www.pwc.

lu/fatca

Making your FATCA

reporting simple

Discover our full-size

solution

According to the Intergovernmental Agreement on FATCA signed between the

USA and Luxembourg as well as the Luxembourg regulations implementing the
relevant provisions, each Luxembourg Reporting Financial Institution will have
to file a report to the Luxembourg tax authorities prior to 30 June 2015.
This report will include each US reportable account and must be done in
a specific format defined by the circulars issued by the Luxembourg tax
authorities.

Your challenges

Our global solution

As the implementation of a reporting system

within your company could be time consuming
and expensive, especially with regards to the
complexity of the technical aspects defining
the format of the FATCA report, we can assist
you during the entire reporting process by
encoding data, processing them into the
appropriate Luxembourg defined XML format,
and submitting them to the Luxembourg tax
authorities.

We have developed our own reporting solution

in order to offer our clients a complete line of
services including data collection, validation,
reformatting and submission to the tax
authorities.

Therefore, we can provide you with a userfriendly solution addressing all your concerns
and allowing you to fulfil your obligations in a
timely manner.

adjusted to the local legislation

Our solution is in connection with the global

network of PwC, and will allow our clients to file
FATCA specific reports in other jurisdictions that
have signed an IGA with the USA.

We have adjusted our reporting tool according to

the various circulars released by the Luxembourg
tax authorities.

We will act as depositor and will use the official

transmission channel to file the FATCA reporting
to the Administration des Contributions Directes
(ACD) on behalf of our clients.

The client logs in to our

web-based portal

Clients

The client sends its information

through the portal

Clients

Compliance check
PwC

Electronically
mapping
via an Excel
template
Encoding of
non-electronic
documents

Preparation of the XML report

PwC

Once the
information
is collected,
PwC ensures
that the data
is in line with
the ACDs
requirements.

Approval by the client and submission to ACD

Clients & PwC

XML

Proforma version sent

for approval to the
client
Upon approval, the
report is submitted to
the ACD

PwC Luxembourg offers a wide range of FATCA/CRS services

Implementation and Project Management

Regulatory Intelligence and Technical Expertise

A. Implementation

A. Regulatory Intelligence

Perform the regulatory analysis of your entities

Provide assistance in the identification of reportable accounts and
potential data gaps
Define and implement required processes Provide dedicated Workshops
and Trainings through PwCs Academy

Leverage on PwC CITT (Customer and Investor Tax Transparency

Tool)

B. Project Management
Project planning and monitoring; communication and stakeholder mgt.
Preparation and documentation of regular meetings, workshops and
Steering Committees
Definition of implementation roadmap

Reporting Channel

B. Technical Expertise
FATCA/Qualified Intermediary /CRS:
Completion of tax forms
Review of Tax forms received from clients/counterparts.
FATCA/CRS:
Assistance with IRS registration
Leverage on PwC international network tax expertise so as to address
country specifics

Compliance & Reporting Health Check

A. Reporting solution

A. Deep Dive Health Check

Collection of Reporting FI/QI data

Cleansing of Data
Connection with e-file (i.e. Fundsquare)
Preparation of Reporting (the client validates a proforma report and we
submit the reporting to Administrations des Contributions Directes via
e-file)
Electronic Reporting (1042-S) to Internal Revenue Service (IRS)

Define Reporting Test strategy

Roll out Reporting Accuracy and Completeness testing
Review and adjust Controls Framework
B. Yearly Review
Provide Controls Report either based on Agreed-Upon Procedures or
Standard Report (ISAE 3000)

Contacts
Kerstin Thinnes

Pierre Kirsch

Marie Laffont

Partner
+ 352 49 48 48 3177
kerstin.thinnes@lu.pwc.com

Director
+ 352 49 48 48 4031
pierre.kirsch@lu.pwc.com

Director
+ 352 49 48 48 3069
marie.laffont@lu.pwc.com

PwC Luxembourg (www.pwc.lu) is the largest professional services firm in Luxembourg with 2,450 people employed from 55 different countries. It provides audit, tax and advisory services including
management consulting, transaction, financing and regulatory advice to a wide variety of clients from local and middle market entrepreneurs to large multinational companies operating from Luxembourg
and the Greater Region. It helps its clients create the value they are looking for by giving comfort to the capital markets and providing advice through an industry focused approach.
The global PwC network is the largest provider of professional services in audit, tax and advisory. Were a network of independent firms in 157 countries and employ more than 195,000 people. Tell us
what matters to you and find out more by visiting us at www.pwc.com and www.pwc.lu.
2015 PricewaterhouseCoopers, Socit cooprative. All rights reserved. In this document, PwC Luxembourg refers to PricewaterhouseCoopers, Socit cooprative (Luxembourg) which is a member
firm of PricewaterhouseCoopers International Limited (PwC IL), each member firm of which is a separate and independent legal entity. PwC IL cannot be held liable in any way for the acts or omissions
of its members firms.