Regulatory Compliance Services Webinar: FATCA and CRS : Why they won't go away! A revisit of ongoing regulatory compliance obligations

26 March 2019
11:00 AM (GMT+8)
Webinar  -  On demand

 Watch on demand here 


Some people believe that regulatory compliance obligations such as the Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) have come and gone. However, the reality is that these are perennial legal obligations, backed by penalties, which are here to stay.

FATCA requires the ongoing reporting to the U.S. tax authorities of information regarding U.S. persons holding financial assets outside of the U.S.:

  • Is FATCA a part of your ongoing reporting processes? Do you know what you need to declare if you are or are not a U.S person? Do you know that there is a validity period for each W-Form which is signed? Did you know that FATCA forms “expire” and need to be revisited on a 3-year basis?

CRS is an information standard for the Automatic Exchange Of Information (AEOI) regarding bank accounts on a global level and between international tax authorities. It was implemented in Hong Kong in 2017 and earlier at other jurisdictions such as BVI and Cayman Islands. 

  • What gets reported? What doesn’t?
  • Do you know who is considered a Controlling Person and what will be disclosed?
  • What is the difference between FATCA and CRS? What is a GIIN registration? How much will be disclosed? Who is affected? How do you file? What are the penalties? 

Companies in Hong Kong, APAC, and around the globe need to have answers and processes in place for all of the above issues, if not already, then certainly for 2019. Companies need to urgently review their FATCA and CRS status to ensure all documentation is updated and reported correctly and on time.

Key compliance deadlines for CRS in 2019 are approaching:

  • New Registrations - 30 April 2019
  • Reporting as Financial Institution - 31 May 2019

Join our local experts Leon Mao, Head of Family Business & Wealth Solutions in Hong Kong, and Elsa Chow, Team Head for Regulatory Compliance Solutions in Hong Kong, to understand the logic behind FATCA and CRS; who needs to comply, and the benefits of having TMF Group assist you to comply.

Who Should Attend?

  • In-house legal and compliance officers
  • Accounting and finance professionals
  • Company secretaries
  • Anyone who has exposure to CRS/FATCA and who needs to refresh on their obligations.

If you have any questions or experience technical issues, please contact us: info.apac@tmf-group.com