• Global Information Reporting

    Managing FATCA, CRS and global information reporting while
    keeping pace with evolving regulatory responsibilities.

Scalable and innovative approach to the information reporting lifecycle.

Information reporting and withholding obligations are among the most significant compliance issues facing financial institutions and multinational companies involved in foreign investments and transactional activities. Global tax authorities are requiring more transparency into companies’ cross-border transactions, meaning businesses must be ready to prove compliance and provide real-time responses to avoid scrutiny, additional controls and potential tax controversy.

The Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) for the Automatic Exchange of Information are reconfiguring the way companies manage cross-border transactions, implementing processes and systems to comply with jurisdictional requirements.

U.S. withholding agents and foreign financial institutions must have processes in place to gather customer tax documentation and perform required tax reporting in order to avoid tax penalties. While requirements vary by jurisdiction, the risk of noncompliance is costly. Increased penalties and enforcement efforts necessitate the evaluation of policies and practices to ensure a strong compliance infrastructure. By improving internal processes and procedures, companies can mitigate the risk of noncompliance and ease the reporting burden of nonresident alien withholding, FATCA and CRS.

BDO offers a comprehensive, full-scale solution to address your information reporting lifecycle. We assess our clients’ needs, analyze risk and implement efficient and reliable strategies to prepare your organization for its withholding and reporting obligations. We utilize market-leading tax reporting software to help you manage and ensure compliance of your global tax obligations by easing tax onboarding, monitoring and applying regulatory updates, and reporting tax information on IRS forms including W-8, W-9, 1042, 1042-S, 1099, 945 and 8966.

Our team of technical professionals has extensive experience streamlining the validation and management of tax documentation and information reporting requirements. We also provide advisory services on a wide range of issues such as refund claims, backup withholding matters including Qualified Intermediary and Withholding Foreign Partnership reviews, FATCA and CRS legal entity classification, and guidance on drafting policies and procedures.

A robust global information reporting infrastructure will:
  • Help reduce the risk of noncompliance
  • Capture data properly and accurately manage customer tax documentation
  • Enhance your organization’s processes
  • Streamline your information reporting lifecycle

Maintain control of your organization’s information reporting obligations — and avoid unnecessary hefty penalties — with the flexibility and scalability of our one-stop shop solution.