Investment Education PLC
http://www.investmenteducation.net/course.php?courseId=tl76hdi2um9lqj093tgf

Qualified Intermediary & US 1441 NRA Regulations
Last Updated - 9 August 2010
Todays Date -
Return to CoursePrint course
Duration 1 day
Available as an in-house course

Background

All financial institutions outside the USA receiving US source income for clients are affected by the US 1441 NRA regulations.  Penalties for non-compliance are severe.  Most institutions have become Qualified Intermediaries (QIs) to minimise the impact and to comply.  This can involve 'audits of compliance'.

 

This one-day course reviews the issues and regulations and their impact on non-US financial services companies. 

 

Delegates

  • Fund Managers, Private Bankers & Stockbrokers
  • Compliance and Regulatory Officers
  •  Operations and Back Office Managers
  • IT Executives involved with Compliance and Operational systems

 

Content

                   Introduction

o    Context, history & Intent

o    Base Principles

o    Forms, Notices, Publications & Resources

         Documentation

o    W-8, W-9 & KYC

o    Compliance issues

         Withholding

o    Account structures

o    S. 302

         Deposits

o    Form, method and timeliness

         Reporting

o    US Persons

o    non-US Persons

o    Compliance issues                                                                                        

         Control

o    Prevention, Detection, Deterrence, Correction

o    Authorised Employees

o    Notice of Material Failure

o    Evaluation of Risk

         AUP (Audit)

o    AUP Phases

o    Compliance issues

         Reclaims

o    US Simplified Procedure claim processing

         Upcoming changes

o    Penalties

o    Notice 2008-98

o    HIRE Act (FATCA)