FATCA/CRS - Focus on private banking

This e-learning is intended for employees within a bank acting as relationship managers or working in the client onboarding or compliance departments; employees seeking to gain or deepen their FATCA and CRS knowledge and to stay informed about regulatory best practices.

Technical requirements:

• A personal computer (recommended), tablet or smartphone
• An up-to-date internet browser (Google Chrome recommended)
  • Cookies should be enabled
  • JavaScript should be enabled
• A stable internet connection

Should the internet connection be lost during an e-learning session, the browser will need to be restarted when internet is back to resume the e-learning at the last step recorded by the learning management system before the connection went out.

The Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) constitute key tax transparency regulations that came into force in 2014 and 2016, respectively. Both regulations have been transposed into the Luxembourg laws and have been amended by the law of 18 June 2020 known as "the FATCA and CRS governance law".

This AI-supported learning experience encompasses essential FATCA and CRS key principles, the criteria for the classification of entities, an overview of the new client onboarding process and the reporting requirements. This information, exemplified through applied case studies and examples, helps learners mitigate the challenges faced by financial institutions (FIs).

By the end of this e-learning, participants will be able to:

• explain the purpose and the mechanism of the FATCA and CRS regulations and their general impacts (incl. the FATCA and CRS governance requirements);
• be able to classify entities based on their legal definitions and explain the procedures for identifying controlling persons of entities;
• understand the onboarding process for new clients, including documentation needed depending on the classification;
• list main elements to be reported and the associated timeline;
• explain the impact data protection regulations have on reporting.

• Introduction to FATCA and CRS
• Classification of entities
• Onboarding process for new clients
• Reporting
• Data protection considerations

We deploy our e-learning solution as from 10 licences.

The price per licence varies with quantity purchased:

From 10 to 50 licences: EUR 75 each;
From 51 to 150 licences: EUR 70 each;
From 151 to 300 licences: EUR 60 each;
From 301 licences: EUR 50 each.

This digital learning has been designed with the support and collaboration of Pierre Kirsch and Camille Perez, Partners at PwC Luxembourg.

• Pierre Kirsch is a partner in the Luxembourg financial services tax practice with over 29 years of experience serving clients in banking, insurance, and asset management. He leads a team specialising in tax compliance analysis for onboarding banking clients and investors into complex alternative fund structures. Pierre and his team advise financial sector actors in Luxembourg and internationally, helping clients review onboarding and tax reporting processes, implement controls, and define organisational roles. He contributed to establishing PwC Regulated Solutions S.à r.l., managing daily operations, and supports PwC’s financial services clients with consulting and reporting on operational taxes including FATCA, CRS, QI, and CbCR.
• Camille Perez is a partner in the Financial Services Tax department with over 15 years of experience in tax consulting and compliance for banking, asset management, and private equity clients in France and Luxembourg. He is a core member of PwC Luxembourg’s tax transparency expert team, specialising in directives such as DAC1 to 7, AML tax, FATCA, and QI, with expertise developed since 2011. Camille regularly leads tax transparency workshops and advises financial industry clients on EU/US tax compliance. He also co-chairs the ALFI working group on CRS and has managed numerous reporting and audit projects for major financial clients.