Software FATCA
The solution for FATCA reporting
FATCA reporting
FATCA regulation requires to report some banks account held by non-US financial entities. Since some years, Best Vision has been supporting financial institutions in their FATCA reporting with a solution aimed to reduce the time for reporting and the risks of errors. Our offer includes:
- a software that prepares for them the XML file necessary for reporting
- a back office service that supports customers in their preparatory activities
- the consultancy of FATCA professionals, for the management of specific issues
To Whom our services are intended?
All intermediaries from IGA 1 and IGA 2 countries.
Software Solution
The solution offered is proposed to manage easily, safely and in no time the reports FATCA, for countries IGA 1 and IGA 2.
Best Vision takes care of keeping the solution up to date, both from the regulatory point of view, taking into account all the changes that have occurred, and managing the aspects of information security according to the highest technological standards.
Our Clients always find the latest version of the software online, and it will always be ready for their reports. The only thing needed to use the software is an excel file containing the relevant information. The reporting file, XML, will be automatically created in accordance with the latest updates of IRS publications.
The advantage for the customer is that he has a reliable, easy-to-use tool.
Available modules
- FATCA FORM module, for the generation of FATCA XML
- CRS FORM module, for reporting CRS XML
- RECO QI form, to reconcile QI-depository payments
- QI FORM module, for the automatic generation and verification, PDF and TXT, of modules 1042 and 1042-s
Back-office Solution
We offer our customers the possibility to outsource all or part of the activity. We offer the possibility to use our specialized staff for the activities of:
- Data check of W9, W8 and KYC documentation
- Reporting management
- Support for internal/external audits
The activity is carried out remotely or onsite at the customer’s premises.
The Service is particularly useful for handling peak workloads, as well as the lack of dedicated staff on the part of the Client.
Compliance Consulting Service
We have the best tax professionals to offer our Clients precise and quality reply to their needs on FATCA. Our experts are also competent in the field of QI and CRS, for a correct international reporting of banking accounts.
We are mainly being hired by our Clients to assist them in:
- Clients documentation and taxation management
- Training of internal employees
- health-check of FATCA compliance
The domain of the consultancy is defined together with our Clients, to be extremely effective and efficient in terms of costs and timing.
