The ALBT International Tax Compliance Group is a dedicated, specialist team of attorneys, accountants and compliance experts devoted to serving investment structures in complying with their obligations under FATCA, CRS and other international tax compliance initiatives.
fund of hedge funds

FUND OF HEDGE FUNDS

ALBT Investor Services is a trusted partner to many of the world’s leading fund of hedge fund (“FoHF”) managers. We work closely with clients to devise and implement tailored

private equity

PRIVATE EQUITY

ALBT Investor Services has the scale, scope, and flexibility to support a wide array of private equity and real estate funds. We have designed our client service teams.

registered funds

REGISTERED FUNDS

As part of one of the world’s largest banks, we draw on our global resources to keep pace with the ever-changing regulatory requirements of the industry.

direct lending

DIRECT LENDING

Our loans ecosystem was designed to ensure the quality and accuracy of reflecting this complex asset class. ALBT Investor Services' direct lending operating model

INTERNATIONAL TAX COMPLIANCE – WHAT IS FATCA AND CRS?

Several international tax transparency regimes have been developed in recent years with the goal to implement an automatic exchange of financial information in tax matters in order to increase tax transparency, prevent offshore tax evasion and maintain the integrity of global tax systems.


The United States started with the US Foreign Account Tax Compliance Act (US FATCA) which is an initiative to identify US persons that have failed to declare offshore investments who hold offshore accounts through foreign entities. Over 100 jurisdictions have now entered into intergovernmental agreements (IGA) with the US to simplify FATCA reporting, compliance, and to avoid withholding.


Similar to US FATCA, the United Kingdom implemented UK FATCA (or sometimes referred to as CD/OT) which requires entities in the UK Crown Dependencies and Overseas Territories to report detailed information about their UK tax resident investors.


The Commons Reporting Standard is an internationally agreed standard for the automatic exchange of information on financial account information, developed by the OECD and the Global Forum for Transparency and Exchange of Information for Tax Purposes. More than 100 jurisdictions have committed to implement the CRS and start with the automatic exchange of information in either 2017 or 2018.


All three reporting regimes require entities in participating jurisdictions to determine their classification for FATCA/CRS, implement the required policies and procedures with respect to due diligence, registration/notification and reporting obligations. Due to the fact that participating jurisdictions have implemented the regimes into local legislation, an entity in a participating jurisdiction has to comply with local law irrespective of where assets or investors are located.

ALBT TAX COMPLIANCE & REPORTING SERVICES

International tax compliance is now essential to effective fund governance. The ALBT International Tax Compliance Group provides customized solutions designed to efficiently meet the FATCA/CRS obligations and responsibilities of our clients. We provide a full suite of FATCA/CRS services designed to effectively manage any material risks and achieve tax compliance in your jurisdiction:

SERVICES OFFERED
  • Entity classification of your separate legal entities and structures to determine the ITC Obligations and analyzing the availability of reporting exemptions.
  • Registering and obtaining Global Intermediary Identification Number (“GIIN”) from the IRS and completing any other registration or notification with local authorities.
  • Reviewing governing documents and subscription documents to determine the adequacy of disclosures provisions.
  • Preparing and reviewing IRS Forms and Self-Certifications.
  • Preparing and reviewing the policies and procedures as set forth in the Regulations.
  • Acting as Principal Point of Contact/AEOI Delegate/ Responsible Officer to oversee and ensure compliance with all aspects of the regulations in the respective jurisdiction.
  • Reviewing and approving third party investor classification, including relevant agreements with these third parties.
  • Classification and remediation of your investor base.
  • Preparing and filing the reports in the respective jurisdictions.
  • Consulting on technical and operational aspects of these international tax information regulations.
  • Conducting regular FATCA/CRS compliance review.
Our team is experienced in international tax compliance matters, having undertaken hundreds of FATCA engagements for a wide range of funds, covering multiple jurisdictions. The ALBT ITC Group maintains strong relationships with local tax authorities, as we constantly monitor regulatory changes on behalf of our clients.

For further information, please contact your usual ALBT professional, any member of the ALBT ITC Group.
billion in assets under administration (aua)

$348+ BILLION IN ASSETS UNDER ADMINISTRATION (AUA)

We assist clients in new business formation worldwide in many jurisdictions, investments, M&A, debit cards, bank reference letters, and 24/7 online banking.

funds serviced

2798+ FUNDS SERVICED

Allied Bank & Trust not only has a “fortress” balance sheet but also offers sophisticated, multicurrency global Capital Market execution. We provide access to stock markets around the world and global investment services.

committed clients

800+ COMMITTED CLIENTS

Allied Bank & Trust solidifies trust and loyalty with our worldwide clients through secure banking systems, offering a wide range of services and dedicated customer support.

Subscribe to our daily newsletter!

Covid-Loans
Email Us
Careers
Buy NFT's
New Account