Fenergo Launches Fatca Self-Certification System
Fenergo, a provider of client onboarding lifecycle management systems, has launched an online portal that automates the collection of forms required as part of the Foreign Account Tax Compliance Act (Fatca).
Fatca, which will be rolled out from next year, is intended to combat tax evasion by US citizens with offshore accounts. It requires non-US financial institutions to search their data for clients who have Fatca compliance requirements and to then request the clients complete W-8 and W-9
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