CRS & FATCA
GENERAL STORE
DAC6 is now here at the CRS & FATCA General Store! We are diversifying our product range to cover the European Union’s new regime for Intermediary reporting. DAC6 is the EU version of the OECD MDRs–which mainly targets CRS avoidance–coupled with reporting on other activities the EU deems indicative of “aggressive” tax planning. Where any Cross-Border Arrangement satisfies one or more of the DAC6 Hallmarks for aggressive tax planning, EU-connected parties that qualify as “Intermediaries” or their clients (if no EU Intermediary can report), must disclose the required information about the Arrangement and the parties to it within 30 days.
With DAC6 in effect EU-wide since 1 January 2021, we are developing a menu of DAC6 tools to aid fiduciaries, financial advisors, lawyers, accountants and other potential Intermediaries to diagnose their duties under DAC6 and duly comply with them:
- Our DAC6 Guide for Fiduciaries concentrates on the DAC6 matters relevant to fiduciaries, providing a thorough analysis of their qualifications as reporting Intermediaries, a comprehensive review of the common fiduciary activities that result in DAC6 disclosure obligations and the mechanics of DAC6 reporting
- Our DAC6 Template Notification Letters, designed to be sent to clients, alerting them to their own DAC6 reporting obligations as Relevant Taxpayers where the fiduciary cannot submit the reports because they are not located in the EU, or where Legal Professional Privilege (LPP) bars the disclosure of the reportable information, or to be sent to other parties qualifying as DAC6 Intermediaries, where LPP applies
- Our DAC6 Package for Fiduciaries includes the DAC6 Guide for Fiduciaries, along with the set of DAC6 Template Notification Letters as appendices
- Our General Store DAC6 Technical Flowcharts guide the User through key sections of DAC6 analysis step-by-step, addressing the themes critical for DAC6 compliance.
The CRS & FATCA General Store remains your one-stop shop for the materials needed to fulfil past, on-going and future CRS and FATCA compliance needs. The General Store features documents that are mandatory for these regimes, such as CRS Compliance Programs for fiduciaries in The Bahamas, Bermuda, BVI, the Cayman Islands and Switzerland, as well as FATCA Compliance Programs and written sponsorship agreements for fiduciaries completing their FATCA Responsible Officers (RO) Certifications. We also offer an array of operational and educational products, including a CRS & FATCA Reporting Information Repository, a year-long subscription to Peter Cotorceanu’s peerless blog and videos from our intensive RO Certification Bootcamps.
All our products will save you time and expense against developing the needed expertise in-house or purchasing external advisory services on the topic.
In addition to the materials provided in the CRS & FATCA General Store, we also offer consulting services on CRS, FATCA and DAC6. For further details, please contact us at: [email protected]
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A FATCA Compliance Program for Fiduciaries (Cayman Edition) | This document sets out a FATCA Compliance Program for fiduciaries and advisors connected to Cayman private wealth management structures and is designed to satisfy the requirement mandating the adoption of “arrangements or procedures” sufficient to identify FATCA reportable accounts. Non-compliance with this requirement is a criminal offence and is punishable by a fine of up to USD 5,000 and/or up to two (2) years in prison. While this document is Cayman-specific, it can also be adapted to meet the requirements for Compliance Manuals for other jurisdictions. | USD 2,950.00 | |
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A FATCA Compliance Program for Fiduciaries (BVI Edition) | This document sets out a FATCA Compliance Program for fiduciaries connected to BVI private wealth management structures and is designed to satisfy the requirement mandating the adoption of “arrangements” sufficient to identify FATCA reportable accounts. Non-compliance with this requirement is a criminal offence and is punishable by a fine of up to USD 5,000 and/or up to two (2) years in prison. While this document is BVI-specific, it can also be adapted to meet the requirements for Compliance Manuals for other jurisdictions. | USD 1,950.00 | |
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1 Year Blog Subscription - Full Access to Peter Cotorceanu's G&TCA blogs | Peter's blogs are the most practical, detailed, and respected blogs on CRS and FATCA for the fiduciary industry worldwide. They are not your typical blogs. They provide in-depth analysis of key issues affecting trust companies, trusts and other private-client structures. You will have one year's access to all of Peter's blogs, both past and future. If you've read any of Peter's past blogs, you know that they are well worth the money. | USD 299.00 | |
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DAC6 Package for Fiduciaries | The package includes The General Store DAC6 Guide for Fiduciaries, along with The General Store DAC6 Template Notification Letters for its appendices. | USD 2,000.00 | |
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DAC6 Technical Flowcharts | The General Store DAC6 Technical Flowcharts guide the User through key sections of DAC6 analysis step-by-step, addressing the themes critical for DAC6 compliance. By assessing each Arrangement and the parties to it, the User of the DAC6 Technical Flowcharts can determine (i) whether an Arrangement qualifies as a Reportable Cross-Border Arrangement and, if so, (ii) the User’s own obligation (or the User’s client’s obligation) to disclose it. These General Store DAC6 Technical Flowcharts are critical tools for fiduciaries, financial advisors, lawyers, accountants and other potential Intermediaries to diagnose their compliance duties under DAC6. | USD 999.00 | |
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DAC6 Template Notification Letters | This set of three DAC6 Template Notification Letters–
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USD 500.00 | |
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DAC6 Guide for Fiduciaries | The General Store DAC6 Guide for Fiduciaries helps trustees and other fiduciaries navigate the compliance landscape of DAC6, clarifying the basic principles of DAC6 as relates to common activities within the private wealth management industry, while also identifying outlying aspects of DAC6 that might capture more exotic types of transactions, and closing with detailed instructions for preparing and submitting DAC6 reports.
The objective of The General Store DAC6 Guide for Fiduciaries is to steer the User through key sections of DAC6 analysis step-by-step, addressing each of the following themes critical for the DAC6 compliance of fiduciaries:
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USD 1,800.00 | |
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CRS Reporting Information Repository | The CRS Reporting Information Repository is an excel-based tool developed to aid fiduciaries in compiling and streamlining their collection of CRS (and FATCA) information. The Repository ensures that all the information necessary for CRS Reporting for multiple entity types across multiple jurisdictions is assembled in a user-friendly format. While designed to service the CRS reporting needs of fiduciaries of most private wealth planning structures, the tool remains adaptable to the interests or idiosyncrasies of your own unique operations. | USD 625.00 | |
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A CRS Compliance Program for Fiduciaries (Swiss Edition) | With the Federal Tax Authority launching its CRS-specific audits for Swiss Financial Institutions (FIs), many Swiss trustees, Single Family Offices and other fiduciaries will need to enhance and further document their compliance programs. Pursuant to the requirements in the Swiss CRS legislation and other sources of applicable guidance (all reviewed in the original German), this document sets out a CRS Compliance Program for fiduciaries connected to Swiss private wealth management structures. It is, however, readily adaptable to other jurisdictions and types of FIs. | USD 2,400.00 | |
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A CRS Compliance Program for Fiduciaries (Singaporean Edition) | The Inland Revenue Authority of Singapore (IRAS) directs all Singaporean Financial Institutions (SGFIs), including trustees on behalf of SGFI trusts, to implement a robust compliance program supported by policies and procedures that ensure full compliance with CRS in Singapore. Non-compliance with CRS obligations is an offence under section 105M(1) of the Income Tax Act, which may lead to fines and/or imprisonment. Pursuant to the requirements in the Singaporean CRS legislation and other sources of applicable guidance, this document sets out a CRS Compliance Program for fiduciaries connected to Singaporean private wealth management structures. It is, however, readily adaptable to other jurisdictions and types of FIs. | USD 2,000.00 | |
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A CRS Compliance Program for Fiduciaries (Cayman Edition) | Updated to include Cayman CRS Compliance Form requirements. Pursuant to the requirements in the Cayman CRS legislation and other sources of applicable guidance, this document sets out a CRS Compliance Program for fiduciaries managing Cayman private wealth management structures. It is, however, readily adaptable to other jurisdictions and types of FIs. | USD 2,950.00 | |
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A CRS Compliance Program for Fiduciaries (BVI Edition) | The International Tax Authority (ITA) of the British Virgin Islands (BVI) mandates that BVI Reporting Financial Institutions (FIs) and trustees of BVI Trustee-documented Trusts must adopt written policies and procedures for their CRS Compliance Program. Pursuant to the requirements in the BVI CRS legislation and other sources of applicable guidance, this document sets out a CRS Compliance Program for fiduciaries connected to BVI private wealth management structures. It is, however, readily adaptable to other jurisdictions and types of FIs. | USD 2,500.00 | |
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A CRS Compliance Program for Fiduciaries (Bermudian Edition) | The Bermudian Ministry of Finance mandates that Bermudian Financial Institutions (FIs) develop policies and procedures for CRS due diligence and reporting obligations. Pursuant to the requirements in the Bermudian CRS legislation and other sources of applicable guidance, this document sets out a CRS Compliance Program for fiduciaries connected to Bermudian private wealth management structures. It is, however, readily adaptable to other jurisdictions and types of FIs. | USD 2,950.00 | |
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A CRS Compliance Program for Fiduciaries (Bahamian Edition) | The Bahamian Ministry of Finance mandates that Bahamian Financial Institutions (FIs) develop written policies and procedures for CRS due diligence and reporting obligations . Pursuant to the requirements in the Bahamian CRS legislation and other sources of applicable guidance, this document sets out a CRS Compliance Program for fiduciaries connected to Bahamian private wealth management structures. It is, however, readily adaptable to other jurisdictions and types of FIs. | USD 1,600.00 | |
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The COPA and Periodic Certification Submissions - The Operational Steps | A set of slides, guiding the user through the RO Certification submission process. The set will feature annotated screenshots from the IRS Portal in order to anticipate and clarify any foreseeable questions or uncertainties. | USD 350.00 | |
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FATCA RO Premium Package | The FATCA RO Premium Package offers ROs a bundle of the following products, priced at a discount,
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USD 3,990.00 | |
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FATCA RO Bootcamp Video and Presentation Slides | HIGHLY RELEVANT TO ROs FROM ANY MODEL 2 IGA OR NON-IGA JURISDICITON… A video of the complete, 6.5-hour FATCA RO Bootcamp we conducted in Hamilton, Bermuda on 12 April 2018. As with all our full-day FATCA RO Bootcamps, we covered the technical and operational aspects of the FATCA RO Certification process in a comprehensive and accessible manner. As with the Bootcamp, the video splits into a morning session - focused on the technical requirements - and an afternoon session – focused on the operational ones. The video comes with a set of the slides used during the presentation as well. | USD 600.00 – USD 990.00 | Read more |
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FREE Introduction to the RO Periodic Certification | A 10-minute video clip from our FATCA RO Bootcamps in which we introduce you to the scope and contents of the FATCA RO Periodic Certification along with the slides used featuring certification checklist | FREE | |
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Mandatory Written Sponsorship Agreement (intragroup) | A written sponsorship agreement is a requirement for any sponsor RO submitting a Sponsor’s Periodic RO Certification. Our product is similar to standardized contract, including the components necessary for a FATCA sponsoring relationship, but pared down to core, operational elements for use in intragroup sponsoring relationships. | USD 990.00 | |
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Mandatory Written Sponsorship Agreement (external) | A written sponsorship agreement is a requirement for any sponsor RO submitting a Sponsor’s Periodic RO Certification. Our product is a standardized contract, in both Word and PDF versions, including the components necessary for a FATCA sponsoring relationship between third parties. It is adaptable to the relevant jurisdiction. | USD 1,250.00 | |
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A Fiduciary’s FATCA Compliance Program Policies (RO Certification Edition) | This document sets out FATCA Compliance Program policies for fiduciaries connected to private wealth management structures and may be relied upon to fulfill the corresponding FATCA Responsible Officer (RO) Certification requirements relevant to jurisdictions with Model 2 intergovernmental agreements (IGAs) and jurisdictions without an IGA. | USD 800.00 | |
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Question Submission | In order to submit a specific question to our DAC6/MDRs, CRS or FATCA experts, please click on the product name in the column to the left, which will guide you to a form for submission of your specific question. We will review the question and reply with a price quote for answering it. If you elect to move forward at that price, you will be sent to the payment page, make the payment and receive the answer in your email inbox within 48 hours. |
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