1-Hour Program

See Credit Details Below

Overview

CPE credit (NASBA QAS Self-Study) is available by completing and passing the program’s CPE Review & Exam.

While this program offers CPE (NASBA) credit, it has expired for CLE credit in many states. Please check the credit details below. No CLE certificate will be issued if credit has expired in your state.


Lecture Topics [01:05:43]

Upon the successful completion of this program, the participant will be able to:

  • Recall the implementation and present status of the Foreign Account Tax Compliance Act (FATCA).
  • Recognize key provisions contained in the final and temporary regulations issued under Internal Revenue Code (IRC) §§1471-1474 (“Chapter 4”).
  • Identify key provisions of the updated foreign financial institution (FFI) agreement.

Course Overview:

This program will focus on:

  • The implementation and status of the Foreign Account Tax Compliance Act (FATCA).
    • Enactment
    • Implementation
    • Current status
  • The final and temporary regulations issued under Internal Revenue Code (IRC) §§1471-1474 (“Chapter 4”).
    • Reporting rule
    • Documentary evidence
    • Definition of U.S. person
    • Sponsored entities
    • Classification status
  • The updated foreign financial institution (FFI) agreement.
    • Key provisions
    • IRS review of compliance
  • Proposed Chapter 4 regulations.

CPE Program Level: Update

Intended Audience: Lawyers, accountants, and other allied professionals advising domestic and foreign financial institutions on the due diligence, reporting, withholding, and certification obligations imposed by the Foreign Account Tax Compliance Act with respect to their U.S. customers.

Prerequisites: A general understanding of the annual disclosure requirements imposed on foreign financial institutions by the IRS, pursuant to the Foreign Account Tax Compliance Act, with respect to their U.S. customers.

Advanced Preparation: None

Instructional Method: QAS Self-Study

Updated: March 2019

Credit Details