The Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) constitute key tax transparency regulations that came into force respectively in 2014 and 2016. Both regulations have been transposed into the Luxembourg laws and have been amended by the law of 18 June 2020 known as "the FATCA and CRS governance law".
Since the 1st January 2021, all Luxembourg Financial Institutions ("FIs") are required to establish a FATCA/CRS compliance programme which includes various requirements (e.g. IT infrastructure, written policies and procedures, oversight in case of delegated functions). A second important pillar of this compliance programme requires FIs to implement proportionate effective controls on the respect of the FATCA and CRS due diligence and reporting obligations.
While presenting all important FATCA and CRS key principles with concrete examples, our expert will also present you some best-market practices to get an efficient FATCA/CRS operating model and reduce the challenges faced by FIs.
This training also provides with some insight about the recent regulatory updates (if any) and the controls and inquiries performed by the Luxembourg tax authorities.
This advanced module for the asset management and custody industry will also cover the FATCA/CRS classification of the funds and other vehicles within investment structures.
Price: 540.00 €
Language: Available in English and French
Number of participants: 20
You are interested in participating in this course but no sessions are currently scheduled? Please contact us and you will be added to our Show Interest list.
By the end of this training, the participants will be able to:
This training targets an audience that is exposed to the FATCA and CRS requirements in their (1st or 2nd) lines of defense role, in their internal controls or service provider functions.
More specifically, this training is aimed for employees of investment funds, management companies, transfer agents and custodian banks, willing to gain or deepen their FATCA and CRS knowledge and be aware of any recent regulatory updates or best-practice.
This training is coordinated by Pierre Kirsch, Partner, in charge of CRS/FATCA related tax consulting, within PwC TIR (the PSF of PwC Luxembourg). The team of trainers consists of experienced PwC specialists who are specialised in CRS/FATCA related issues.
As the team is intensively dealing with CRS, FATCA, we have gained far reaching technical as well as practical expertise in this respect. PwC is an active member of FATCA/CRS working groups of Luxembourg professional organisations. Furthermore, PwC supports similar initiatives of EFAMA (“European Fund and Asset Management Association”) with respect to CRS and FATCA.