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Navigating FATCA & Tax Compliance through Sustained Reporting and Withholding Strategies

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Contributed by marcus evans
30 September, 2014

Marcus evans Legal Series invites Senior In-House Counsel and Heads of FATCA, Regulatory Compliance, and Tax Operations from Leading Financial Institutions to Share Best Practices for Preparing for the Future of Global Tax Compliance.

New York, NY– September 18, 2014 – For the third year in a row, marcus evans, the leader in legal/regulatory compliance business meetings, will host the FATCA and Global Tax Compliance Forum, November 4-6, 2014 at the DoubleTree by Hilton Hotel Metropolitan in New York City. Dana Flynn, Director, Tax Counsel at UBS Investment Bank, recently spoke with marcus evans about key topics in the industry that will be discussed at the upcoming meeting. All views and opinions expressed are solely those of Ms. Flynn and do not represent those of UBS Investment Bank.

This marcus evans conference comes at a pivotal time for the financial industry. With the global implementation of FATCA and anticipation of the Common Reporting Standard, the financial industry has never seen such a regulatory overload and focus on ensuring proper compliance processes. "While the US withholding and information reporting regime has grown throughout the years, FATCA truly expands the scope of that regime beyond what anyone in the industry could have foreseen years ago and brings to the forefront a new set of issues," explains Flynn.

As these multi-national regulations become implemented and processed, increased and more detailed reporting is necessary. "As a result of this new expansion, tax compliance standards for both US FIs and FFIs have to expand as well or risk non-compliance. Non-compliance carries financial, reputational and legal consequences that can be mitigated with proper controls and procedures in place to address the areas that are crucial to FATCA compliance: tax documentation, withholding and reporting."

The conference agenda aims to assist leaders within the legal industry in digesting and analyzing the intricate processes and regulations required by the US Government and the Organisation for Economic Co-operation and Development (OECD). Presentations will focus on the aforementioned topics, as well as implementing new systems to manage extraneous reporting demands, and how to prepare for an IRS audit. "Preparation for an IRS audit has to begin before the IRS actually arrives at your door. While it is currently unclear how the IRS will actually audit for purposes of FATCA, we can still prepare for such an audit by anticipating potential areas of review based on our knowledge of FATCA and the fact that it builds upon our current information reporting and withholding processes," says Flynn.

Flynn will be joined by a number of industry peers at the November conference to tackle these compliance issues, including:

Nicole M. De Santis, Vice President and Senior Counsel, Rabobank, N.A.

Dan Spadaccini, Global Head, Tax Operations, Deutsche Bank

Rasheed Khan, Vice President, Tax Operations, Goldman Sachs

Bill Holmes, Director, International Data Management, PMP, PgMP, US Internal Revenue Service

For more information on this conference & to get a complete list of speakers or sessions, click here for the conference agenda or email Tyler Kelch, Marketing & PR Coordinator at tylerke@marcusevansch.com.

About marcus evans marcus evans conferences annually produce over 2,000 high quality events designed to provide key strategic business information, best practice and networking opportunities for senior industry decision-makers. Our global reach is utilized to attract over 30,000 speakers annually, ensuring niche focused subject matter presented directly by practitioners and a diversity of information to assist our clients in adopting best practice in all business disciplines.


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