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Citywire Asia: Smaller wealth managers could lose Fatca participatory status.

Citywire Asia recently wrote an article on the FATCA agreement renewal deadline, and quoted comments made by Allan Wilkinson, Director at Buzzacott, following an interview.

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Allan Wilkinson

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  • Wilkinson said, “The big institutions are and they are doing their best to be compliant from what I can see. But with many of the smaller financial institutions might not fully be aware of what their responsibilities are.”
  • Wilkinson also noted, “Even though FATCA has been around since 2014, some financial institutions are only beginning to realise now what the full extent of their responsibilities are.
  • Commenting on what constitutes US citizenship, Wilkinson said, “It’s difficult to determine how many Americans there are because you can be an American just by having been born in the US, or having a Green Card or being a resident there. There are some Americans in this region who don’t even know that they’re American.”
  • Wilkinson added, “The big financial institutions are probably fine but maybe for the smaller ones the administrative burden is too much really. So yes, some financial institutions will be a bit shy to take on US clients because of these rules.”
  • To download the full article, please click on the 'Download PDF' button on the right of the screen.
  • Article first seen in the Citywire Asia
You might also be interested in… Expatriate tax. | 英美海外居民個人所得稅業務

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我們清楚了解英、美兩地的稅制。這當中包括如何妥善管理個人收入,減少稅務和繳交正確的稅額。我們倫敦辦事處擁有豐富的經驗,為海外工作者 在人生不同的階段,提供適合他們的支援。 Buzzacott的香港團隊 (link to HK SITE) 負責維顧生活在東南亞的美國和英國國民。
















我們與全球流動團隊 攜手合作,為您提供管理國際勞動力的諮詢。不論人力資源  或財務策劃  的問題,都歡迎您與Buzzacott的專家聯絡。而作為  國際協會的會員,我們還可以為您提供全球值得信賴的專家,提供與您期望一致的服務質素。