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AMCHAM [JOINT] Taxation, Capital Markets & Financial Services and Private Equity Committee Meeting

TIMELINE

? 7:30am - 8:00am: Registration / Networking

?? 8:00am - 9:30am: Breakfast / Speech / Q&A

 

SPEAKER

 

Alan Winston Granwell ?

 Of Counsel, DLA Piper?

Jay Shim?

 Senior Partner, Lee & Ko

 

?TOPIC 
“All you wanted to know about FATCA and IGA but was too afraid to ask”?

 

?Dear AMCHAM Members, 

This is currently a hot topic for banks, insurance companies, securities/brokerage companies, asset management companies as well as investment funds who are considered “FFI” under FATCA. Under FATCA, non-compliance by FFIs may result in US source income they receive being subject to 30% US withholding tax. Alan Granwell will discuss the current status of FATCA and IGA and how FFIs around the world are coping with the compliance requirements and will share the some of the procedural aspects, including revised timelines, on-line registration and IRS Form 8966, that have been recently announced by the US IRS. Thereafter, Jay Shim will conclude the FATCA presentation with an overview on how many Korean Banks are currently complying with FATCA by relying on the soon to be enacted IGA which is designed to simplify the compliance rules. He will share his experience drawn from his team’s current FATCA compliance project with Federation of Korean Banks and provide insight into how other FFIs can handle the compliance burden in a sensible and practical manner so that the day to day business operations of FFIs are not disrupted.


Best regards,

Taxation Committee Co-Chairs
Henry An, Sim Seo, Jay Shim

Capital Markets & Financial Services Committee Co-Chairs
Joan Chang, Michael Hellbeck, Simon Hurst, Michael Reed

Private Equity Committee Co-Chairs 

James Ahn, Charles Yun-Sik Chang, Jay Kim