FATCA/CRS, governance and oversight: how to be prepared to tax authorities controls?

How long does the training course last?

2,00 hours(s)

In which language(s) is the training course taught?

DE EN FR

When will the next session take place?

Who is organising this training course?

PwC Academy leverages PwC’s expertise to deliver world-class learning experiences to organizations across all industries and regions. Our objective is to help professionals develop their knowledge, skills, competencies, and expertise, enabling them to support and drive the growth of their organizations.

Who is the training course aimed at?

This training is designed for all lines of defence of the financial industry from board members to compliance officers and members of KYC units.

What are the aims or the skills being targeted?

Since January 2021, all Luxembourg Financial Institutions ("FIs") must establish a FATCA/CRS compliance programme, encompassing various requirements such as IT infrastructure, written policies and procedures, and oversight in case of delegated functions. A second crucial pillar of this compliance programme requires FIs to implement proportionate and effective controls to ensure compliance with FATCA and CRS due diligence and reporting obligations.

This training encompasses all essential FATCA and CRS key principles, illustrated with concrete examples, along with best-market practices to establish an efficient FATCA/CRS operating model and mitigate challenges faced by financial institutions (FIs).

Additionally, the training offers insights into recent regulatory updates (if any) and outlines the controls and inquiries conducted by the Luxembourg tax authorities.

By the end of this training, participants will be able to:

determine which procedures should be put in place or amended;
upgrade their client/investor onboarding process;
assess whether they receive sufficient information and comfort from their service providers.

What does the training course cover?

Best practices in terms of procedures
Areas of risk
Common mistakes in client due diligence and reporting
Documentation of the implemented controls
Oversight - what are the key points to control in case of delegation

What other information is useful to know?

This training will be coordinated by Pierre Kirsch, Partner at PwC Luxembourg.

Pierre Kirsch is a partner in the Luxembourg financial services tax practice with over 30 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.