Tax Authorities

CRS/FATCA One for Tax Authorities

Trans World Compliance, Inc. solutions for Tax Authorities includes: CRS/FATCA One for Tax Authorities™ and Country by Country Reporter™. These systems helps IRS Model 1 FATCA countries and OECD/G20 Common Reporting Standard (CRS) countries to securely collect, analyize, and diseminate the information to comply with international Automatic Exchange of Information (AEOI) agreements. (Click here to learn about Country by Country Reporter™.)

For Financial Institutions, they can upload data manually, via spreadsheet, or via XML. The data is checked for any deficiencies and any records with missing data are weeded out before they are sent to you for review. Financial Institutions can send data over as often as they like, and can get immediate feedback if their data was accepted, and if not why not. For Tax Authorities, we have made the process very simple.

 

The CRS/FATCA One for Tax Authorities™ Process:

Financial Institutions / Tax Authorities
  • FI Registers
  • TA approves and activates
Financial Institutions
  • Load the data into CRS/FATCA One for TAs via Spreadsheets or Manual Entry
  • Review the data to be submitted
  • Submit the data to the TA for review
Tax Authorities
  • Reviews submissions
  • Submits data to the IRS or to global tax authorities for CRS using direct connectivity to the Common Transmission System (CTS)
  • Checks submission results
Financial Institutions
  • Checks and updates submissions

The CRS/FATCA One for Tax Authorities™ Benefits:

  • FIs to submit data in easy spreadsheet format or manual entry
  • CRS/FATCA One converts to validated US XML / UK XML / CRS XML to reduce errors
  • XML is sent real-time
  • IRS accepts/rejects each FI submission
  • Immediate automated feedback to the TA and FIs
  • FIs can resubmit their own resubmissions
  • Maintains data provides audit trails and makes available all submitted data for the required six year retention period.
  • Allows submission of Test and Production data records.

 

Download the white paper: CRS/FATCA One for Tax Authorities    Country-by-Country Reporter

CRS/FATCA One for Tax Authorities

Trans World Compliance, Inc. solutions for Tax Authorities includes: CRS/FATCA One for Tax Authorities™ and Country by Country Reporter™. These systems helps IRS Model 1 FATCA countries and OECD/G20 Common Reporting Standard (CRS) countries to securely collect, analyize, and diseminate the information to comply with international Automatic Exchange of Information (AEOI) agreements. (Click here to learn about Country by Country Reporter™.)

For Financial Institutions, they can upload data manually, via spreadsheet, or via XML. The data is checked for any deficiencies and any records with missing data are weeded out before they are sent to you for review. Financial Institutions can send data over as often as they like, and can get immediate feedback if their data was accepted, and if not why not. For Tax Authorities, we have made the process very simple.

 

The CRS/FATCA One for Tax Authorities™ Process:

Financial Institutions / Tax Authorities
  • FI Registers
  • TA approves and activates
Financial Institutions
  • Load the data into CRS/FATCA One for TAs via Spreadsheets or Manual Entry
  • Review the data to be submitted
  • Submit the data to the TA for review
Tax Authorities
  • Reviews submissions
  • Submits data to the IRS or to global tax authorities for CRS using direct connectivity to the Common Transmission System (CTS)
  • Checks submission results
Financial Institutions
  • Checks and updates submissions

The CRS/FATCA One for Tax Authorities™ Benefits:

  • FIs to submit data in easy spreadsheet format or manual entry
  • CRS/FATCA One converts to validated US XML / UK XML / CRS XML to reduce errors
  • XML is sent real-time
  • IRS accepts/rejects each FI submission
  • Immediate automated feedback to the TA and FIs
  • FIs can resubmit their own resubmissions
  • Maintains data provides audit trails and makes available all submitted data for the required six year retention period.
  • Allows submission of Test and Production data records.

 

Download the white paper: CRS/FATCA One for Tax Authorities    Country-by-Country Reporter