Objectives

At the end of this training session (complete day), the participants will be able to understand the key concepts and procedures needed to handle on a day-to-day basis the various obligations stemming from the Luxembourg law provisions implementing the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS), with a specific focus on the fund industry.

The training consists of 2 sessions:

• 3,5 hours to go through the theory (with a bit of practice)
• 3,5 hours to go through the practice (with a bit of theory)

Attending both sessions is highly recommend but not mandatory. 

Content

History and Background

• FATCA & CRS
• Luxembourg context

Definition of Reportable Persons

• US Persons and Specified US Persons
• CRS Reportable Persons

Classification of Entities

• Financial Institutions
• Non-Financial (Foreign) Entities
• Controlling Persons

Due Diligence and Reporting Obligations and Procedures

• Financial Accounts and Account Holders
• Due diligence for pre-existing and new accounts
• Reporting procedures

Data Protection in the context of FATCA and CRS

Practical Cases

Speakers

Nicola Losito (Director, Arendt Regulatory & Consulting)

Lucile Dos Santos (Senior Associate, Tax Law, Arendt & Medernach).

Target Group

​People in charge of KYC and Compliance aspects, board members of Luxembourg investment structures, legal officers.

Duration

3, 5 hours 

Language

English

Price

550€

(rebate of 150 EUR on total budget if you join also the afternoon session)

For more information please contact us by e-mail at institute@arendt.com