Retainer packages

Managed retainer

Comprehensive QI compliance, managed by experts

Your QI operations covered

Our Managed Retainer is designed for financial institutions that want to delegate the operational workload of QI compliance so they can concentrate on their core business. 

With this service, TConsult acts as your operational compliance partner, managing all key QI processes on your behalf. You simply review and approve materials before submission, while we take care of the rest. 

Who's it for?

  • Want to outsource as much of the operational QI activity as possible

  • Prefer expert-led execution of tasks such as documentation validation, withholding calculations, and report filing

  • Need peace of mind knowing their compliance is managed accurately, consistently, and in line with IRS requirements

What’s included

Application

  • Preparation and submission of QI application materials
  • Registration and support through the IRS QAAMS portal
  • Direct liaison with the IRS to resolve questions

Downstream documentation

  • Investor Self Declaration tool to collect digital substitute Forms W-8 and W-9
  • Validation of investor documentation
  • Tax rate tool to calculate correct withholding rates on income codes
  • Documentation renewal reminders to keep investor information current

Upstream documentation

  • Form W-8IMY preparation to ensure your upstream agents treat your accounts correctly
  • Liaison with upstream withholding agents to resolve documentation and account structure queries

Withholding

  • Withholding statement tool to collect and manage intermediary withholding statements
  • Preparation of withholding statements
  • Ongoing liaison with upstream withholding agents
  • Upstream data matching (monthly or quarterly) to maintain consistency

Depositing

  • Deposit instructions detailing how much to remit and when
  • EFTPS management to help you make payments to the U.S. Treasury efficiently

Reporting

  • Filing extensions for Forms 1042-S, 1042, and 1099 (as required)
  • Preparation and filing of 1042-S, 1042, and 1099 reports

Control and Oversight

  • Initial compliance review to identify and fix existing issues
  • Compliance manual development for a robust, documented control framework
  • Monitoring of QAAMS and FATCA portals for IRS correspondence
  • Raise-of-concern tool to record issues and corrective actions
  • Compliance spot checks and periodic review coordination
  • Certification preparation for your triennial certification of effective controls

Training

  • On-demand video training for your Responsible Officer and team including QI Essentials, FATCA Essentials courses
  • One-to-one mentoring for staff managing QI operations
  • Access to a knowledge base and document library with up-to-date IRS forms and guidance

Support

  • Unlimited consulting support from TConsult’s expert team
  • Simple explanations, not long reports full of tax technical jargon

Why choose the managed retainer

  • Transfer the operational workload of QI compliance to experienced specialists

  • Provide end-to-end management of documentation, withholding, reporting, and certification

  • Ensure compliance is handled accurately and on schedule

Fully managed compliance

With our Managed Retainer, your institution benefits from complete operational support, continuous oversight, and expert guidance — allowing you to focus on your business while we ensure your QI obligations are met. 

Contact us