FATCA & CRS
Compliance Services
Streamline your Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting with our automated solutions and expert regulatory guidance.
Understanding FATCA & CRS Initiative
The FATCA/CRS regime was established to detect and document undisclosed assets held by citizens in foreign countries, imposing comprehensive reporting obligations on Financial Institutions (FFIs) across participating nations.
Global Tax Transparency
Enhanced international cooperation to combat tax evasion through systematic information exchange between EU and other countries, improving global financial transparency.
Regulatory Compliance
Mandatory annual XML reporting requirements for Foreign Financial Institutions (FFIs) to ensure compliance with OECD and IRS regulations.
FATCA & CRS Services
We Offer
Comprehensive compliance solutions designed to streamline your reporting
obligations and ensure regulatory adherence.
FATCA/CRS Consulting
Expert guidance on FATCA/CRS regulations, helping you understand compliance requirements and develop effective reporting strategies.
XML Report Generation
Automated generation of compliant XML reports meeting IRS and OECD standards for accurate and timely submissions.
System Integration
Seamless integration of FATCA/CRS reporting capabilities with your existing systems and data infrastructure.
Compliance Monitoring
Continuous monitoring of regulatory changes and automatic updates to ensure ongoing compliance with evolving requirements.
Data Management
Comprehensive data cleansing, validation, and management services to ensure accurate identification of reportable accounts.
Training & Support
Comprehensive training programs and ongoing support to build internal expertise and ensure smooth operation of compliance processes.
How Evalogical Helps
Our comprehensive FATCA/CRS solutions address every challenge with precision
and expertise, ensuring seamless compliance.
Account Aggregation & Linking
Our FATCA/CRS reporting services assist financial enterprises in linking accounts of individuals and entities across different business units, facilitating aggregation by referring to data elements such as customer name, ID and tax identification number.
Error-Free Reporting
Our inbuilt validation engine ensures that all your reports are compliant with FATCA/CRS validation rules. Errors and possible corrections are listed, reducing chances of inaccurate data submission.
Automated Reporting Solutions
Our automated FATCA/CRS reporting solution assists financial enterprises in collating accounts across different business units, streamlining the entire compliance process.
Compliance Maintenance
Our team of XML/XBRL experts with 20+ years of experience ensures each FATCA/CRS report is generated as per IRS/OECD requirements, supervisory authority, and local tax authority standards.
Our Clientele Testimonials
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Challenges in FATCA/CRS Reporting
Financial institutions face numerous obstacles in achieving FATCA/CRS compliance.
Here are the key challenges we help you overcome.
Identifying Reportable Accounts
The way firms record customer data may not be adequate to identify reportable data, requiring extensive data cleaning exercises to remain compliant.
System Integration
Multiple systems must be linked efficiently to enable data collation and aggregation, considering complex IT architecture and scalability requirements.
Reporting Schema Compliance
Implementation of relevant reporting schema to capture additional data requires in-depth understanding of FATCA requirements and taxonomy.
Operational Efficiency
Data often diverges across multiple products and region-specific repositories, making synchronization challenging for accurate reporting.
Resource Training
FATCA/CRS is exhaustive regulation requiring specialized knowledge, with employees often lacking absolute understanding of complex requirements.
Tight Deadlines
Critical tasks with stringent deadlines require external expertise to interpret regulations and identify business process impacts.
Elite Attributes That No
One Else Has
With unparalleled innovation and unrivaled precision,
we possess elite attributes that set us apart
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FAQ
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Mail us : info@evalogical.com
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