Foreign Account Tax Compliance Act (FATCA)

The Foreign Account Tax Compliance Act (FATCA) is intended to detect and deter the evasion of US tax by US persons who hide money outside the US. FATCA creates greater transparency by strengthening information reporting and compliance by providing rules around the processes of documenting, reporting and withholding on a payee These rules not only impact the financial services sector, but also affect many entities outside of the traditional financial services sector with operations both in and outside of the United States.

Complying with FATCA

  • The ability to align all key stakeholders, including operations, technology, risk, legal, and tax, are critical to successfully complying with FATCA. Both financial institutions and nonfinancial multinational corporations should consider steps, including:
  • Analyzing legal entity structures, preparing withholding certificates and registering FFIs if required
  • Conducting gap analyses to identify systems and processes that must be updated
  • Developing implementation plans for the changes required for FATCA compliance
  • Performing due diligence on preexisting account holders and remediate non compliant accounts
  • Evaluating your controls related to FATCA compliance

How PwC can help you

To help you prepare, PwC has formed a network of FATCA specialists in key markets throughout the world. These professionals are part of our Global Information Reporting (GIR) practice, which brings together specialists who know the intricacies of tax law as well as local jurisdictions, rules and regulations.



Contact us

Frank Serravalli

Financial Markets Practice Leader, PwC US

Tel: +1 (646) 471 2669

John Gibson

Principal, PwC US

Tel: +1 (202) 414 4691

Dominick Dell'Imperio

Partner, PwC US

Tel: +1 (646) 471 2386

Candace Ewell

Tax, PwC US

Tel: +1 (202) 312 7694

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