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Tax Compliance

Tax Compliance

Fenergo Tax Compliance streamlines the regulatory, data and onboarding processes for tax compliance obligations including FATCA, CRS, 871M, CDOT (UK) & Chapters 3 and 61 (US).

Fenergo Tax Compliance helps financial institutions to effectively manage their tax compliance obligations, enabling them to comply with a range of local and global tax-specific regulations such as the Foreign Account Tax Compliance Act (FATCA), Common Reporting Standards (CRS), CDOT (UK) and Chapters 3 and 61 (US).

This robust solution automates and supports the collection, validation, processing, maintenance and storage of all tax-based documentation and forms to support compliance with tax rules and regulations.

It also manages a complex web of identifiers, data and documentation pertaining to all legal entities, hierarchies and relationships that include ultimate beneficial ownership (UBO) identification and management.

With the ability to operate as a standalone solution or integrate fully with CTI’s MD3 module for form validation,Fenergo’s Tax Compliance platform: 

  1. enables the pre-population of data elements, eliminating the need to manually rekey information
  2. retrieves and stores form validation results, including FATCA classification, and takes real-time action (depending on the validation results from CTI MD3)
  3. retrieves withholding attributes and calculates the corresponding withholding rate based on the ADP TEFRA (Tax Equity and Fiscal Responsibility Act) code.

Built upon an advanced Regulatory Rules Engine and Workflow platform, Fenergo Tax Compliance can infer and request all supporting tax documentation required upfront (such as W9 or W8-BEN) based upon specific client data (such as type of entity, ownership structure, country of domicile or incorporation etc.).

Future-proofed through its advanced configuration suite, Fenergo Tax Onboarding is capable of incorporating additional tax rules, attributes, documentation and statuses to accommodate future tax requirements and regulatory updates.

Useful resources

CRS - Implementing Best Practice Global Tax Compliance

How to leverage the similarities between FATCA and CRS to implement an efficient global tax compliance process.

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Common Reporting Standard (CRS) Compliance

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Case StudiesDownload

Optimizing KYC Client Reviews For Efficiency & Control

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