Online training

FATCA Essentials

This FATCA Essentials course covers the fundamentals of the US Foreign Account Tax Compliance Act (FATCA). It is intended for employees of all financial institutions and other entities that make or receive payments of income arising from a source within the U.S.

Geography Covered: Global | Duration: 25 minutes


The Foreign Account Tax Compliance Act (FATCA) is a U.S. law intended to combat tax evasion by U.S. taxpayers who hold investments in offshore accounts. Congress enacted FATCA in 2010 to address the fact that the U.S. Treasury loses an estimated $100 billion each year to international tax-dodging schemes.

Under FATCA, U.S. taxpayers holding financial assets outside the U.S. must report those assets to the U.S. Internal Revenue Service (IRS), and foreign financial institutions (FFIs) must provide the IRS information about financial accounts held by U.S. taxpayers. FATCA imposes a substantial withholding tax on U.S. taxpayers and FFIs that fail to disclose the required information, making FATCA training that much more crucial.

The topics covered in the course include:

  • Overview of FATCA
  • Entities Impacted by FATCA
  • Foreign Financial Institutions and Non-Foreign Financial Entities
  • FATCA Compliance by U.S. Taxpayers
  • FATCA Compliance by Foreign Financial Institutions
  • Model 1 Intergovernmental Agreements
  • Model 2 Intergovernmental Agreements
  • FFI Agreements
  • U.S. Accounts
  • Reporting by Foreign Financial Institutions
  • Compliance Challenges
  • Like with all our courses, the FATCA training courses are written by experts and powered by world-leading regulatory intelligence, which tracks more than 900 regulators and exchanges globally to ensure the course content is always up to date.

    All our training courses are driven by practical examples and interactive scenarios to ensure users truly understand and recognize the issues of most importance to your business and learn to instinctively act to support them.

    We employ instructional design techniques optimized for risk and compliance training, enabling your business to educate in a way that reduces risk and helps you build a culture of integrity and compliance.

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