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Siron® TCR is a comprehensive, highly flexible solution that simplifies tax compliance. The identification process classifies customer and account data by CRS/FATCA relevance. The system guarantees that the classification of a natural or legal person is continuously reviewed and that CRS/FATCA related changes are identified. Defined workflows remind customer advisors to complete necessary tasks, which clarify the CRS or FATCA status. Siron® TCR disposes of integrated document tracking in order to monitor deadlines and the validity of the documents. The CRS & FATCA software also ensures secure electronic reporting to tax authorities.
High automation and built-in workflow significantly reduces operational workload and time-intensive complex CRS & FATCA compliance requirements.
Fulfills identification, classification and reporting obligations – be it FATCA or CRS – with one single solution.
Maximum investment security provided due to adjustable, flexible and scalable technology that can handle a large variety of reports and recipients.
Siron® TCR has been designed to efficiently manage global tax compliance duties for classification and reporting from a single interface. The CRS & FATCA solution can easily be integrated into any existing system environments and onboarding processes. Siron® TCR offers standardized interfaces to third-party databases for automated integration of beneficial owners for legal entities with the CRS/FATCA checking process.
Retrieval of relevant customer information from various data sources.
Integration with existing customer onboarding processes and systems (e.g. Siron® KYC).
Customer-base check through a standardized, yet flexible, interface.
Compliance with the statutory regulations (CRS, FATCA) for classification of new and existing customers.
Integration of check rules for CRS/FATCA scenarios and a flexible editor to adjust and extend these rules.
Workflows for CRS/FATCA cases.
Audit-proof process for logging and document storage.
Automatic continuous customer monitoring and reporting of CRS/FATCA related changes.
Ability to report to supervisory authorities in addition to customer reporting.
The Foreign Account Tax Compliance Act (FATCA) requires foreign financial institutions to report U.S. account holders with foreign assets, and comply with the Intergovernmental Agreements (IGA) or register with the U.S. tax authority (IRS)...
FATCA + CRS = Twice the work?
Adding CRS reporting alongside what you’re already doing for FATCA might seem like another mountain of work.The problem isn’t just getting to the top of two mountains of work. It’s also moving over shifting...
The new global information-exchange standard for financial accounts has been prepared in close collaboration with the G20 states and the EU. The Automatic Exchange of Information (AEOI) between tax authorities shall enter into force in 201...
In collaboration with the G20 states, the OECD has prepared a new global standard for the international exchange of financial data. As of 2017, cross-border tax evasion will be further restricted through automatic exchange of information b...