TMF Custom House Launches FATCA Solution

TMF Custom House Global Fund Services has launched a Foreign Account Tax Compliance Act (FATCA) solution that allows clients to hand over compliance responsibility for the law to TMF Custom House.
By Jake Safane(2147484770)
TMF Custom House Global Fund Services has launched a Foreign Account Tax Compliance Act (FATCA) solution that allows clients to hand over compliance responsibility for the law to TMF Custom House.

The solution advises clients on registration requirements and helps them register on the IRS portal for FATCA. After which, TMF Custom House gathers investor data, reviews and assesses the data and provide the relevant FATCA tax filings to relevant authorities.

“This is a complete offering for our fund clients, which is extremely substantive and allows the client to hand-off responsibility for the process to TMF Custom House. We are creating a database of relevant information on investors and entities in the investor pool in order for FATCA reporting to be accomplished. As a fund administrator, we have a natural, pre-existing relationship with each shareholder and are thus in the best position to ask the questions. We are already obtaining AML information, we understand the investor demographics, and importantly, where the subscription monies originated,” says Dermot Mockler, group head of Regulatory Affairs, Compliance & Anti-Money Laundering, TMF Custom House.

“TMF Custom House has always been focused on investors and the investor experience on behalf of fund managers. With today’s regulatory demands and high service level expectations, we are pleased to be ahead of the curve with a comprehensive solution for our clients’ FATCA requirements, which is a part of our substantive compliance and regulatory reporting service. As well as FATCA, the service includes providing assistance with tax transparency in several jurisdictions, including across the EU, with the European Union Savings Directive (EUSD), as well as in key regulations such as AML, and AIFMD,” says Mark Hedderman, CEO, TMF Custom House.

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