• FATCA : Coping with the New US Disclosure Requirements

    January 28 2011, 08:30 - 08:30
    Location: AmCham France (156 bd. Haussmann)

    FATCA : Coping with the New US Disclosure Requirements

    With the “Foreign Account Tax Compliance Act” or FATCA, the US government has introduced significant new measures to stop US persons seeking to evade taxation through offshore accounts.  Effective after 2012, foreign financial institutions and other foreign entities will be subject to a 30% withholding tax on US-source payments received, unless these institutions enter an agreement with the IRS to identify accounts held by US persons together with prescribed information about such accounts.  

    Foreign financial institutions are essentially being called on to develop systems for identifying US accounts and to collecting the required information. The necessary adaption of procedures and IT systems is a significant cause of concern for non-US financial institutions.  For financial institutions, FATCA is in effect a multidisciplinary subject involving Tax, Compliance, Legal, Project Management and IT expertise.

    The Chairman of the Taxation Task Force of the American Chamber of Commerce is pleased to invite you to a breakfast roundtable to discuss the ramifications of this new law, to be held on

    Friday, January 28, 2011
    8:30 – 10:00
    AmCham France
    156 boulevard Haussmann – 75008 Paris

    During this meeting, we will review strategic measures that are already being considered by members of the financial community (private and retail banks, Insurers, asset managers, custodians, etc.), share experiences and discuss what appropriate decisions are being taken. We anticipate discussions of the following subjects:
    •    FATCA requirements and challenges to their implementation (Tax, Compliance, Legal, Project Management, IT, etc.);
    •    Shared experiences concerning FATCA projects;
    •    Discussions about the IRS latest guidance and what further information may be needed
    Professional advisors in Tax, Legal, Advisory and IT
    Representatives of French Financial Market Place Associations

    For your information, IRS representatives will be at the roundtable to hear the concerns and comments expressed by participants.
    Reservations must be received by close of business Wednesday, January 26, 2011.
    Cancellations and refunds cut-off: close of business January 26, 2011
    This is a forfait event for President’s Council, Corporate, Affiliate, Entrepreneur
    & Non-Profit Members
    Other Members: € 10 – Non Members & Guests: € 20