This paper explores how FATCA’s requirements may impact the relationship between companies and their service providers, and discusses how service providers can work with their clients to understand their FATCA related needs and prepare to provide information to enable their clients to certify FATCA compliance.
FATCA: A perspective on service providers
PwC Partners, Jeff Trent and Tim Mueller, discuss how FATCA’s requirements impact the relationship between companies and their service providers.
Service providers need to be aware of FATCA requirements and understand the relationship to the services they offer to their clients. Changes to services offered, contract terms, liability provisions and/or internal controls reporting requirements are all possible effects of the FATCA regulation. Service providers must be knowledgeable about the challenges their clients are facing associated with FATCA and be prepared to respond to their clients’ changing needs as a result of the regulation.