Financial Institutions

CRS/FATCA One for Financial Institutions is an installed or cloud-based software solution that assists Financial Institutions with CRS and US FATCA reporting regulations and requirements.  It simplifies the reporting process by raising red, yellow, and green flags to identify data deficiencies, indicia, and any other issues.  Reportable records are formatted according to local jurisdiction requirements, and, where available, submitted directly to the tax authority.  CRS/FATCA One completes the CRS and FATCA process with extensive reporting and auditing capabilities.  

The CRS/FATCA One for Financial Institutions™ Process:

Extract Dec 31st snapshot of client data

  • Data can be loaded in any number of formats (manual, web services, excel spreadsheets)
  • Create a batch with an associated Rule Base (the Rule Base is client configured and determines the rules to be applied for flagging and XML generation)

Remediation

  • During the load process, red, yellow and green flags are raised to identify major deficiencies, minor deficiencies, or no issues
  • All flags cleared and data updates are recorded in an audit log
  • Supporting documents can be uploaded

Reporting Data

  • Provides reporting formats for over 100 jurisdictions
  • Specialized Rule Bases generate XML specific to reporting jurisdiction, year, and reporting type
  • Where available, provides direct reporting to the Tax Authority

Completing the Process

  • Extensive audit logs and reports are available in XML, PDF, and Excel

The CRS/FATCA One for Financial Institutions ™ Benefits:

  • Installation, training, and maintenance can be done completely remotely
  • Available in SaaS or installed and supports on a wide variety of O/S and DBs
  • Support for the complete CRS/FATCA reporting lifecycle
  • Includes reporting for over 100 different jurisdictional rules and formats
  • User friendly multi-lingual interface, documentation, and support
  • Support for voiding, updating, and resubmitting data
  • Multi-tenant, supporting organization hierarchies and multiple GIINs
  • Additional features tailored to support Fund and Trust reporting
  • Multiple input methods including manual data entry, spreadsheets, XML, and web services
  • Maintains data provides audit trails and makes available all submitted data for the required six year retention period
  • Multiple checks are made to ensure completeness of all XML generated
  • Support jurisdiction specific requirements such as signature, encryption, web services, sftp including direct delivery to the IRS systems

Additional Resources:

Download the CRS/FATCA One for Financial Institutions brochure

Request more information or schedule a demo today!

 

CRS/FATCA One for Financial Institutions is an installed or cloud-based software solution that assists Financial Institutions with CRS and US FATCA reporting regulations and requirements.  It simplifies the reporting process by raising red, yellow, and green flags to identify data deficiencies, indicia, and any other issues.  Reportable records are formatted according to local jurisdiction requirements, and, where available, submitted directly to the tax authority.  CRS/FATCA One completes the CRS and FATCA process with extensive reporting and auditing capabilities.  

The CRS/FATCA One for Financial Institutions™ Process:

Extract Dec 31st snapshot of client data

  • Data can be loaded in any number of formats (manual, web services, excel spreadsheets)
  • Create a batch with an associated Rule Base (the Rule Base is client configured and determines the rules to be applied for flagging and XML generation)

Remediation

  • During the load process, red, yellow and green flags are raised to identify major deficiencies, minor deficiencies, or no issues
  • All flags cleared and data updates are recorded in an audit log
  • Supporting documents can be uploaded

Reporting Data

  • Provides reporting formats for over 100 jurisdictions
  • Specialized Rule Bases generate XML specific to reporting jurisdiction, year, and reporting type
  • Where available, provides direct reporting to the Tax Authority

Completing the Process

  • Extensive audit logs and reports are available in XML, PDF, and Excel

The CRS/FATCA One for Financial Institutions ™ Benefits:

  • Installation, training, and maintenance can be done completely remotely
  • Available in SaaS or installed and supports on a wide variety of O/S and DBs
  • Support for the complete CRS/FATCA reporting lifecycle
  • Includes reporting for over 100 different jurisdictional rules and formats
  • User friendly multi-lingual interface, documentation, and support
  • Support for voiding, updating, and resubmitting data
  • Multi-tenant, supporting organization hierarchies and multiple GIINs
  • Additional features tailored to support Fund and Trust reporting
  • Multiple input methods including manual data entry, spreadsheets, XML, and web services
  • Maintains data provides audit trails and makes available all submitted data for the required six year retention period
  • Multiple checks are made to ensure completeness of all XML generated
  • Support jurisdiction specific requirements such as signature, encryption, web services, sftp including direct delivery to the IRS systems

Additional Resources:

Download the CRS/FATCA One for Financial Institutions brochure

Request more information or schedule a demo today!