The first step of a bank or insurance company to comply with legal standards Fatca is to segregate its customers following very specific principles and document theses accounts:
Compliance Fatca
Account
Categorize
Pre-existing or new account
Low value or important
Identify if the assets on the account are reportable or out of scope Fatca
According to the client
Segregate and Categorize customers …
Determine if the customer is a US person
Documentation Fatca
Identify and Document your US Person Clients
Or if he has any signs of Americanness
Determine nationality and withholding rate on US securities
For ALL customers, whatever they are, to document each file with the justifying documents requested by the American tax office for its particular category
Follow the proxies, changes of identity, address
Renew outdated forms
Identifying and Documenting Your Customers US Person is essential for reporting
Detect non-compliant FFIs
Follow regulations to collect fines from non-compliant customers and calculate annual reporting
Identify and document your customers US Person
We work on Paris, of course, but also on the whole world.
We can also write your Fatca procedure manuals and job descriptions.
For all this, and much more, do not hesitate to contact us contact@boetieconseil.com and to request a quote or call us on 06 86 18 27 77 ours solutions are tailor made
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