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FATCA Software

Software for Foreign Account Tax Compliance Act reporting.

Are you FATCA compliant?

You need to be FATCA compliant. That means you must identify and report all US citizens and entities on your financial systems to the CRA. With Portfolio Plus FATCA, you can identify, review, and classify all of your US citizens and entities, determine income made on those accounts, and electronically submit your FATCA report to the CRA.

Identify US-citizens and entities.

FATCA compliance begins with identification. So how do you identify US citizens? With thousands of accounts on your system, identifying clients with US indicia is an enormous task.

Portfolio Plus FATCA automatically scans your client data for US addresses, area codes, birth locations, country of citizenship, IDs with US issuing locations, and other US indicia that will help you identify US citizens and US entities.

Image of US citizen.

Capture FATCA-related assets and income.

Identifying US citizens and entities is one thing. But you also need to identify and report how much income was made on their accounts.

Portfolio Plus FATCA scans each identified client and generates a list of reportable financial assets. By gathering information on investments, instrument types, and transactions, Portfolio Plus FATCA will help you determine a total income for each citizen and an aggregate balance that you can report to the CRA.

Electronically submit your FATCA Reports.

You need a simple way to report your findings. That report needs to include identified US citizens and entities, their reportable financial assets, and the income earned on those assets.

Portfolio Plus FATCA generates an evaluation report for each of your identified clients, capturing everything you need to be FATCA compliant. And you can submit the your entire Part XVIII Information Return electronically to the CRA.

Questions?   We have answers.

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Monitoring & Reporting

This page was created or refreshed on October 15, 2018 @ 12:07:20
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
You're here to learn about: FATCA Software