The reporting requirements introduced by FATCA, although focused on U.S. information demands, represented a significant expansion in the cross-border flow of personal financial information. CRS, which is based on FATCA concepts, is further increasing this cross-border sharing of information.

We are able to provide a number of services to enable our clients to whom we provide fiduciary services to comply with FATCA and CRS.

  • Entity Classification. Entities must first be classified according to the relevant criteria, which are different under FATCA and CRS. Documentation demonstrating the basis of this classification must then be produced. Our FATCA and CRS team is able to specify the information required in order to conduct classification, classify entities under both regimes and execute the relevant self-certification documentation – usually an IRS W-8BEN-E Form for FATCA and an Entity Self-Certification Form for CRS.
  • FATCA Sponsorship. Trident Trust Group companies, where applicable, are able to sponsor client FFI entities to which they provide fiduciary services, in order to ensure that they are compliant with FATCA.
  • Account Holder Validation. Identification of all Account Holders and ensuring that each is compliant with FATCA and/or CRS rules, advising which of the Account Holders represent U.S. Reportable Accounts and/or CRS Reportable Accounts and, where relevant, advising of the reporting dates for those accounts.
  • Reporting. We can ensure compliance with reporting protocols under FATCA and/or CRS, including submission of relevant IRS forms and reporting schema compliant with local competent authority requirements.