In the past 10 years, governments around the world have been cracking down on tax evasion by locating lost revenue through unreported foreign assets of their residents or citizens. In addition to anti-money laundering laws that require the financial institutions to know their customers and the source of their funds, financial institutions must also know their customers' tax residency and classification in order to annually report the financial and static account data to their local tax authorities (or treat them as non-reportable). Creating confusion amongst customers, these financial institutions require lots of different forms, all with different tax jargon.

If you have individual clients living abroad or business clients looking to expand their operations overseas, they will likely call upon you to help them fill out these financial forms when opening a cash account, custodial account, equity investment, and more.

This course is an introduction to the field of tax transparency from the lens of the customer (your client).

Learning Objectives:

• Recognize the different tax forms needed to open a foreign financial account


• Determine how to pick the right form(s) that apply to your client’s circumstances


• Identify problems your client may encounter in completing these forms


• Identify ways to mitigate common mistakes in completing these forms