William Byrnes' Tax, Wealth, and Risk Intelligence

LexisNexis FATCA Compliance Manual published

Fifty contributing authors from the professional and financial industry provide 600 pages of expert analysis within the LexisNexis® Guide to FATCA Compliance (2^nd Edition): many perspectives – one voice crafted by the primary author William Byrnes.

The LexisNexis® Guide to FATCA Compliance (2^nd Edition) comprises 34 Chapters grouped in three parts: compliance program (Chapters 1–4), analysis of FATCA regulations (Chapters 5–16) and analysis of FATCA’s application for certain trading partners of the U.S. (Chapters 17–34), including intergovernmental agreements as well as the OECD’s TRACE initiative for global automatic information exchange protocols and systems. The 34 chapters include many practical examples to assist a compliance officer contextualize the regulations, IGA provisions, and national rules enacted pursuant to an IGA.  Chapters include by example an in-depth analysis of the categorization of trusts pursuant to the Regulations and IGAs, operational specificity of the mechanisms of information capture, management and exchange by firms and between countries, insights as to the application of FATCA and the IGAs within new BRIC and European country chapters.

Non-U.S. residents may contact Nicole Hahn, LN International Accounts Manger, by e-mail or phone to order: Nicole.Hahn@lexisnexis.com or +1 518.487.3004.

This second edition of the LexisNexis® Guide to FATCA Compliance has been vastly improved based on over thirty in-house workshops and interviews with tier 1 banks, with company and trusts service providers, with government revenue departments, and with central banks. The enterprises are headquartered in the Caribbean, Latin America, Asia, Europe, and the United States, as are the revenue departments and the central bank staff interviewed.

Nine NEW chapters cover FATCA as it relates to: (1) the trust industry, (2) Ireland, (3) Spain, (4) Brazil, (5) China, (6) India, (7) Luxembourg, (8)Russia, and (9) Turkey.

Several new contributing authors joined the FATCA Expert Contributor team this edition. This second edition has been expanded from 25 to 34 chapters, with 150 new pages of regulatory and compliance analysis based upon industry feedback of internal challenges with systems implementation. The previous 25 chapters have been substantially updated, including many more practical examples to assist a compliance officer contextualize the regulations, IGA provisions, and national rules enacted pursuant to an IGA. The nine new chapters include by example an in-depth analysis of the categorization of trusts pursuant to the Regulations and IGAs, operational specificity of the mechanisms of information capture, management and exchange by firms and between countries, insights as to the application of FATCA and the IGAs within new BRIC and European country chapters.

This second edition will provide the financial enterprise?s FATCA compliance officer the tools for developing and maintaining a best practices compliance strategy, starting with determining what information is needed for planning the meetings with outside FATCA experts. This Guide may be leveraged in combination with the tools for identification of U.S. indicia of LexisNexis Risk Solutions (http://www.lexisnexis.com/risk/).

Chapter 1 Background and Current Status of FATCA
Chapter 2 Practical Considerations for Developing a FATCA Compliance Program
Chapter 3 FATCA Compliance and Integration of Information Technology
Chapter 4 Financial Institution Account Remediation
Chapter 5 FBAR and Form 8938 Reporting and List of International Taxpayer IRS Forms
Chapter 6 Determining U.S. Ownership of Foreign Entities
Chapter 7 Foreign Financial Institutions
Chapter 8 Non-Financial Foreign Entities
Chapter 9 FATCA and the Offshore Trust Industry
Chapter 10 FATCA and the Insurance Industry
Chapter 11 Withholding and Qualified Intermediary
Chapter 12 FATCA Withholding Compliance
Chapter 13 ”Withholdable” Payments
Chapter 14 Determining and Documenting the Payee
Chapter 15 Framework of Intergovernmental Agreements
Chapter 16 Analysis of Current Intergovernmental Agreements
Chapter 17 European Union Cross Border Information Reporting
Chapter 18 The OECD Role in Exchange of Information: The Trace Project, FATCA, and Beyond
Chapter 19 Germany-U.S. Intergovernmental Agreement and its Implementation
Chapter 20 Ireland-U.S. Intergovernmental Agreement and its Implementation
Chapter 21 Japan-U.S. Intergovernmental Agreement and its Implementation
Chapter 22 Mexico-U.S. Intergovernmental Agreement and its Implementation
Chapter 23 Switzerland-U.S. Intergovernmental Agreement and its Implementation
Chapter 24 The United Kingdom-U.S. Intergovernmental Agreement and its Implementation
Chapter 25 Exchange of Tax Information and the Impact of FATCA for Brazil
Chapter 26 Exchange of Tax Information and the Impact of FATCA for The British Virgin Islands
Chapter 27 Exchange of Tax Information and the Impact of FATCA for Canada
Chapter 28 Exchange of Tax Information and the Impact of FATCA for Spain
Chapter 29 Exchange of Tax Information and the Impact of FATCA for China
Chapter 30 Exchange of Tax Information and the Impact of FATCA for Netherlands
Chapter 31 Exchange of Tax Information and the Impact of FATCA for Luxembourg
Chapter 32 Exchange of Tax Information and the Impact of FATCA for Russia
Chapter 33 Exchange of Tax Information and the Impact of FATCA for Turkey
Chapter 34 Exchange of Tax Information and the Impact of FATCA for India

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