Articles

Gain deeper insight with articles that give our considered opinion and predictions of where the industry will go next.

5 things you need to know about U.S. tax reporting in 2022

If your firm is exposed to the US securities market, you may have a 1042-S and 1042 reporting obligation to the IRS. Find out more...

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  • Validating W-8 Forms: Cultivating an Eye for Detail

    We are often asked what constitutes a consequential or an inconsequential error when validating a W-8 form. Some errors are obviously consequential, but what happens if an error appears relatively trivial, such as an incorrect date format? In this post, we explore how you can assess the risks involved and make a judgement about whether to reject or validate a W-8 form.Read more

  • I speak English, French and FATCA

    Acronyms have two main uses: to facilitate efficient communication between professionals within a given discipline where the long form of technical terms would be unwieldy, and to create a barrier to communication - a secret language that you can only understand if you are within the profession. In this post, Ross McGill gives a quick guide to the acronyms of FATCA.Read more

  • GATCA: A Practical Guide to Global Anti-Tax Evasion Frameworks

    TConsult's subject matter experts Ross McGill, Chris Haye and Stuart Lipo have written a new book providing a practical guide to global anti-tax evasion frameworks. In this post, Stuart describes the context for the book...Read more

  • Are FATCA’s Dissenters Tilting at Windmills?

    Like Don Quixote, FATCA’s dissenters may have misidentified their enemy. So what is the problem with FATCA and what might happen if the anti-FATCA movement succeed in getting it repealed?Read more

  • The Challenges of GATCA

    The global anti-tax evasion frameworks that comprise GATCA have as many commonalities as they have differences, so it makes sense to approach regulatory compliance in a holistic fashion. In this post, we explore how smaller firms are responding to the pressures of compliance...Read more

  • FATCA Misconceptions

    For some within the industry, the mere mention of ‘FATCA’ is enough to spark compliance-nightmare flashbacks. The ever unpopular FATCA regulations have now been with us for seven years. But, despite its relative longevity, there are a surprising number of misconceptions surrounding FATCA....Read more

  • Will AEoI be the new Equifax?

    What are the data security risks associated with the AEoI framework? In this post, Ross McGill explores some of the risks and issues a stark warning to the financial services industry.Read more

  • Why W8? – Start re-papering over the cracks now!

    QIs and NQIs face a rare opportunity to dramatically increase their W-8 compliance rate by re-papering all existing clients using the IRS' new W-8 forms. Find out how such a project could benefit your firm and why it could be worth it in the long run.Read more

  • 3 Things To Annoy You About W-8s and 3 Things You’ll Love

    The IRS just made three HUGE changes to W-8 series of self certification forms used by almost every financial institution across the globe to categorise their non-US customers, and there's a lot to love...Read more

  • Remember your New Reporting Obligations Under AEoI / CRS

    You're just getting over the initial FATCA and QI reporting, submitted all of your 1042-S forms, and now you're looking ahead to September and the deadline for all those 1042 forms. However, you may need to report under AEoI/CRS at the same time. Are you planning ahead to avoid this headache?Read more