CRS View has launched TrustVantage, a comprehensive software solution that automates trust company and fiduciary compliance with FATCA and OECD Common Reporting Standards (CRS).
With TrustVantage, trust companies around the world can easily meet the challenges of automated exchange of information (AEOI) by using a single solution that monitors compliance and generates the required reports.
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TrustVantage permits trust companies and corporate administrators to assemble data points on administered trusts and structures, drive FATCA and CRS compliance, monitor for changes of circumstance, handle documentary evidence, collate financial accounts from a variety of third-party custodians and automate reporting.
The constantly updated rules engine assures that responsible officers at trust companies can rest assured with knowledge that TrustVantage is coordinating compliance with the myriad of FATCA and CRS identification, classification, tracking and reporting obligations for all jurisdictions worldwide.
TrustVantage is a perfect tool for FATCA sponsors to monitor and administer FATCA compliance of their sponsored entities.
TrustVanage prepares properly formatted FATCA reports (i.e., IRS Form 8966) in accordance with IRS published FATCA schema.
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By GlobalDataTrustVantage also handles U.K. FATCA and the XML schema issued by HMRC. It works with all portals maintained by IGA Model 1 jurisdictions.
Trust companies face unique challenges preparing for automated exchange of information, and TrustVantage uniquely enables fiduciary companies to meet these challenges by bringing automation and simplicity to the identification, classification and reporting obligations.
More than just a customer relationship management system for trust companies, TrustVantage has been designed specifically to meet the needs of the new tax information exchange requirements whilst at the same time providing unparalleled business intelligence, document management, AML/KYC monitoring, CRM and marketing functionality all in a simple and intuitive interface.
A leading international tax lawyer and FATCA expert has developed TrustVantage. TrustVantage is built using state-of-the-art and secure technology.
TrustVantage is priced as a subscription on a per structure administered basis, which permits fiduciaries from small to large to have access to the platform at a price tailored to their size.
Trust companies and corporate administrators in jurisdictions adopting CRS early need to be ready to comply with CRS as of January 1, 2016, and provide automatic exchange of information reports for the calendar year 2016.
TrustVantage provides a single solution for trust companies to comply with FATCA and CRS.
Source: PRWeb
