Trans-World Compliance Solutions, Inc.

The GRC Solutions CompanyCompliance simplified.

Trans World Compliance Inc., (TWC) provides software solutions to simplify the compliance and regulatory requirements for US, Foreign Financial Institutions, tax regulatory bodies and governments.

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Trans World Compliance, Inc. solutions for Tax Authorities includes: FATCA One for Tax Authorities™ and Country by Country Reporter™. These systems helps IRS Model 1 FATCA countries and OECD/G20 Common Reporting Standard (CRS) countries to securely collect, analyze, and disseminate the information to comply with international Automatic Exchange of Information (AEOI) agreements. (Click here to learn about Country by Country Reporter™.)

For Financial Institutions, they can upload data manually, via spreadsheet, or via XML. The data is checked for any deficiencies and any records with missing data are weeded out before they are sent to you for review. Financial Institutions can send data over as often as they like, and can get immediate feedback if their data was accepted, and if not why not. For Tax Authorities, we have made the process very simple.

The FATCA One for Tax Authorities™ Process:

Financial Institutions / Tax Authorities

FI Registers
TA approves and activates

Financial Institutions

Load the data into FATCA One for TAs via Spreadsheets or Manual Entry
Review the data to be submitted
Submit the data to the TA for review

Tax Authorities

Reviews submissions
Submits data to the IRS
Checks submission results

Financial Institutions

Checks and updates submissions

The FATCA One for Tax Authorities™ Benefits:

FIs to submit data in easy spreadsheet format or manual entry
FATCA One converts to validated US XML / UK XML / CRS XML to reduce errors
XML is sent real-time
IRS accepts/rejects each FI submission
Immediate automated feedback to the TA and FIs
FIs can resubmit their own resubmissions
Maintains data provides audit trails and makes available all submitted data for the required six year retention period.
Allows submission of Test and Production data records.

Download the white paper: FATCA One for Tax Authorities Country-by-Country Reporter

About Trans-World

Trans-World Compliance Inc., (“TWC”) provides cloud based software solutions to simplify the compliance and regulatory requirements for US, Foreign Financial Institutions, tax regulatory bodies and governments.

TWC saves time, lowers overheads and improves accuracy for compliance with international regulatory tax regulations and mandates by centralizing data, raising flags, tracking remediation, automated reporting, and providing an independent 3rd party audit of policies and procedures.

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Contact TWC
Contact TWC to see our FATCA solutions can assist you and your team in your compliance needs.
Resources
Check out our resource library including white papers on FATCA and data sheets on TWC solutions.

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Trans-World Compliance, Inc.
1829 Greenplace Terrace
Rockville, MD 20850 USA
301-825-5137
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@TransWorldCompliance

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