In the past 10 years, governments around the world have been cracking down on tax evasion by locating lost revenue through unreported foreign assets of their residents or citizens. In addition to anti-money laundering laws that require the financial institutions to know their customers and the source of their funds, financial institutions must also know their customers' tax residency and classification in order to annually report the financial and static account data to their local tax authorities (or treat them as non-reportable). Creating confusion amongst customers, these financial institutions require lots of different forms, all with different tax jargon.
If you have individual clients living abroad or business clients looking to expand their operations overseas, they will likely call upon you to help them fill out these financial forms when opening a cash account, custodial account, equity investment, and more.
This course is an introduction to the field of tax transparency from the lens of the customer (your client).
Jessalyn launched Dune Consultants in 2021 offering consulting in global tax information and withholding issues including FATCA, CRS, Forms W-9/W-8, Forms 1099/1042-S withholding & reporting, Qualified Intermediary, DAC7, DAC8, and more tax transparency topics. She assists financial institutions and gig platforms with account holder/payee due diligence and remediation, written policy/procedure development, process improvements/automation, documentation enhancements, global training development/delivery, and annual reporting compliance. Her experience covers banking, asset management, custodians, other financial services, tech companies, and more while she was a Senior Manager with PwC in the United States, Ireland, and the Netherlands. In addition, she previously managed in-house global tax information reporting, withholding, FATCA, and CRS compliance for OppenheimerFunds in the United States (now part of Invesco). Jessalyn currently lives in Amsterdam, The Netherlands with her two cats and her 1986 Honda 500CX motorcycle.