Entity Accounts: Pre-Existing Accounts
        • 103260 – Due Diligence: Entity Accounts: Pre-Existing Accounts: Threshold Exemption
        • 103280 – Due Diligence: Entity Accounts: Pre-Existing Accounts: Reportable Accounts
        • 103300 – Due Diligence: Entity Accounts: Pre-Existing Accounts: Review Procedure for Account Holders
        • 103320 – Due Diligence: Entity Accounts: Pre-Existing Accounts: Review Procedure for Account Holders: Available Information
        • 103340 – Due Diligence: Entity Accounts: Pre-Existing Accounts: Review Procedure for Account Holders: Self-Certification
        • 103360 – Due Diligence: Entity Accounts: Pre-Existing Accounts: Review Procedure for Account Holders: Self-Certification as a Financial Institution
        • 103380 – Due Diligence: Entity Accounts: Pre-Existing Accounts: Review Procedure for Account Holders: Self-Certification as a NFE
        • 103400 – Due Diligence: Entity Accounts: Review Procedure for Controlling Persons
        • 103420 – Due Diligence: Entity Accounts: New Accounts
        • 103440 – Due Diligence: Entity Accounts: Determining Whether the Entity is a Reportable Person
        • 103460 – Due Diligence: Entity Accounts: Jurisdiction of Residence
        • 103480 – Due Diligence: Entity Accounts: Account held by Passive NFE with one or more Controlling Persons that are Reportable Persons
        • 103490 – Due Diligence: Special Rules: Reliance on Self-Certifications and Documentary Evidence
        • 103500 – Due Diligence: Special Rules: Reliance on Self-Certifications and Documentary Evidence: Reason to Know
        • 103520 – Due Diligence: Special Rules: Limits on Reason to Know: Examples
        • 103540 – Due Diligence: Special Rules: Alternative Procedures for Cash Value Insurance Contracts and Annuity Contracts
        • 103560 – Due Diligence: Special Rules: Account Balance Aggregation and Currency Rules
        • Financial Accounts: Excluded Accounts: Other Tax Favoured Accounts and Products –
      • CDOT
        • 01.00 – Background
        • 01.01 – The purpose of these Guidance notes
        • 01.02 – Scope of the agreements between the UK and the Crown Dependencies and Overseas Territories to improve international tax compliance
        • 01.03 – Interaction with US FATCA
        • 02.00 – Financial Institutions
        • 02.01 – Introduction
        • 02.02 – Holding Companies and Treasury
        • 02.03 – Other Financial Institutions
        • 02.04 – Exempt Beneficial Owners
        • 02.05 – Non-Reporting Financial Institutions
        • 02.06 – Not for profit Financial Institutions
        • 02.07 – Local Client Base Financial Institutions
        • 02.0701 – Thresholds
        • 02.0702 – Due Diligence
        • 02.0703 – Depository Accounts
        • 02.0704 – Accounts other than Depository Accounts
        • 02.0705 – Pre-existing Individual Specified Insurance Contracts
        • 02.0706 – Pre-existing Individual Accounts over $1,000,000
        • 02.08 – Non-Registering Local Banks
        • 02.09 – Credit Unions
        • 03.00 – Non-Financial Institutions
        • 03.01 – Non-Financial Foreign Entities (NFFEs)
        • 03.02 – Active NFFEs
        • 03.0201 – NFFEs based in US territories
        • 03.0202 – Governmental Entities
        • 03.0203 – Not for profit Organisations
        • 04.00 – Financial Accounts
        • 04.01 – Introduction
        • 04.02 – Insurance Contracts
        • 04.03 – Products exempt from being Financial Accounts
        • 05.00 – Due Diligence
        • 05.01 – Due Diligence
        • 05.02 – Acceptable Documentary Evidence
        • 05.03 – Self Certification
        • 05.04 – Confirming the Reasonableness of Self Certification
        • 05.05 – Tax Identification Numbers (TINs)
        • 05.06 – Change of Circumstance
        • 06.00 – Pre-existing Individual Accounts
        • 06.01 – Pre-existing Cash Value Insurance Contracts or Annuity Contracts
        • 06.02 – Electronic Searches and Lower Value Accounts
        • 06.03 – Identification of the account holder as a CD or Gibraltar resident
        • 06.05 – Current CD or Gibraltar mailing address/residence address (including “in-care-of” or “hold mail” address)
        • 06.06 – Current a currently effective power of attorney or signatory authority granted to a person with an address in a CD or Gibraltar
        • 06.07 – Standing Instructions to transfer funds to an account maintained in the CD or Gibraltar
        • 06.08 – High Value Accounts Exceptions to Paper Record Search
        • 07.00 – New Individual Accounts
        • 08.00 – Pre-existing Entity Accounts
        • 08.01 – Identification of an entity as a CD or Gibraltar Specified Person
        • 08.02 – Active/Passive NFFEs
        • 09.00 – New Entity Accounts
        • 10.00 – Tax residence
        • 10.01 – Tax residence of Individuals
        • 10.02 – UK tax residence
        • 10.03 – Tax Residence in the Isle of Man, Guernsey, Jersey and Gibraltar
        • 10.04 – Tax residence of Entities
        • 11.00 – Reporting
        • 11.01 – Information Required
        • 11.02 – Explanation of information required
        • 11.03 – Timetable for reporting
        • 12.00 – Compliance
        • 12.01 – Minor errors
        • 12.02 – Significant non-compliance
        • 12.03 – Reasonable efforts
        • 12.04 – Prevention of Avoidance
        • 12.05 – Sponsorship
        • 13. Registration
        • 13.00 – Registration
      • FATCA
        • 01.00 – Background
        • 01.01 – The purpose of these Guidance notes
        • 01.02 – Scope of FATCA
        • 01.03 – Interaction with US Regulations
        • 02.00 – Financial Institutions
        • 02.01 – Introduction
        • 02.02 – UK Financial Institutions (UKFIs)
        • 02.03 – Subsidiaries and Branches
        • 02.04 – Related Entities
        • 02.05 – Non-Participating Financial Institutions (NPFIs)
        • 02.06 – Non-Financial Foreign Entities (NFFEs)
        • 02.07 – Exempt Beneficial Owners
        • 02.08 – UK Government or UK Governmental Organisations
        • 02.09 – Central Banks
        • 02.10 – International Organisations
        • 02.11 – Retirement Funds
        • 02.12 – Deemed Compliant Financial Institutions
        • 02.13 – Local Client Base Financial Institutions
        • 02.14 – US Regulations Exemptions available to UK Financial Institutions
        • 02.15 – Registered Deemed Compliant Financial Institutions
        • 02.16 – Non-reporting members of Participating Foreign Financial Institution Groups
        • 02.17 – Qualified Collective Investment Vehicles
        • 02.18 – Restricted Funds
        • 02.19 – Qualified credit card issuers
        • 02.20 – Sponsored Investment Entities
        • 02.21 – Certified Deemed Compliant Financial Institutions
        • 02.22 – Non-Registering local bank
        • 02.23 Financial Institutions with only Low Value Accounts
        • 02.24 – Sponsored closely held Investment Vehicles
        • 02.25 – Owner Documented Foreign Financial Institutions
        • 02.25a – Limited Life Debt Investment Vehicles
        • 02.25b – Excepted Inter-affiliate FIs
        • 02.26 – Depository Institution
        • 02.27 – Custodial Institution
        • 02.28 – Investment Entity
        • 02.28a – Investment Advisers and Investment Managers
        • 02.29 – Specified Insurance Company
        • 02.30 – Holding Companies and Treasury Centres of Financial Groups
        • 02.31 – Collective Investment Schemes
        • 02.32 – Platforms and other distributors of funds
        • 02.33 – Fund Nominees – Distributors in chain of legal ownership
        • 02.34 – Advisory only distributors
        • 02.35 – Identification and reporting on interest in a Collective Investment Scheme
        • 02.36 – Trusts
        • 02.37 – Partnerships
        • 02.38 – Central Securities Depository
        • 02.39 – Personal Investment Companies
        • 02.40 – Securitisation Vehicles
        • 02.41 – Direct Reporting NFFEs and Sponsored Direct Reporting NFFEs
        • 03.00 – Financial Accounts
        • 03.01 – Introduction
        • 03.02 – Account Holders
        • 03.03 – Depository Account
        • 03.04 – Custodial Account
        • 03.05 – Insurance Contract
        • 03.06 – Cash Value Insurance Contract
        • 03.07 – Annuity Contract
        • 03.08 – An Equity or Debt Interest in an Investment Entity
        • 03.09 – An Equity or Debt Interest in a Holding Company or Treasury Centre of a Financial Group
        • 03.10 – Debt or Equity Interests regularly traded on an established securities market
        • 03.11 – Products exempt from being Financial Accounts
        • 03.12 – Retirement Accounts and Products
        • 03.13 – Certain Other Tax Favoured Accounts or Products
        • 03.14 – Accounts of Deceased Persons
        • 03.15 – Intermediary Account (Escrow accounts)
        • 03.16 – Undesignated/Designated Accounts
        • 03.17 – Segregated Accounts
        • 03.18 – Dormant Accounts
        • 03.19 – Rollovers
        • 03.20 – Syndicated Loans
        • 03.21 – Electronic Money Issuers
        • 04.00 – Due Diligence
        • 04.01 – General Requirements
        • 04.02 – Acceptable Documentary Evidence
        • 04.03 – Withholding Certificates
        • 04.04 – Non-IRS forms for individuals
        • 04.05 – Validity of Documentation
        • 04.06 – Retention of Documentary Evidence
        • 04.07 – Document sharing
        • 04.08 – Self Certification
        • 04.09 – Confirming the Reasonableness of Self Certification
        • 04.10 – Self Certification for New Individual Accounts
        • 04.11 – Self Certification for Pre-existing Individual Accounts
        • 04.12 – Self Certification for New Entity Accounts
        • 04.13 – Self Certification for Pre-existing Entity Accounts
        • 04.14 – Aggregation
        • 04.15 – Aggregation of Sponsored funds
        • 04.16 – Currency Conversion
        • 04.17 – Tax Identification Numbers (TINs)
        • 04.18 – Change of Circumstance
        • 04.18 – Mergers or Bulk Acquisitions of accounts
        • 04.18a – Assignment or Sale of Cash Value Insurance Contract
        • 04.19 – Mergers or Bulk Acquisitions of accounts
        • 04.20 – Arrangements for establishing tax residency
        • 04.21 – Information maintained for regulatory or customer relationship purposes
        • 05.00 – Pre-existing Individual Accounts
        • 05.01 – Threshold Exemptions that apply to Pre-existing Individual Accounts
        • 05.02 – Pre-existing Cash Value Insurance Contracts or Annuity Contracts unable to be sold to US residents
        • 05.03 – Reportable Accounts
        • 05.04 – Lower Value Accounts
        • 05.05 – Electronic Searches and Lower Value Accounts
        • 05.06 – Identification of the account holder as a US citizen or resident
        • 05.07 – Unambiguous US Place of Birth
        • 05.08 – Current US mailing address/residence address
        • 05.09 – One or more US telephone numbers associated with the account
        • 05.10 – Standing Instructions to transfer funds to an account maintained in the US
        • 05.11 – Effective Power of Attorney or Signatory Authority
        • 05.12 – High Value Accounts
        • 05.13 – Electronic Record searches and High Value Accounts
        • 05.14 – Paper Record search and High Value Accounts
        • 05.15 – Exceptions
        • 05.16 – Relationship Manager
        • 05.17 – Effects of Finding US Indicia
        • 05.18 – Timing of reviews
        • 06.00 – New Individual Accounts
        • 06.01 – Threshold Exemptions that apply to New Individual Accounts
        • 06.02 – Reportable Accounts
        • 06.03 – New Accounts for holders of Pre-existing Accounts
        • 06.04 – Identification of New Individual Accounts
        • 06.05 – Group Cash Value Insurance Contracts or group Annuity Contracts
        • 06.06 – Accounts held by beneficiaries of a Cash Value Insurance Contract that is a Life Insurance Contract
        • 06.07 – Reliance on Self Certification and Documentary evidence
        • 07.00 – Pre-existing Entity Accounts
        • 07.01 – Threshold Exemptions that apply to Pre-existing Entity Accounts
        • 07.02 Reportable Accounts
        • 07.03 – Standardised Industry Codes and US Indicia for Pre-existing Entities
        • 07.04 – Identification of an entity as a Specified US Person
        • 07.05 – Identification of an entity as a Financial Institution
        • 07.06 – Identification of an entity as a Non-Participating Financial Institution (NPFI)
        • 07.07 – Identification of an entity as a Non-Financial Foreign Entity (NFFE)
        • 07.08 – Timing of reviews
        • 08.00 – New Entity Accounts
        • 08.01 – Exemptions that apply to New Entity Accounts
        • 08.02 – Reportable Accounts
        • 08.03 – Identification of an entity as a Financial Institution
        • 08.04 – Identification of an entity as a Non-Participating Financial Institution
        • 08.05 – Identification of an entity account holder as a Specified US Person
        • 08.06 – Identification of an entity as a Non-Financial Foreign Entity (NFFE)
        • 09.00 – Reporting
        • 09.01 – Information Required
        • 09.02 – Explanation of information required
        • 09.03 – Timetable for reporting
        • 09.04 – Reporting on Non-Participating Financial Institutions
        • 09.05 – Reporting payments of US Source Withholdable Payments to Non-Participating Financial Institutions
        • 09.06 – Format
        • 09.07 – Transmission
        • 09.08 – Penalties
        • 10.00 – Compliance
        • 10.01 – Minor errors
        • 10.02 – Significant Non-Compliance
        • 10.03 – Tax Compliance Risk Management Process
        • 10.04 – Anti avoidance
        • 11.00 – Registration
    • Statutory Instruments
  • Videos
  • By Jurisdiction
    • Afghanistan
    • Åland Islands
    • Albania
    • Algeria
    • American Samoa
    • Andorra
    • Angola
    • Anguilla
    • Antarctica
    • Antigua and Barbuda
    • Argentina
    • Armenia
    • Aruba
    • Australia
    • Austria
    • Azerbaijan
    • Bahamas
    • Bahrain
    • Bangladesh
    • Barbados
    • Belarus
    • Belgium
    • Belize
    • Benin
    • Bermuda
    • Bhutan
    • Bolivia, Plurinational State of
    • Bonaire, Sint Eustatius and Saba
    • Bosnia and Herzegovina
    • Botswana
    • Bouvet Island
    • Brazil
    • British Indian Ocean Territory
    • Brunei Darussalam
    • Bulgaria
    • Burkina Faso
    • Burundi
    • Cambodia
    • Cameroon
    • Canada
    • Cape Verde
    • Cayman Islands
    • Central African Republic
    • Chad
    • Chile
    • China
    • Christmas Island
    • Cocos (Keeling) Islands
    • Colombia
    • Comoros
    • Congo
    • Congo, Democratic Republic of the
    • Cook Islands
    • Costa Rica
    • Cote d’Ivoire
    • Croatia
    • Cuba
    • Curaçao
    • Cyprus
    • Czech Republic
    • Denmark
    • Djibouti
    • Dominica
    • Dominican Republic
    • Ecuador
    • Egypt
    • El Salvador
    • Equatorial Guinea
    • Eritrea
    • Estonia
    • Ethiopia
    • Falkland Islands (Malvinas)
    • Faroe Islands
    • Fiji
    • Finland
    • France
    • French Guiana
    • French Polynesia
    • French Southern Territories
    • Gabon
    • Gambia
    • Georgia
    • Germany
    • Ghana
    • Gibraltar
    • Greece
    • Greenland
    • Grenada
    • Guadeloupe
    • Guam
    • Guatemala
    • Guernsey
    • Guinea
    • Guinea-Bissau
    • Guyana
    • Haiti
    • Heard Island and McDonald Islands
    • Holy See (Vatican City State)
    • Honduras
    • Hong Kong
    • Hungary
    • Iceland
    • India
    • Indonesia
    • Iran, Islamic Republic of
    • Iraq
    • Ireland
    • Isle of Man
    • Israel
    • Italy
    • Jamaica
    • Japan
    • Jersey
    • Jordan
    • Kazakhstan
    • Kenya
    • Kiribati
    • Korea, Democratic People’s Republic of
    • Korea, Republic of
    • Kosovo
    • Kuwait
    • Kyrgyzstan
    • Lao People’s Democratic Republic
    • Latvia
    • Lebanon
    • Lesotho
    • Liberia
    • Libya
    • Liechtenstein
    • Lithuania
    • Luxembourg
    • Macao
    • Macedonia, The Former Yugoslav Republic of
    • Madagascar
    • Malawi
    • Malaysia
    • Maldives
    • Mali
    • Malta
    • Marshall Islands
    • Martinique
    • Mauritania
    • Mauritius
    • Mayotte
    • Mexico
    • Micronesia, Federated States of
    • Moldova, Republic of
    • Monaco
    • Mongolia
    • Montenegro
    • Montserrat
    • Morocco
    • Mozambique
    • Myanmar
    • Namibia
    • Nauru
    • Nepal
    • Netherlands
    • New Caledonia
    • New Zealand
    • Nicaragua
    • Niger
    • Nigeria
    • Niue
    • Norfolk Island
    • Northern Mariana Islands
    • Norway
    • Oman
    • Pakistan
    • Palau
    • Palestine, State of
    • Panama
    • Papua New Guinea
    • Paraguay
    • Peru
    • Philippines
    • Pitcairn
    • Poland
    • Portugal
    • Puerto Rico
    • Qatar
    • Réunion
    • Romania
    • Russian Federation
    • Rwanda
    • Saint Helena, Ascension and Tristan da Cunha
    • Saint Kitts and Nevis
    • Saint Lucia
    • Saint Martin (French part)
    • Saint Pierre and Miquelon
    • Saint Vincent and The Grenadines
    • Saint-Barthélemy
    • Samoa
    • San Marino
    • São Tomé & Príncipe
    • Saudi Arabia
    • Senegal
    • Serbia
    • Seychelles
    • Sierra Leone
    • Singapore
    • Sint Maarten (Dutch part)
    • Slovakia
    • Slovenia
    • Solomon Islands
    • Somalia
    • South Africa
    • South Georgia and the South Sandwich Islands
    • South Sudan
    • Spain
    • Sri Lanka
    • Sudan
    • Suriname
    • Swaziland
    • Sweden
    • Switzerland
    • Syrian Arab Republic
    • Taiwan
    • Tajikistan
    • Tanzania, United Republic of
    • Thailand
    • Timor-Leste
    • Togo
    • Tokelau
    • Tonga
    • Trinidad and Tobago
    • Tunisia
    • Turkey
    • Turkmenistan
    • Turks and Caicos Islands
    • Tuvalu
    • Uganda
    • Ukraine
    • United Arab Emirates
    • United Kingdom
    • United States Minor Outlying Islands
    • United States of America
    • Uruguay
    • Uzbekistan
    • Vanuatu
    • Venezuela, Bolivarian Republic of
    • Viet Nam
    • Virgin Islands (British)
    • Virgin Islands (U.S.)
    • Wallis and Futuna
    • Western Sahara
    • Yemen
    • Zimbabwe
  • Chapter 4 Status Vs CRS Status Vs CDOT Status
HomeCOST OF COMPLIANCE 2018: Alignment with other risk and control functions, liaison with regulators

COST OF COMPLIANCE 2018: Alignment with other risk and control functions, liaison with regulators

July 24, 2018 Haydon Perryman, CGMA GATCA

COST OF COMPLIANCE 2018: Alignment with other risk and control functions, liaison with regulators Reuters Full coverage

Source: COST OF COMPLIANCE 2018: Alignment with other risk and control functions, liaison with regulators

Share this:

  • Facebook
  • LinkedIn
  • Reddit
  • Google
  • Twitter
  • Telegram
  • Pinterest
  • Email
  • Skype
  • Print
  • Tumblr
  • Pocket
  • WhatsApp

Like this:

Like Loading...

Post navigation

← Detailed guide: Penalties and appeals for money laundering supervision
Guidance: HMRC: your guide to making a voluntary disclosure →

Contact details

Email: haydon@haydonperryman.com
Mobile: +44 (0) 7788 268700
Skype: haydon.perryman
UK Landline: +44 (0) 208 1441311
US Landline: +1 209 753-4563
Timezone: BST / UTC+1

Top Posts & Pages

  • Financial Institution (Fl) [also see Foreign Financial Institution]
  • Passive NFE
  • Exempt Beneficial Owner
  • OECD Posts Self Certification Forms
  • Reportable Person
  • Reporting Financial Institution
  • Rule Map
  • Preexisting Account
  • Custodial Institution
  • Reportable Account

GATCA News

  • Talking crypto: Speed and costs reduction versus theft, poor security and criminal activity – Business Review August 9, 2018
  • INSIGHT: DAC 6—New EU Tax Disclosure Rules: Cause for Concern? August 8, 2018
  • The anti-money laundering stalemate August 2, 2018
  • Tax enforcement authorities unite to combat international tax crime and money laundering August 2, 2018
  • IT Dept detects undisclosed income of Rs. 125 Cr under FATCA August 2, 2018
  • Swiss court blocks French request for UBS banking data August 2, 2018
  • Swiss court backs UBS in French request for client data August 1, 2018
  • Justice Department Announces Addendum To Swiss Bank Program Category 2 Non-Prosecution Agreement With Bank Lombard Odier & Co. Ltd. August 1, 2018
  • FATCA Certifications due by December 15th 2018 July 31, 2018
  • Press release: HMRC warns it’s time to declare offshore assets July 31, 2018
  • Transparency data: Tax avoidance schemes: accelerated payments July 31, 2018
  • The UK must act now to stem the tide of money laundering July 31, 2018
  • New Money Laundering regulations edge closer July 30, 2018
  • Regulatory Report: US penalizes Swiss bank on graft, new FATF priorities, crypto rules, and more July 29, 2018
  • Financial Crime Wave – Standard Chartered DPA deadline, DOJ crushes IRS scammers, and more July 29, 2018

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 610 other followers

Blog Stats

  • 488,676 hits

RSS Feed

  • RSS - Posts
  • RSS - Comments

© Copyright, Haydon Perryman, 2016, 2017

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.
%d bloggers like this: