FATCA Implementation

TaxChambers LLP Tax Lawyers and Tax Advisors assist their clients in understanding the FATCA (“Foreign Account Tax Compliance Act”) framework and in assessing where the clients stand regarding FATCA compliance. Our U.S. Tax Services Group will assist clients in developing viable and operating strategies to ensure full FATCA compliance and the clients’ readiness for the new U.S. withholding regime, which may affect most Canadian taxpayers dealing with the U.S. clients and U.S. citizens, including in particular Canadian financial institutions, mutual funds, private equity funds, and investment firms.

TaxChambers LLP provides a complete range of FATCA consulting and compliance services to its clients to prepare them for the rigorous requirements under FATCA, including the following:

  • Review of applicable facts and circumstances to determine the extent to which FATCA may affect client’s operations and the client’s entity status for FATCA reporting purposes;
  • Developing FATCA implementation strategies and internal processes for FATCA compliance;
  • Accounting and Compliance Staff Training and developing internal FATCA-related policies and procedures;
  • External client memoranda on FATCA;
  • Advice on FATCA-related matters on a case-by-case basis.