Unravelling the Complexity of FATCA Reporting

AMLOCK With tremendous and complex changes sweeping tax regulations and information reporting, financial institutions face major challenges in complying with FATCA regulations. FATCA, which stands for Foreign Account Tax Compliance Act, requires foreign financial institutions to report to the Internal Revenue Service of US regarding their U.S. clients. To comply with the FATCA requirement, a financial institution should have a process in place to identify the eligible accounts, carry out due diligence on them and report them as required under the Act. For non-compliance, the foreign entities shall be liable to pay 30 percent tax on income earned through various U.S. sources.

AMLOCK’s FATCA Screening and Reporting provides a flexible, scalable and integrated solution to identify customers that match against U.S. Indicia and report to the regulator on FATCA applicable customers and their transactions.

Streamlined Efficiency with AMLOCK’s FATCA Reporting

We bring our knowledge and proven experience in the area of financial compliance to streamline, automate, and ensure total compliance at optimized costs.

Winning Business Outcomes

Safeguard your organization against financial crime and stay compliant with regulations with AMLOCK.

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