FATCA Services

Understanding FATCA

FATCA is a US law aimed at preventing tax evasion by US persons holding financial assets outside the United States. Enacted in 2010, FATCA requires US taxpayers to report their foreign financial accounts and offshore assets. It also mandates foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by US taxpayers or foreign entities in which US taxpayers hold a substantial ownership interest.

 

Our FATCA Compliance Services

Understanding and complying with FATCA is crucial for US citizens living abroad, foreign trusts, and entities with US beneficiaries or owners. Our team at US Tax Services is here to guide you through the complexities of FATCA, ensuring full compliance while optimizing your tax situation.
 

For Individuals and Expatriates

 
Form 8938 Filing

We assist in the preparation and filing of Form 8938, Statement of Specified Foreign Financial Assets, required if you hold certain foreign financial assets exceeding the reporting threshold.

FBAR (FinCEN Form 114) Filing

 Our services include filing the Report of Foreign Bank and Financial Accounts (FBAR), separate from the tax return but equally important for compliance.

 

 

For Trusts and Entities

UNI/DNI Calculations

 We provide Undistributed Net Income (UNI) and Distributable Net Income (DNI) calculations for trusts with obligations under FATCA.

Forms 3520 and 3520-A

 Assistance with reporting transactions with foreign trusts and receipt of certain foreign gifts.

Forms 8621, 5471, and More

Preparation of required forms for entities and individuals involved with Passive Foreign Investment Companies (PFICs), foreign corporations, and other relevant foreign entities.

 

Comprehensive FATCA Compliance

Advisory Services

 Consulting on FATCA’s impact on your financial accounts and investments, including compliance strategies for minimizing potential penalties and optimizing tax positions.

Liaison with Foreign Financial Institutions

 Assistance in communicating with FFIs to ensure proper reporting and to avoid unnecessary withholding under FATCA provisions.

 

Why Choose USTS?

  • Expertise in Expatriate Taxation: Our specialized knowledge of US and international tax laws, including FATCA, positions us to offer unmatched advisory and compliance services.

  • Tailored Solutions: We understand the unique challenges faced by US expats and foreign entities. Our services are customized to address your specific needs and ensure peace of mind.

  • Global Network: With clients across Switzerland and the world, we have a deep understanding of how FATCA affects US citizens and entities globally.

  • Proactive Approach: We stay ahead of regulatory changes, providing you with the most current and effective compliance strategies.

 

Start Your Journey to FATCA Compliance

FATCA compliance can be daunting, but you don’t have to navigate it alone. US Tax Services is here to ensure that your financial accounts and investments are fully compliant with US tax laws, mitigating risks and optimizing your tax reporting process. Contact us today to learn more about our FATCA compliance services and how we can assist you.

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