FATCA – What you need to know

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

FATCA background

4 mins
FATCA Aims

16 mins
Corporations and partnership: Investments

25 mins
Trusts: Controlling persons

39 mins
New entity accounts (NEA)

59 mins
Specified foreign financial assets

83 mins

Course Description

The Foreign Account Tax Compliance Act is a federal law designed to combat offshore tax evasion by requiring individuals to report their financial accounts held outside of the United States and foreign financial institutions to report to the Internal Revenue Service (IRS) about their American clients.

This CE webinar addresses the requirements of FATCA and its impact on the reporting requirements of both taxpayers as well as foreign financial institutions as well as its impact on:

Capital Flight
Citizenship renunciation
Foreign relations
Extraterritoriality
Foreign banks willingness to hold US accounts

Major topics covered in this online CPE/CE webinar:

The FATCA reporting requirements on US taxpayers
The FATCA obligations on foreign financial institutions
Foreign financial institutions obligations to identify US taxpayers
The implementation of overseas withholding taxes
Reporting and retention of FATCA information

Learning Objectives

To define the need for, and origin of FATCA
To define the differing Foreign Financial Institutions
To explain who is affected by FATCA and how
To explain the effects on differing account types
To describe the effects on Substantial US Owners
To discuss the effects of FATCA on FSIs
To identify IRS Reporting Requirements

Recommended For

This IRS-Approved CE course is recommended for CPAs, EAs, AFSPs, Bank Managers, Compliance Officers, Information Reporting Officers, Tax Managers, CFOs, Controllers, Accounting Managers, Auditors, Compliance Managers, and Risk Managers.

Who Should Attend?

Annual Filing Season Program
Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
Certified Management Accountant (CMA)
Certified Public Accountant (CPA)
Enrolled Agent
Maryland Tax Preparers
Oregon Tax Preparers
Tax Accountant (Industry)
Tax Attorney
Tax Director (Industry)
Tax Firm
Tax Managers
Tax Practitioners
Tax Preparer
Tax Professionals
Tax Pros

Course Qualification

Webinar Qualifies For

2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
2 CPE Credit for Internal Audit Practitioner (IAP)
2 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00730-21-S)
2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
2 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0684)
2 CE Credit of Taxes for Annual Filing Season Program (AFSP)
2 CE Credit of Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00730-21-S)
2 CE Credit of Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00730-21-S)
2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
2 CE Credit for Certified Wealth Strategist (CWS)
2 General Credit for Accountant/Bookkeeper (ACCT./BK)

Additional details

Course Level :

Basic
Credits :

2
Instructional Method :

QAS Self Study
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Richard Cascarino, CRMA, CIA, CISM, CFE

Founder, Richard Cascarino & Associates

Richard Cascarino has, for the last thirty-three years, been providing Internal Audit, Fraud Audit, IS Audit Consultancy, Risk Management and Corporate Governance consultancy as well as Professional Development services to clients throughout the United States of America, the African region, Europe and the Middle East. These include Central Banks and Financial Institutions, some of the largest corporations, government departments, auditors general, and professional bodies in their respective countries.

He is also a visiting Lecturer at the University of the Witwatersrand, lead author of the book Internal Auditing - an Integrated Approach, published by Juta Publishing. In addition, he is the author of the Auditor's Guide to IT Auditing and Corporate Fraud and Internal Control: A Framework for Prevention" published by Wiley

Publishing He is also a contributor to QFINANCE – The Ultimate Resource published by Bloomsbury.

About Company

Richard Cascarino & Associates

www.rcascarino.com/

Richard Cascarino and Associates LLC are providers high quality consulting and training services worldwide. They are associated with some of the most experienced consultants and highest quality professional educators in the fields of Fraud Audit, IS Audit and IS Audit Training, Internal Audit and Internal Audit Training as well as Enterprise Risk Management.

Faq

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