BankTrainingCenter.com offers banking exams, banking degree training, and professional development for banking professionals
Course/Product Description
Title:

New And Enhanced FBAR And FATCA Reporting Requirements

SKU:WC-1023351
Date / Time: Recorded
Format: Webinar
Order:Qty:
Description:

Much attention has been focused on offshore bank accounts and the obligation of U.S. taxpayers to report such accounts on the much-heralded Report of Foreign Bank and Financial Accounts or FBAR form.

The FBAR rules require taxpayers to annually report whether they have a financial interest in, or signature or other authority over, foreign bank accounts, and impose substantial civil and criminal penalties for failing to do so.

The Internal Revenue Service has imposed additional reporting requirements that obligates U.S. taxpayers to annually disclose specified foreign financial assets when they file their personal income tax returns for 2011 and thereafter. In addition, the information reporting requirements of FATCA will require foreign banks and financial institutions to annually disclose to the IRS information about their U.S. depositors, and this has significant consequences for noncompliant U.S. taxpayers.

You will explore the new FATCA foreign asset reporting rules, be provided with an update on the existing FBAR reporting regime for foreign bank accounts, address the FATCA information reporting regime for foreign banks, and discuss the U.S. government's enforcement efforts.

AGENDA

Overview of FBAR and FATCA Rules

FATCA Foreign Asset Reporting Rules
  • Internal Revenue Code Section 6038D
  • IRS Form 8938 and Instructions
  • Who Is Required to File Form 8938?
  • What Foreign Assets Are Required to Be Reported?
  • Penalties for Nonfiling
Update on FBAR Reporting Requirements
  • Who Is Required to File an FBAR?
  • What Is Required to Be Reported on an FBAR?
  • Comparison of Form 8938 and FBAR Filing Requirements
  • Penalties for Nonfiling
FATCA Information Reporting Obligations for Foreign Banks
  • Background on FATCA Law and Regulations and Timetable for FATCA Implementation
  • Obligations of Foreign Financial Institutions (FFIs)
  • Status of Intergovernmental Agreements
  • Implications for U.S. Taxpayers With Foreign Bank Accounts
Update on IRS/DOJ Enforcement Activity
  • Criminal Enforcement of FBAR Reporting Requirements
  • Civil Enforcement/FBAR Audits
  • The Likely Future of Enforcement Activity
About The Presenters

Stephanie C. Chomentowski
  • Partner in the Philadelphia office of Blank Rome LLP
  • Focuses litigation practice on complex commercial litigation, white collar criminal defense, and business and intellectual property disputes
  • Represented corporations and individuals in criminal investigations and prosecutions, and is experienced with all aspects of state and federal civil litigation, including discovery, negotiating settlements, trial, and appeals
  • Selected as one of Pennsylvania’s “Rising Stars” in 2010, 2011, and 2013 through 2016
  • Author for Tax Controversy Watch, which regularly publishes on criminal tax investigations, civil audits, Tax Court and district court litigation, and other legal developments, such as foreign bank account reporting obligations and the Foreign Account Tax Compliance Act
  • J.D. degree, Temple University Beasley School of Law; B.S. degree, civil engineering, Pennsylvania State University
Matthew D. Lee
  • Partner in the Philadelphia office of Fox Rothschild LLP
  • Former U.S. Department of Justice trial attorney
  • Practice emphasizes all aspects of white collar criminal defense and federal tax controversies
  • Advises clients on FATCA and FBAR reporting requirements and IRS voluntary disclosure programs
  • Counsels foreign banks on FATCA compliance issues
  • Author of The Foreign Account Tax Compliance Act Answer Book 2015 (Practising Law Institute)
  • Frequent speaker and writer on issues relating to the IRS voluntary disclosure programs, DOJ/IRS enforcement efforts regarding undeclared foreign bank accounts, and FBAR and FATCA rules and regulations
  • Member of the Pennsylvania, New York, New Jersey and District of Columbia Bars
  • J.D. degree, Emory University School of Law; B.A. degree, Furman University


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
Order:Qty:
Share This: Share on Facebook


Share on Twitter


Share on Google+


Overdraft Protection Programs
Overdraft Protection Programs

Achieving Unclaimed Property Compliance Best Practices For The Banking Industry
Achieving Unclaimed Property Compliance Best Practices For The Banking Industry

What To Do When A Customer Dies
What To Do When A Customer Dies

Regulation E Final Changes on Prepaid Cards
Regulation E Final Changes on Prepaid Cards

Uniform Commercial Code Rules: How to Comply to Attach and Perfect Secured Transactions
Uniform Commercial Code Rules: How to Comply to Attach and Perfect Secured Transactions

Legal Liabilities When Check Fraud Occurs
Legal Liabilities When Check Fraud Occurs

Call Report: Lending Schedules For Banks
Call Report: Lending Schedules For Banks

Certified Regulatory Vendor Program Manager
Certified Regulatory Vendor Program Manager

TRID Checkup: Areas of Concern and Uncertainty
TRID Checkup: Areas of Concern and Uncertainty

Calculating Cash Flow
Calculating Cash Flow

Underwriting Construction Loans
Underwriting Construction Loans

Critical Issues on Certificates of Deposit (CDs)
Critical Issues on Certificates of Deposit (CDs)

Bank and Financial Institution Fraud
Bank and Financial Institution Fraud

Loan Processing 101: The Basics
Loan Processing 101: The Basics

Loan Documentation: Top 10 Mistakes and How to Avoid Them

Loan Officer Boot Camp
Loan Officer Boot Camp

FacebookBankTrainingCenter.com. 5755 North Point Parkway, Suite 228 | Alpharetta, GA 30022 | 770-410-9375 | support@BankTrainingCenter.com
Copyright BankTrainingCenter.com 2017 | Web Site Development by OTAU
Facebook