New York, NY, May 11, 2011 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, announced today that it has scheduled a live webcast entitled: “2011 Foreign Account Tax Compliance Act.” This two-hour event is scheduled on July 22, 2011 from 12:00 PM to 2:00 PM ET.
***Avail of a $50 discount in this event by applying the discount code "ode2789" on the second page of the registration form. Please visit the homepage below.*****
On April 8, 2011, the Internal Revenue Service (IRS) issued Notice 2011-34, which provides supplemental guidance on the preparation, documentation and withholding requirements under the Foreign Account Tax Compliance Act (FATCA), provisions of the Hiring Incentives to Restore Employment (HIRE) Act.
Under this new guidance, all foreign financial institutions (FFIs) will be required to enter special agreements with the Internal Revenue Services (IRS). These agreements include a new 30 percent withholding tax on certain foreign entities that refuse disclosure of the identities of these U.S. persons.
Some of the key areas addressed in this webcast:
- Important guidelines identifying U.S. accounts among their pre-existing individual accounts
- Initial guidance on passthru payments
- Obligation of FFIs to report with respect to U.S. accounts
- Rules for the treatment of qualified intermediaries under section 1471
- Application of section 1471 to expanded affiliated groups of FFIs
- Compliance date of FFI Agreements
- Executive management oversight with compliance reporting obligations to board of directors and monitoring bodies
- Due diligence and compliance requirements for both FFIs
- And other up to the minute compliance guidelines update
These changes will affect foreign banks and other financial institutions in any industry with an international operation. The question now is what’s a FFIs to do?
The Knowledge Group is assembling a panel of distinguished professionals and key regulators to help financial institutions, investment entities, and many other organizations understand the new regulations. The speakers will share their expert opinions in a two-hour live Webcast.
Alan Winston Granwell, Partner, DLA Piper
Erika Litvak, Shareholder, Greenberg Traurig LLP
Carol Tello, Partner, Sutherland Asbill & Brennan LLP
To register, please visit: http://knowledgecongress.org/event_2011_Tax_Compliance.html
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress bring together the world's leading authorities and industry participants through informative two-hour webcast that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.
For more information, please visit: www.knowledgecongress.org.