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Use this solution to automatically document and submit all required reports for the withholding tax concerning asset income.
The Qualified Intermediary regime (more precisely, reporting under Chapter 3 and Chapter 4 Internal Revenue Code) was introduced by the US tax authority in 2001 and required the tax retention as well as reporting for payments from US-American securities up to the reporting year 2016. As of reporting year 2017, derivatives with US-American underlying instruments are also covered by the QI regime. Almost all financial intermediaries worldwide who trade with US American securities and act as custodian are affected by this obligation.
i:Reg offers the possibility to automatically create the reports necessary (from the group 1099, 945 (for US citizens) as well as 1042-S and 1042 (for non-US citizens)) as well as individual and pool reports. Moreover, the creation of paper reports and FIRE files is supported according to the standards of IRS. Of course these reports are always consistent between Chapter 3 (FATCA) and Chapter 4 (QI) upon the simultaneous creation of FATCA reporting files via i:Reg.
11th Financial Centre Meeting of WM Datenservice We are looking forward to participating as exhibitor in the 11th Financial Centre Meeting of WM Datenservice in Frankfurt am Main on 7-8 March 2018. The ";Financial Centre Meeting" offers every year a meeting opportunity for employees of banks and bank-related companies (e.g. from the IT industry) and facilitates exchange with experts from economy and politics. In addition, visitors can get state-of- the-art information on new products and services relating to the financial industry. On 8 March, Dr. Wolfgang Göb (Head of Business Development, SDS) will give a talk about "New technologies in the securities business: how standard software enables digitisation".Eventinfo