FATCA Compliance and Implementation for FFIs: Mastering the Complexities Before the July 1 Deadline

IRS releases final FATCA regulations on Feb. 20, 2014

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Thursday, March 20, 2014

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Course Materials

This course will discuss the information reporting and withholding requirements under the newly released FFI agreement under the Foreign Account Tax Compliance Act (FATCA) regulations. The program will focus on the latest developments, changes from the proposed agreement released in Oct. 2013, and the final FATCA regulations released by the IRS and Treasury Department on Feb. 20, 2014.


On Feb 20,2014, the IRS released the final regulations to implement FATCA and are moving forward with the July 1, 2014 compliance deadline. In Dec. 2013, the IRS released the final agreement for foreign financial institutions (FFIs) that want to sign up for direct reporting of U.S.-owned accounts under FATCA. Banks and other financial entities will have to start reporting and withholding on July 1, 2014.

One of the key changes the new final agreement contains is a new flexibility to institutions that have “Model 2” intergovernmental agreements (IGAs) with the U.S. to implement FATCA. Tax professionals in business and public accounting must become familiar with the final agreement and regs to ensure accurate implementation and compliance.

In addition to IGA flexibility, the new agreement also contains an approach toward definitions by cross-referencing and certain corrections, clarifications, and conforming changes to take into account under FATCA. Advisors and tax staff must master the final agreement to understand how it meshes with FATCA regs as they report on U.S. assets in foreign financial accounts and withhold tax on certain payments, lest they risk the possible penalties and substantial interest.

Listen as our panel of experienced advisors cuts through the extensive and complex regs and recent changes to bring you the bottom line on reporting requirements for FFIs and prepares you to navigate the favorable and restrictive aspects.



  1. FATCA overview
  2. Agreement
  3. Grandfathering rules and key dates
  4. Inter-governmental agreements
  5. Exceptions from FATCA
  6. Security agreements


The panel will address these and other key issues:

  • Regulations vs. IGA.
  • Key FATCA dates going forward, including grandfathering rules.
  • Taxpayers exempt from FATCA or deemed compliant.
  • Elements of an appropriate FATCA compliance strategy under the final regs.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Colvin, John
John M. Colvin

Colvin & Hallett

Mr. Colvin's practice emphasizes federal tax controversies and white-collar criminal defense. He is a frequent...  |  Read More

Kelley C. Miller
Kelley C. Miller

Reed Smith

Ms. Miller's work emphasizes state tax planning and litigation, state and federal tax issues for closely held...  |  Read More

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