What It Means To Be A QI


We cover every aspect of QI status, including it means to be a qualified intermediary (QI), what regulations are applicable and the impact these can have on your organisation, the documentation required, withholding rules, reporting standards, organisational structures and the obligations all QIs have for control and oversight of the QI process.

Who Should Attend?

Senior staff from financial institutions looking to achieve QI status

Department heads from financial institutions that have recently acquired QI status


  • Your firms current QI & FATCA status
  • What does being a QI mean?
  • Chapter 3 and other decisions
  • Convergence
    • FATCA vs QI
    • Structural similarities
Overview of IRC Chapter 3
  • IRS intent
  • Eligibility for QI status
  • Impact
  • The document, withhold, deposit, report and oversight cycle
  • Statistics
  • Types of account holder in Chapter 3
  • Taxation principle
  • Communications principle
  • Reporting principle
  • QI responsibilities
  • Importance of documentation
  • IRS forms
  • When should documentation be received
  • Due diligence
  • Indirect account holders
  • TIN requirements
  • Form W-8BEN Validity
  • Other Form Validity
  • Reliance – Form W-8IMY
  • Withholding Statements
  • Form W-8 IMY
    • Joint accounts
    • US branches
  • Form W-9
  • KYC documentation
  • Treaty statements
  • Failure to obtain documentation
  • Common documentation issues
  • Rate pool accounts
  • Withholding rate pool statements
  • Presumption rules
  • Common withholding issues
  • Forms and publications
  • Liabilities
  • Depositing tax
  • Timeliness of deposits
  • Reporting basics
  • Reporting model
  • Income related reporting issues
  • Deadlines
  • Issues with reportable amounts
  • Other reporting issues
  • Penalties for incomplete or incorrect reporting
  • Amended reporting cycle
Control and Oversight
  • AUP vs Periodic Review
  • Responsible Officers
  • Compliance program
  • Certifications
  • Material failures
  • Periodic reviews
  • Refunds within 1441 NRA
  • Long form
  • Simplified process


This course is offered on an in-house basis. Clients will be asked to provide some advance preparatory information which will then be used to customise the course materials so that the material is of more relevance to their situation.

This course can be delivered to a group of between 10 and 40 delegates over a period of either one or two days.

Two day courses cover the same content in more depth, with some additional material, exercises and workshops to help delegates absorb the content more effectively. There is also a greater amount of time allowed for questions, so delegates have the time to structure and ask questions that are relevant to their circumstances.


Please complete our booking form below and we will be in touch to discuss your requirements and to provide a quote.

Contact Us

+44 (0) 1252 413551

Tilsmere House
30 Mill Lane
GU46 7TN