FATCA Compliance Review for Offshore Trusts and LLCs
March 2014
FATCA compliance is part of the standard administration of every structure the firm establishes — confirmed at inception and maintained through the lifespan of the entity.
The firm completed its formal FATCA compliance review in 2014 in collaboration with a leading European U.S.-tax compliance firm and U.S. tax counsel. Every trust, LLC, and IBC the firm administers passes through that review at inception and is maintained on an ongoing basis. Clients receive confirmation of FATCA registration with their establishment binder; existing clients receive a similar confirmation with their annual reports.
FATCA, the OECD Common Reporting Standard, and the successor regimes that have followed have made cross-border compliance a continuous discipline rather than a one-time filing. The firm treats it that way. There is no separate fee for the work; it is part of the annual fee that covers administration.