Thomson Reuters FATCA An integrated solution consisting of market-leading software with reporting capabilities

FATCA

Simplify your compliance.

The Foreign Account Tax Compliance Act (FATCA) will have a significant impact on most financial businesses.

While FATCA is designed to combat income tax avoidance most of the compliance burden will fall on Foreign Financial Institutions (FFIs). FATCA becomes effective from 1 July 2014 and FFIs should already be finalizing their plans for FATCA compliance.

Complexity made simple

Thomson Reuters for FATCA offers a straightforward solution to simplify the compliance process. It removes much of the burden of formulating and implementing a new compliance policy. It may also help to streamline operational procedures and reduce resource requirements, saving time and money.

Our solution is modular, offering both point solutions and a comprehensive end to end solution, customer centered and tailored to your organization’s needs. Our solution is localized and specific to a country or region.

With Thomson Reuters for FATCA you can future-proof your compliance program. Whatever direction evolving legislation takes, Thomson Reuters has a solution which will minimize the impact on your organization.

  • Full-service integrated solution
  • Market-leading software
  • Tailored for the needs of your organization

Market-leading compliance tools

Building on our market leading technology Thomson Reuters for FATCA brings together products already trusted by the 6 global professional services firms and by 49 of the top 50 financial institutions to resolve the issues surrounding regulatory compliance, tax documentation and tax reporting. Sophisticated software ensures seamless workflow and delivery.

Thomson Reuters for FATCA easily integrates with your existing processes:

  • Manage your onboarding: identify, classify and certify
  • Streamline your reporting: helping you to manage statutory filing and information
  • Keep ahead: up to date knowledge and ongoing eLearning

The Thomson Reuters for FATCA solution is both flexible and scalable to meet your specific needs. Each component is tried and tested and used daily by thousands of organizations around the world.

Thomson Reuters for FATCA Solution

Simplify your compliance process with market-leading compliance tools from Thomson Reuters.

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Thomson Reuters for FATCA key capabilities:

Onboarding

  • We facilitate rules-based FATCA client classification and identification as part of the on-boarding process and track changes of circumstance to keep client profiles up to date. We also manage complex income beneficiary hierarchies and pass-through structures.
  • Test for US Indicia with a rule and data engine that analyzes customer data and combines market leading information and complex matching rules to identify a US connection.
  • Collecting W-8, W-9 and future IGA forms through our online tax documentation solution gives a faster and more streamlined process for obtaining, updating and reporting tax and self-certification forms.

Reporting

  • Our tax information reporting module automates creating, printing and distributing the complete range of 1099 and 1042-S forms. The new FATCA and IGA reporting forms will be include when they are published. Electronic filing is supported where required.
  • We filter and flag over 8 million active records to identify those securities that are Grandfathered Obligations (GO) under the FATCA regulations. The GO status is integrated into the reporting and withholding process.

Knowledge

  • Our eLearning solution supports enterprise-wide FATCA education as well as specific jurisdictional and departmental programs. They drive active learning, retention, understanding and adoption, to ensure compliance at every level.
  • Our online knowledge solutions track relevant regulatory changes from national tax bodies, streamlining tax research and providing expert analysis. Breaking news alerts analyze the impact on your organization’s risk exposure.