The Irish Funds Industry Association held an information webinar on FATCA and its impact on Irish Financial Institutions on 29 July 2014. The webinar also addressed recent global initiatives in the area of Automatic Exchange of Information and considerations for non-Irish funds administered in Ireland. The main topics included:
- An update on the implementation of FATCA in Ireland including draft Regulations and Guidance Notes;
- A discussion on the registration of financial institutions on the IRS website and associated issues such as the role of the Responsible Officer for IGA Financial Institutions, the appointment of a Sponsoring Entity etc.;
- Analysis of the due diligence and reporting requirements under FATCA, including comments on the use of self-certification forms versus U.S. W-8 Forms; and
- A review of the broader requirements for information reporting, including UK FATCA and the OECD’s Common Reporting Standard.
- Ruth Kelly-McEwen, Compliance Regulatory and Technical Manager at State Street/IFDS Dublin
- Rebecca Maher, Tax Director, PwC Dublin
- Brian Boyle, Head of the Incentives and Financial Services Branch, Irish Revenue
The webinar recording is available for those who missed it or who may want to view it again. The webinar presentation and a Q&A document compiled from questions received during the webinar are also available for download here and here respectively. If you require any further information, please contact us at the IFIA on +353 (0)1 675 3200 or email email@example.com.