FATCA Compliance for Private Equity Funds: Navigating the Clutter

FATCA is scheduled to become effective July 1, 2014, yet considerable uncertainty and confusion remains, including how the law impacts the Private Equity industry. Private Equity firms that have not yet addressed the law’s impact on their operations are scrambling to complete a FATCA compliance program.

Now the good news.  Robert F. Aufenanger, of Broadscope Fund Administrators, has released a white paper that helps private equity funds cut through the clutter.

Will U.S. banks do business with non-compliant foreign funds?

In addition to outlining the requirements, the white paper details the key steps to become FATCA compliant.

1. Appoint a Responsible Officer or Team Leader

2. Determine Foreign Fund Entity Status and Register with the IRS

3. Document the Investor Base

4. Establish Procedures to Withhold from Recalcitrant Investors

5. Implement Reporting Procedures

To download the white paper, visit Broadscope below.

Broadscope Fund Administrators is a boutique-style, full service fund administration firm focused exclusively on the private equity industry.  Broadscope was formed in 2012 by industry experts who founded Palmeri Fund Administrators in 1991, a firm well known for its industry expertise and high quality service through its sale in 2007.