New FATCA solution for TMF clients
07 May 2014 Chicago
Image: Shutterstock
TMF Custom House Global Fund Services is offering a new Foreign Account Tax Compliance Act (FATCA) solution.
The solution offers fund clients a solution to FATCA, after IRS registration deadlines.
It will advise clients on registration requirements, gathering investor data, reviewing and assessing data, and will provide relevant FATCA tax filings.
Mark Hedderman, CEO of TMF Custom House, commented on the new solution: “We are pleased to be ahead of the curve with a comprehensive solution for our client’s FATCA requirements, which is a part of our compliance and regulatory reporting service.”
TMF will manage the process of data requesting and data input, and fund clients will be assisted in the registration of their funds for FATCA on the IRS portal. Eventually, both the fund administrator and client will have an understanding of the reporting required.
Additionally, TMF will report to the relevant authorities, depending on the fund domiciles, and it will manage the fund’s compliance with FATCA, including relevant tax authorities.
Dermot Mockler, group head of regulatory affairs, compliance and anti-money laundering at TMF Custom House, said: “This is a complete offering for our fund clients, which allows the client to hand-off responsibility for the process to TMF Custom House. “
“We are creating a database of information on investors and entities in the investor pool in order for FATCA reporting to be accomplished. We have a pre-existing relationship with each shareholder and are thus in the best position to ask the questions.”
“As well as FATCA, the service includes providing assistance with tax transparency in several jurisdictions, including across the EU, with the European Union Savings Directive (EUSD), as well as in key regulations such as AML, and AIFMD,” added Hedderman.
The solution offers fund clients a solution to FATCA, after IRS registration deadlines.
It will advise clients on registration requirements, gathering investor data, reviewing and assessing data, and will provide relevant FATCA tax filings.
Mark Hedderman, CEO of TMF Custom House, commented on the new solution: “We are pleased to be ahead of the curve with a comprehensive solution for our client’s FATCA requirements, which is a part of our compliance and regulatory reporting service.”
TMF will manage the process of data requesting and data input, and fund clients will be assisted in the registration of their funds for FATCA on the IRS portal. Eventually, both the fund administrator and client will have an understanding of the reporting required.
Additionally, TMF will report to the relevant authorities, depending on the fund domiciles, and it will manage the fund’s compliance with FATCA, including relevant tax authorities.
Dermot Mockler, group head of regulatory affairs, compliance and anti-money laundering at TMF Custom House, said: “This is a complete offering for our fund clients, which allows the client to hand-off responsibility for the process to TMF Custom House. “
“We are creating a database of information on investors and entities in the investor pool in order for FATCA reporting to be accomplished. We have a pre-existing relationship with each shareholder and are thus in the best position to ask the questions.”
“As well as FATCA, the service includes providing assistance with tax transparency in several jurisdictions, including across the EU, with the European Union Savings Directive (EUSD), as well as in key regulations such as AML, and AIFMD,” added Hedderman.
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