Manage FATCA Compliance with Ease
The US Foreign Account Tax Compliance Act (FATCA) places significant burdens on participating foreign financial institutions (FFIs). They need to collect and analyze substantial amounts of new data to perform IRS reporting, customer and counterparty classification, and withholding mechanisms.
Developed in close cooperation with banks and regulatory experts, the SIX FATCA compliance service delivers critical data on issuer identification and instrument status to your desktop. Timely, accurate, and streamlined, SIX significantly lightens the load of FATCA compliance.
How You Will Benefit
Automated instrument flagging
Easily identify instruments in scope of or grandfathered
Swift, seamless auditing
Replace error-prone manual processing with automated data delivery
Efficient in-house operations
Lower total compliance costs with extensive, automated, and timely data feeds
SIX Experts on Your Side
SIX provides the international financial industry with all data required to comply with FATCA, including institution-level classification and status and instrument-level tax status. We monitor instruments closely and immediately flag those that lose their status; we also cross-reference with other industry institutional identifiers to ensure compliance. As an active player in the financial sector, SIX closely follows regulatory developments, enabling us to provide comprehensive and timely support, as well as regulatory domain and market expertise.
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