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THOMSON REUTERS LAUNCHES NEW SOLUTION TO HELP FINANCIAL INSTITUTIONS PREPARE FOR FOREIGN ACCOUNT TAX COMPLIANCE ACT

Solutions tags and monitors grandfathered securities ahead of new regulation

Thomson Reuters announced the launch of a new solution to help financial institutions, including custodian banks, better prepare for the Foreign Account Tax Compliance Act (FATCA).   The Thomson Reuters FATCA Grandfathered Obligations (GO) solution will identify and tag securities of US sourced dividends, interest and other fixed or determinable annual/ periodic income (FDAP income) and those that are exempt (Grandfathered) from FATCA withholding as of January 1, 2014, the date that the new regulation takes effect.

The launch of Thomson Reuters FATCA GO solution supports Thomson Reuters vision to connect and enable the global financial community and builds on the growing portfolio of solutions that Thomson Reuters provides to assist firms in taking a multi-disciplinary approach to FATCA.

Source:  Thomson Reuters

http://thomsonreuters.com/content/press_room/financial/tr_launches_solution_toh_help_financial_institutions_prepare_for_foreign_account_tax_compliance_act

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