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FATCA Reporting and Beyond: The Funds Perspective

March 12, 2015

FATCA Reporting and Beyond: The Funds Perspective


Government and industry leaders will discuss compliance and practical issues to help you to fulfill your FATCA obligations on schedule.

Key Discussion Topics:

  • CRA Guidance: Gwen Mah is responsible for updating the CRA Guidance. She will review the mutual funds chapter of the Guidance (Chapter 5) and discuss nominee and client name reporting responsibilities, what CRA compliance will look like, and how non-compliance will be addressed.
  • Chapter XVIII Reporting Issues: Louise Deslauriers created the CRA XML reporting schema and is responsible for sending the reporting information to the IRS. She will explain the reporting procedures, how to avoid rejected files, methods for amending the reporting, and notification deadlines for removing previously reported accounts so that the CRA does not send them to the IRS.
  • OECD CRS Update: Blair Hammonds is the government’s representative to the OECD working group on the Common Reporting Standard (CRS). He will provide an overview of the CRS, its impact on Canadian financial institutions, critical timelines, and the key differences between FATCA and the CRS.
  • Entity Due Diligence and Reporting Responsibilities: Jill Nicolson of EY and Joanne Taylor of Fidelity will highlight practical challenges faced by financial institutions in the asset management sector in implementing documentation and due diligence standards for entity accounts, and information reporting requirements.
  • FundSERV Dealer/Manager Agreements: Blair Munn of IFDS will outline how the various FATCA agreements between dealers and managers will operate, key process flows and deadlines, logistics that are being developed for the pre-existing account review process, and determinations of SEG fund statuses.


  • Members: $399
  • Non-members: $549

Note: This event is closed to the media. Statements made during sessions and presentations, or in conversations with presenters, may not be quoted or attributed.