FCS – FATCA & CRS Specialist
Learn all about foreign tax laws (FATCA and CRS), how to implement their standards in your institution, complete necessary reporting.
Our study guide for this certificate discusses various types of agreements covered by FATCA, the consequences of noncompliance, and the forms and procedures needed to bring pre-existing and new accounts into compliance. It also provides details and important tips for the reporting stage, discusses the variance between CRS and FATCA, and much more.
Understanding FATCA
- What is FATCA Exactly?
- Purpose of the FATCA regime
- The Scope of the Act
- Non-Compliance Consequences
- Types of FATCA Agreements
- Understand your responsibilities
- FATCA Governance Framework
Understanding CRS
- CRS Background
- Analyze the CRS requirements and the difference between it and FATCA
FATCA and CRS In Practice
- How to Start?
- Who is Subject and who is not?
- Build your database structure
- The 4 Projects (Preexisting)
- New Customers
- Tax Evasion Practices (Be Aware)
- How to deal with special Cases (Minor Accounts,Joint Account, POA, etc.)s
- Recalcitrants and what to do
- Withholdable payments
Documentation
- How to be smart in collecting data (Don’t Panic)?
- How to review Customer self-certification (IRS FATCA forms)
- How to verify (Avoid Report Rejection)
- How to Detect and What to Change
Reporting
- Whos is subject to reporting and who is not?
- Types of Reports
- Timeline and Thresholds
- What to report (IRS XML Schema)
- Special Cases and how to report)
And Much More
FATCA Responsible Officers, and Customers relations, in the following industries:
- Banking Industry
- Insurance and reinsurance Companies
- Brokerage agencies
- Other Depository Institutions
Workers in the supervisory authorities, e.g.:
- Central Banks
- Tax and Treasury Department
- Financial Sector Regulatory Authorities
- Financial Intelligence Units (FIUs)
- Related Ministries and governmental bodies
Workers in the (IT solution firms) who provide FATCA & CRS solutions
Tax Consultants & Lawyers
- Exam Duration: 60 Minutes
- # of Questions: 50
- Type of Question: Multiple Choice
- Pass Mark: 75/100
The result appears directly, once you submit your answers
The certificate will be issued instantly, and sent to your email address You can ask GCI to send it to your employer, through your membership area at any time.
Candidates have two options, when taking the exam:
Option 1: Self-Study. Take the online proctored exam at home
GCI’s examination process is set to the highest standards, allowing the candidate to easily register and receive their certificate Study Guide (e-book) in their selected language.
Once the candidate feels ready, they can schedule the exam according to their availability.
Then, GCI will provide the candidate with a token allowing them to access the exam at the scheduled date and time.
Option 2: Get the help of an accredited Training and Testing Centre
Candidates can choose the nearest GCI test centre through our website and visit it to receive help, whether by attending a class training program, taking the assessment at their facility, or both.
- English
- Arabic
- Turkish
- French
- Chinese Simplified (2022)
- Spanish (2022)
- (One Year’s Membership included)$499.00