FATCA Challenges Differ by Industry Segment

While the regulations for the Foreign Account Tax Compliance Act (FATCA) are in proposed form, they do provide sufficient guidance to assist affected organizations in developing strategic and operational plans to help ensure FATCA compliance by the phased-in effective dates, which begin July 1, 2013 (July 1, 2012 for foreign financial institutions).

The challenges that organizations may face in implementing FATCA requirements differ, in part, on their industry. In the following FATCA: Challenges and Insights articles, KPMG LLP highlights some key issues the proposed regulations present to:

Asset managers

U.S. and foreign banks

Infrastructure funds

Insurance companies

Non-financial foreign entities

Pension funds

Private equity funds

Real estate funds