CTI offers outsourcing for document due diligence reviews, withholding, year-end tax reporting, and intermediary processing, allowing our clients to focus on their core strengths while they entrust CTI with their compliance needs.
CTI can also manage the entire intermediary processing function including: collecting documents, managing nested accounts, calculating the appropriate rate of withholding and/or creating the appropriate blended withholding rate, generating information return reports and E-files for the IRS.
CTI is pleased to announce the expansion of its outsourcing services into a full service FATCA Service Bureau (“FSB”) designed to help Foreign Financial Institutions (“FFIs”) meet their FATCA requirements. CTI’s FSB will use CTI’s proprietary solutions to manage the process from beginning to end while documenting the process for audit readiness and management reporting. FSB clients benefit from the best of both worlds: the use of the most sophisticated tax technology tools by experienced personnel as well as substantial cost savings when CTI hosts and manages the tools saving the cost of both installation and time.
FATCA requires participating FFIs to:
FSB relieves the compliance burdens of FFIs by managing the entire process from assisting in the FFI registration process to obtaining and validating client documentation to e-filing Forms 1099 and 1042-S with the IRS.