FATCA Reporting

Foreign Account Tax Compliance Act (FATCA) requires Foreign Financial Institutions (FFIs) to report information about U.S. account holders to the IRS. For Model 2 jurisdictions, this means meeting specific registration, reporting, and coordination obligations directly with the IRS.

At Praestans, we support Foreign Financial Institutions in meeting their FATCA Model 2 reporting requirements with clarity and efficiency. Our team helps streamline FATCA compliance across jurisdictions by assisting clients with all their FATCA obligations. We simplify Model 2 FATCA compliance so your team can stay focused on core operations while meeting regulatory expectations with confidence.

How Praestans Supports Your FATCA Model 2 Requirements

• Registration & Account Setup
  We assist in completing FATCA registration for Model 2 institutions, including GIIN applications, portal setup, and required entity classifications.
  
• Reporting Preparation & Review
  Praestans supports clients in preparing and reviewing FATCA XML files, ensuring consistency and accuracy before submission to the IRS.
  
• Ongoing Compliance Coordination
  Our team guides you through yearly reporting cycles, updates to IRS requirements, and changes to intergovernmental agreements that may affect your obligations.
  
• Cross-Border Support for Global Fund Structures
  We work with multi-jurisdictional fund structures to support proper documentation, oversight, and reporting across regulatory environments.