Rapid FATCA readiness
The Velocity FATCA Compliance & IRS Reporting (FCR) module provides a simple, yet powerful platform to scope, map, aggregate, and continuously update FATCA-relevant information in one place with integrated year-end IRS electronic reporting.
Riddle me this - Are you FATCA compliant?
The Foreign Account Tax Compliance Act (FATCA) is a United States federal law to enforce the requirements for United States persons, including those living outside the US, to file yearly reports on their non-US financial accounts. Foreign financial institutions agree to report on these US account holders or face 30 percent withholding on all US income.
Dynamic alerts and case management workflows
FATCA IRS reporting and integration capabilities with tax systems
Robust alert management reporting and dashboards
Effective identification, analysis, and reporting for FATCA compliance
Leveraging KYC/CIP data and the ability to integrate data from multiple sources
Application of IRS rules to identify customers who meet US indicia and balance thresholds
- Easily aggregate and flag customers and accounts
- Monitor change in circumstances
- Integrated IRS reporting
- Built-in data quality management
- Robust Alert Management workflows
- Dashboard and productivity reporting