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FATCA

Mozambican Financial Institution

FATCA

The Financial Institution completed the registration of the Foreign Account Tax Compliance Act (FATCA) with the American Internal Revenue Service (IRS). In this context, there was a need to implement a solution aligned with FATCA legislation, which meets the following main goals:

  • Identification and classification of new or pre-existing Customers for whom signs or evidence exist as to their being American citizens
  • Withholding of 30% for transactions whose income originates in the USA and whose recipients are Recalcitrant or Non-Participant
  • Customers Reporting according to FATCA's legislation directives

Case Study - FATCA.pdf