Services

FATCA Tools

​Our Foreign Account Tax Compliance Act (FATCA) Tools Platform augments an approach designed to help you overcome challenges posed by FATCA. These tools support each phase of an engagement and can be used in completing complex compliance documentation, and remediation tasks. Our FATCA Tools facilitate organization, efficiency, workflow management, and management insight into the ongoing analysis and the status of issue resolution throughout a FATCA engagement.

Web-based questionnaires

FATCA regulation-based questionnaire designed to help scope FATCA projects

Foreign Account Tax Compliance Act (FATCA) regulation-based questionnaires help scope your FATCA engagement in a focused, efficient manner, by analyzing the parts of the business and supporting systems with a FATCA impact.

Our web-based survey tool offers three types of questionnaires:

  • Grouping Questionnaire: Structured approach to collect, classify and consolidate legal entities / lines of business (LOBs)
  • Business Analysis Questionnaire: Higher-level analysis  to quantify the types of accounts and types of individuals and entities within a business unit
  • Gap Analysis Questionnaire: Detailed gap analysis  that identifies improvement areas and impacts related to systems, data and processes across: account opening, documentation, withholding, depositing and reporting

This tool also helps you to analyze:

  • Consolidated list of legal entities/LOBs impacted and not impacted by FATCA
  • Quantified impact of relevant legal entities/LOBs
  • List of system, data and process improvement areas related to FATCA

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FATCA Requirements Tools

Step-by-step guide to analyzing Foreign Account Tax Compliance Act (FATCA) classifications and decision flows with traceability from FATCA regulations to detailed system, data and process descriptions.

Our FATCA decision flow trees and traceability matrices offer guidance related to:

  • Foreign Financial Institution (“FFI”) Pre-existing Offshore Entity Accounts
  • FFI: Due Diligence Procedures for Pre-existing Offshore Individual Accounts
  • U.S. Withholding Agent (“USWA”) pre-existing offshore entity accounts

Our FATCA decision flow trees and traceability matrices provide:

  • Easy to understand decision flow trees to analyze FATCA requirements
  • Detailed decision points with a trace to FATCA guidance
  • Detailed data, system and process requirement considerations
  • Step-by-step guide not requiring in-depth FATCA experience

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Customer classification engine

Tool classifying individuals and entity accounts in an automated and manual fashion

Automated and manual classification of individual and entity accounts, when electronic data is available. Identifies exceptions for remediation workflows. Web-based and globally accessible tool built into Deloitte’s widely-used AML platforms.

This tool also offers:

  • Configurable electronic searches
  • A visual decision tree and questionnaire based on guidance from the legislation to reach classification manually, when electronic data is not available
  • Identification of accounts for remediation
  • Reporting focused on highlighting the remediation ‘buckets’ and underlying data quality issues identified during analysis

Our Customer Classification Engine provides:

  • Results to help map out the remediation strategy and the route to Foreign Account Tax Compliance Act (FATCA) compliance
  • Identified exceptions for remediation workflows
  • Prioritized accounts for remediation
  • Limited manual documentation searches
  • Quick, and configurable analysis of existing customers
  • A consistent approach across the enterprise
  • Accurate, real-time tracking/reporting
  • Secure delivery in client environment
  • Scalability - Available anywhere a network connection is present

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FATCA track

Provides view into remediation workflows, documentation to demonstrate compliance, and metrics-based status reporting

Web-based and globally accessible tool built into Deloitte’s widely-used AML platforms to give you a view into remediation workflows, documentation necessary to evidence compliance, and metrics-based status reporting.

FATCA TracK offers:

  • A client-defined workflow tool to facilitate remediation of existing accounts
  • Formatted and cleansed customer data to facilitate Foreign Account Tax Compliance Act (FATCA) analysis and classification of individuals and entities
  • A view into FATCA remediation workflows, documentation and reporting

FATCA TracK provides:

  • Reduced implementation and ongoing cost of FATCA
  • Streamlined record of customer contact to request documentation during the remediation process
  • An aggregate customer view
  • Configurable elements: workflow, roles, teams, reporting, and document integration
  • A consistent approach across the enterprise
  • A tool to facilitate efficient management of the remediation process
  • A proven solution – Created using existing experience in regulatory compliance, AML. Significant install base
  • Accurate, real-time reporting
  • Global use
  • Secure delivery in client environment
  • Scalability - Available anywhere a network connection is present

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