At UNCCN Research And Innovation, we understand that navigating the complexities of international taxation and financial regulations can be daunting, particularly when it comes to the Foreign Account Tax Compliance Act (FATCA). As a U.S. taxpayer, or as an international financial institution, staying compliant with FATCA is crucial to avoid significant penalties and legal issues.
Our FATCA compliance services are designed to help you meet your reporting obligations, manage risks, and ensure that your financial operations remain in line with the law. Whether you’re an individual with foreign accounts or a financial institution handling clients’ assets, we provide expert solutions tailored to your needs.
What is FATCA?
The Foreign Account Tax Compliance Act (FATCA) is a U.S. tax law that was enacted in 2010 to combat tax evasion by U.S. citizens and residents who hold financial assets outside the United States. FATCA requires U.S. taxpayers to report certain foreign financial accounts and assets to the Internal Revenue Service (IRS). Additionally, it mandates that foreign financial institutions (FFIs) report information about accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold a substantial ownership interest.
FATCA aims to reduce tax evasion by requiring U.S. citizens, residents, and businesses to disclose their offshore assets, and by compelling foreign financial institutions to report U.S. account holders’ financial information directly to the IRS.

Our FATCA Compliance Services
We offer comprehensive FATCA compliance services, designed to meet the needs of both individuals and financial institutions:
FATCA Compliance Consulting
Our experts will help you understand the complexities of FATCA and provide actionable advice on how to comply with the reporting requirements. We guide you through the steps necessary to stay compliant, minimizing risks and ensuring a smooth process.Form Preparation & Filing
We assist individuals with the preparation and timely filing of IRS Form 8938 and FinCEN Form 114 (FBAR). For financial institutions, we provide assistance with FATCA reporting forms, including the FATCA Report (Form 8966), to ensure that all relevant information is accurately reported to the IRS.Due Diligence Assistance
For foreign financial institutions, we help implement the necessary due diligence procedures to identify U.S. account holders or entities with substantial U.S. ownership. This includes assistance with onboarding clients, account reviews, and ongoing monitoring for FATCA compliance.Withholding Tax Assistance
Our team helps financial institutions navigate the complexities of FATCA’s withholding tax requirements. We ensure that U.S. withholding taxes are properly applied to relevant payments and help you understand your obligations to avoid costly penalties.FATCA Reporting System Setup
If you’re a financial institution, we assist in setting up systems and processes to meet FATCA’s reporting and due diligence requirements. We help you integrate FATCA compliance into your existing systems to streamline processes and reduce manual effort.Training & Education
We offer training for both individuals and financial institutions to stay updated on FATCA regulations and reporting requirements. Our workshops and online resources provide you with the knowledge to understand FATCA’s impact on your financial activities and obligations.
FATCA Compliance for Individuals

If you’re a U.S. citizen or resident with foreign financial accounts, you must comply with FATCA’s reporting requirements, including:
FATCA Reporting Forms: You are required to file IRS Form 8938 (Statement of Specified Foreign Financial Assets) with your annual tax return if your foreign assets exceed certain thresholds.
FBAR Reporting: In addition to Form 8938, U.S. taxpayers must also file FinCEN Form 114 (Foreign Bank and Financial Accounts Report, or FBAR) if the aggregate value of foreign financial accounts exceeds $10,000 at any time during the calendar year.
Our team of tax professionals helps you ensure accurate and timely submission of both FATCA and FBAR forms, reducing the risk of penalties and ensuring full compliance.
FATCA Compliance for Financial Institutions
For foreign financial institutions, FATCA compliance involves a series of obligations, including:
Due Diligence & Reporting: FFIs must perform due diligence on accounts to determine whether account holders are U.S. persons or entities with substantial U.S. ownership. If a U.S. person holds an account, the institution must report specific details about the account to the IRS.
Reporting to the IRS: FFIs must annually submit reports detailing accounts held by U.S. taxpayers or foreign entities with substantial U.S. ownership (typically greater than 10%). Non-compliance can lead to a 30% withholding tax on certain U.S.-source payments.
Withholding Tax Obligations: Financial institutions must ensure that U.S. withholding tax is applied to certain U.S.-source payments made to non-compliant foreign financial institutions or individuals.
Our FATCA services for financial institutions include assisting with due diligence processes, setting up compliance systems, and submitting reports to the IRS in accordance with the FATCA regulations. We help you mitigate the risk of withholding penalties and ensure adherence to the global FATCA framework.

Our FATCA Compliance Services
We offer comprehensive FATCA compliance services, designed to meet the needs of both individuals and financial institutions:
FATCA Compliance Consulting
Our experts will help you understand the complexities of FATCA and provide actionable advice on how to comply with the reporting requirements. We guide you through the steps necessary to stay compliant, minimizing risks and ensuring a smooth process.Form Preparation & Filing
We assist individuals with the preparation and timely filing of IRS Form 8938 and FinCEN Form 114 (FBAR). For financial institutions, we provide assistance with FATCA reporting forms, including the FATCA Report (Form 8966), to ensure that all relevant information is accurately reported to the IRS.Due Diligence Assistance
For foreign financial institutions, we help implement the necessary due diligence procedures to identify U.S. account holders or entities with substantial U.S. ownership. This includes assistance with onboarding clients, account reviews, and ongoing monitoring for FATCA compliance.Withholding Tax Assistance
Our team helps financial institutions navigate the complexities of FATCA’s withholding tax requirements. We ensure that U.S. withholding taxes are properly applied to relevant payments and help you understand your obligations to avoid costly penalties.FATCA Reporting System Setup
If you’re a financial institution, we assist in setting up systems and processes to meet FATCA’s reporting and due diligence requirements. We help you integrate FATCA compliance into your existing systems to streamline processes and reduce manual effort.Training & Education
We offer training for both individuals and financial institutions to stay updated on FATCA regulations and reporting requirements. Our workshops and online resources provide you with the knowledge to understand FATCA’s impact on your financial activities and obligations.