Foreign Financial Institution Reporting: FFI Agreement, Issues for U.S. Taxpayers, Due Diligence, Filing Form 8957
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE course will provide tax counsel and advisers with a detailed guide to preparing and filing a foreign financial institution (FFI) agreement. The panel will describe the FFI designation in depth, outline the due diligence and reporting requirements of a participating FFI, and discuss the mechanisms for avoiding mandatory withholding of pass-through income. The speakers will also analyze the model FFI Agreement and offer guidance on accurately completing the Form 8957 disclosures, as well as required documentation and record-keeping.
Outline
- FFI definitions and requirements
- Completing and reporting due diligence
- Renewing the FFI agreement
- Filing Form 8957
- Case study/illustrations
Benefits
The panel will review these and other important topics:
- Completing and reporting the required due diligence to the IRS
- Ensuring an FFI agreement is in place and that the FFI is in compliance with prior obligations
- Finalizing Form 8957
- Documenting the FATCA status of entity payees who are not account holders
Faculty
Bradley Mainguy, JD, LLM
Principal
CohnReznick
Mr. Mainguy has more than eight years of public accounting experience providing international tax services to clients... | Read More
Mr. Mainguy has more than eight years of public accounting experience providing international tax services to clients in a wide range of industries, as well as individuals and publicly traded companies. He has extensive experience working with multinational corporate clients on consulting and compliance projects, including global business model optimization and restructuring projects from the design and feasibility stage through implementation. He also has expertise in U.S. tax issues relating to both inbound and outbound investments, as well as navigating the increasingly complex network of reporting, disclosure, and withholding requirements arising from doing business in a global economy.
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Patrick J. McCormick, J.D., LL.M.
Founder/Managing Partner
McCormick Tax
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting... | Read More
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting obligations. He published national articles and given numerous national and local presentations on assorted areas of tax and estate planning law, including international tax and offshore compliance issues. His latest article on PFICs is titled Tax Reporting Implications of Foreign Mutual Funds. He is licensed to practice in the States of New Jersey, Florida, and Georgia, and the Commonwealth of Pennsylvania.
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