Ms. Scavella makes excellent points. Even if Bahamas enters into an iga, fatca's due diligence requirements will still be required. At Arthur Bell, CPAs, we've been working with our hedge fund and managed futures fund clients, encouraging them to act now. It will take time to build compliance procedures, processes, and controls to identify and document U.S. accounts. And a fund's administrator may not be as well-educated as the fund may think. Take a look at our FATCA Insights at http://www.arthurbellcpas.com/fatca-for… for more information and to track IGAs. Also, take a look at the three steps that funds should be taking now on my recently begun blog http://fatcaforfunds.com/.
mlewin says...
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On mlewin
Posted 20 May 2013, 2:29 p.m. Suggest removal
mlewin says...
Ms. Scavella makes excellent points. Even if Bahamas enters into an iga, fatca's due diligence requirements will still be required. At Arthur Bell, CPAs, we've been working with our hedge fund and managed futures fund clients, encouraging them to act now. It will take time to build compliance procedures, processes, and controls to identify and document U.S. accounts. And a fund's administrator may not be as well-educated as the fund may think. Take a look at our FATCA Insights at http://www.arthurbellcpas.com/fatca-for… for more information and to track IGAs. Also, take a look at the three steps that funds should be taking now on my recently begun blog http://fatcaforfunds.com/.
On Compliance officers preparing for FATCA
Posted 20 May 2013, 2:23 p.m. Suggest removal