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FATCA tailored to your own business

Over the past two years, we have acquired a significant expertise in FATCA. As you may know from our weekly newsletter and live presentations, our general FATCA competence is unsurpassed in the Swiss market. Moreover, we have engaged in work for a variety of clients, allowing us to obtain practical experience in the application of FATCA to large international banks, insurance companies, asset management companies, trust companies and an assortment of other niche areas of the financial sector. In addition to our projects in Switzerland, Deloitte has a global FATCA offering that spans every jurisdiction and business sector affected by FATCA.

The U.S. released the final FATCA regulations in January and signed an intergovernmental agreement (IGA) with Switzerland in February. These long-awaited publications finalized the key FATCA obligations for Swiss financial institutions and, therefore, mark the beginning of a final push to implement FATCA compliance programs. Incorporating the final FATCA regulations, relevant intergovernmental agreements and the interactions amongst them all, we designed several different FATCA support packages as set forth in the descriptions above.

Click on the tabs and headings below to learn more.
Basic Presentation Package Tailored Workshop Package Technical Advisory Package

If you wish to meet with us, please let us know which topics you would like us to discuss and we will prepare a presentation adapted to your interests and the relevant engagement materials. Possible subject matters of a presentation include:

  • Pro-and-con comparison of different possible FATCA classifications;
  • Blueprint of interactions between final FATCA regulations and both models of intergovernmental agreements;
  • Checklist of Responsible Officer requirements;
  • Detailed overview of pre-existing individual customer classification procedures, including decision trees, indicia searches and required record-keeping for audits of review procedures;
  • Detailed overview of pre-existing entity customer classification procedures, including decision trees and supporting documentation needed for different classifications;
  • Vetted methodology of quality assurance through data sampling;
  • Outline of revisions to on-boarding requirements in order to ensure compliance; and
  • Specialized presentations crafted for niche financial sectors, such as asset management, fiduciary structures and insurers.

Cost will range from (CHF 2,500 – 10,000), depending on the size of the company, the duration and depth of the presentation and any additional decision trees or other materials selected by the client for purchase.

Similar to the basic presentation covering selected topics, but in advance we will review your specific documents, systems and processes and mold our advice to an assessment of your specific implementation program. We will conduct a workshop with key stakeholders in which we present the selected topics addressed to the company’s specific concerns and solicit feedback from the stakeholders at the meeting so that following the workshop we can prepare a roadmap of concrete steps needed over the subsequent months in order to meet crucial FATCA-imposed deadlines as efficiently and least disruptively as possible.

Cost will range from (CHF 15,000 – 40,000), depending on the size of the company, the duration and depth of the workshop and any additional decision trees selected by the client.

Beginning with either a basic presentation or a tailored workshop and followed with the availability to answer technical questions on an on-going basis, draft internal and external communications and training materials and provide training sessions with key personnel.

Cost for the technical advice will be based on actual time and materials.

Foreign Account Tax Compliance Act (FATCA)

On 17 January 2013, the IRS released the final guidelines for the Foreign Account Tax Compliance Act (FATCA).  Beginning in January 2014, virtually all non-U.S. financial intermediaries and withholding agents that own or hold U.S. investments will be subject to its information reporting and disclosure requirements. This U.S. legislation will greatly impact organizations’ tax functions, technology systems, operations, and business strategy.

As a recognized leader in both tax and technology, Deloitte is uniquely qualified to assess and address all of the implications related to compliance with FATCA. From analysis and remediation of existing systems to design and implementation of enterprise-wide systems and practical procedures needed to identify and report required information to the U.S. Internal Revenue Service, our specialists keep businesses one step ahead in this developing area of compliance and risk.

2013


FATCA News6
More from 2012 More from 2011

Research and insight

  • About our FATCA tools
    A summary of our proprietary FATCA Tools and how you can use these tools to accelerate the path to FATCA compliance.
  • Watch our three-part Deloitte Dash series
    In there we discuss insights from our recently released report, FATCA: The Path Forward. Part one in the series provides an understanding of the proposed rules by dividing them into four main areas; part two explores a phased approach for managing FATCA implications; and part three focuses on next steps including a different approach to implementing FATCA.
  • The path forward: A practical guide for analyzing and implementing the newly proposed Foreign Account Tax Compliance Act
    The report provides a deeper look into the potential implications proposed FATCA guidance may have on financial institutions, the strategies and policies they can employ to efficiently achieve compliance.
  • FATCA and funds
    FATCA is a new U.S. law to combat tax avoidance by U.S. taxpayers earning income outside the U.S. by requiring non-U.S. financial institutions...

Useful links

  • Join our team
  • Submit a request for proposal
  • Contact us
  • Public FATCA library

Newsletters

FATCA Insights Newsletter
Newsletter on draft regulations and recent updates in the world of FATCA
Subscribe FATCA Insights Newsletter
   
FAHTCAweekly Newsletter
This snapshot condenses the week’s key developments in FATCA, the Swiss Bilateral Tax Agreements and other pertinent tax and regulatory matters.
Subscribe FAHTCAweekly Newsletter

Learn more

Brandi Caruso on FATCA
Interview with Dukascopy TV
   
Watch the FATCA webcast replay
February 8, 2012 Treasury and IRS proposed regulations on FATCA
   
Watch the IGA webcast recording
   

 

Key contacts

  • Chris Tragheim
    FATCA Leader, EMEA
  • Brandi Caruso
    FATCA Leader, Switzerland
  • Annemarie Ruegger
    FSI Tax Leader, Switzerland
  • David Fidan
    Forensics FATCA Leader, Switzerland
  • Sergio Cruz
    Consulting FATCA Leader, Switzerland
  • Sinja Helfenstein
    AERS FATCA Leader (Analytics), Switzerland
  • René Schmid
    AERS FATCA Leader (Controls), Switzerland
  • Paul Millen
    FATCA Project Leader, Switzerland
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