Fund administrator Opus Fund Services has launched a Foreign Account Tax Compliance Act (FATCA) compliance solution, which will be distributed through the FATCA Service Bureau, a joint service from Markit and Compliance Technologies International (CTI).
The FATCA Service Bureau came out in January this year and offers a range of solutions such as document management and tax resources to meet the demands of the law. Opus will add compliance services such as classifying funds and their investors, validating client documentation, electronically registering foreign financial institutions (FFIs), calculating withholdings for funds and IRS reporting.
“By integrating with the Markit offering, we can now provide a seamless solution for our clients. This enables required obligations to be met in advance of fast approaching deadlines, thereby avoiding punitive penalties for
our clients and their investors,” says Robin Bedford, chief executive officer of Opus.
Opus Fund Services Launches FATCA Compliance Solution
Fund administrator Opus Fund Services has launched a Foreign Account Tax Compliance Act (FATCA) compliance solution, which will be distributed through the FATCA Service Bureau, a joint service from Markit and Compliance Technologies International (CTI).
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