General Goal
Offshore tax evasion is a serious global issue. Many countries have sought to protect the integrity of their tax systems and apply regulations similar to the FATCA regulations imposed by the USA for the benefit of their own state to collect information about their taxpayers across the globe. The CRS draws extensively on the intergovernmental approach to implementing FATCA. This program will assist you in understanding FATCA & CRS and how exactly candidates can implement their requirements, including Registration, Documentation, Due diligence, Implementation and reporting. Everything is explained easily in detail and followed with examples and cases studies. The study guide of this program is constructed in a very organized manner, utilizing the "Know-How" Concept to assist candidates in exercising the skills you obtain from the program in a very practical way.Issued by: Global Compliance Institute (GCI) / AUS
Outcomes
Understanding FATCA
- What is FATCA Exactly?
- Purpose of the FATCA regime
- The Scope of the Act
- Non-Compliance Consequences
- Types of FATCA Agreements
- Understand your responsibilities
- FATCA Governance Framework
- Registration and recertification steps.
Understanding CRS
- CRS Background
- Analyze the CRS requirements
- The differences between CRS and FATCA
FATCA and CRS In Practice
- How to Start?
- Who is subject and who is not?
- Build your database structure
- Remediate Your institutions' pre-existing Accounts
- Design & change Your customer onboarding process and KYC forms.
- Due-diligence procedures & Reasonableness tests.
- Tax Evasion Practices (Be Aware)
- How to deal with special Cases (Minor Accounts, Joint Accounts, POA, etc.)
- Recalcitrant Accounts and how to act
Documentation
- How to be smart in collecting data (Don’t Panic)?
- IRS FATCA forms and CRS Self-Certification
- How to verify (Avoid Report Rejection)
- How to Detect indicia and how to act
- Examples and case studies
Reporting
- Who is subject to FATCA & CRS reporting and who is not
- Types of Reports
- Timeline and Thresholds
- What to report
- Examples and cases
Target Group
FATCA Responsible Officers, and Customers relations, in the following industries:
- Banking Industry
- Insurance and reinsurance Companies
- Brokerage agencies
- Other Depository Institutions
Workers in the supervisory authorities, e.g.:
- Central Banks
- Tax and Treasury Department
- Financial Sector Regulatory Authorities
- Financial Intelligence Units (FIUs)
- Related Ministries and governmental bodies
Workers in the (IT solution firms) who provide FATCA & CRS solutions.
Tax Consultants & Lawyers.
Duration of Exam
Exam pass Mark
Contents
Understanding FATCA
Understanding CRS
FATCA and CRS In Practice
Documentation
Reporting
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Type of Traning
More info
Examination
Each candidate will receive an email from the GCI support team a few days before their exam date, which will include:
GCI_Remote Participant Guide (Please make sure they read it carefully along with the exam policy, which is available at the candidate portal).
- URL to access the exam.
- User Name.
- Password.
Candidates will experience an easy, hassle-free process with online proctored assessment. GCI have the best technology partners and assessment provider (Questionmark) and the strong GCI support team.
- Exam Duration: 60 Minutes.
- Number of Questions: 50 Questions.
- Type of Question: Multiple Choice.
- Pass Mark: 75/100.
Language: English Language
The fees will include the following benefits:
- Registration for the FCS certificate.
- Getting FCS study guide hard and soft copy , Getting access to online practice questions through the candidate portal.
- Attending the FCS training program (15 training hour) and “FCS Exam Preparation” sessions (3 training hour).
- The participant can take the exam under one of the following options:
1) The participant can take the exam from home or office during the period mentioned and agreed upon in the schedule above.
2) The participant can take the exam at the institute’s premises on the day mentioned in the schedule above.
- One Free retake exam (if candidates didn’t pass the exam from the first time).
- One-year membership with GCI.
- The E-certificate and accreditation from the GCI (if the participant pass the exam).
- Program attending certificate logos (if the participant’s absences did not exceed 20%).
- Candidates will be automatically updated with the latest versions of his/her certificate’s study guide, and they can take the corresponding Delta exam for free. The certificate will always be valid; Candidates will never have to pay outrageous fees for a re-certification exam. This service simply allows candidates to stay up-to-date on the latest information in a way that’s convenient and absolutely free).
Global Compliance Institute (GCI) / AUS
