An overview of the updates being applied to Flyingboat Tax Data Exchange software and Bureau Service for 2016 Tax Reporting under US FATCA and UK-IGA (aka UK-FATCA / CDOT). fb-TDE creates xml files to submit to tax authorities for meeting tax information exchange compliance requirements. Find out more at : http://flyingboat-wms.com/fatca

1. Flyingboat Tax Data Exchange 2016
FATCA and UK-IGA (CDOT) Reporting

2. Keeping it simple
• Easing the burden of data acquisition –
fb-WMS, xlsx import, direct input,
integration with 3rd party systems
• Validation, sharing of data and approval
of data
• Managing the data submission lifecycle.
• Automating Submission of data where
possible

3. • Building on success of FATCA reporting in 2015
• fb-TDE software & bureau service met the reporting requirements of nearly
40 financial organisation groups spread across numerous jurisdictions
reporting into multiple tax authorities and US IRS directly.
• Financial groups included: Fiduciaries, Fund Administrators, International
Banks, Stock Broker / Investment Managers and Law firms
• 2016 second year reporting for US FATCA
• 2016 first year reporting for UK-IGA (aka UK FATCA for Crown
Dependencies & Overseas Territories - CDOT)
fb-TDE 2016 software update

4. • Extended reporting styles : FATCA xml, CRS xml, hybrid xml
• CDOT : Host country tax authorities are still in the processing of confirming reporting formats
for UK-IGA reporting, where declared these include US FATCA, CRS and custom formats
extending US-FATCA. ARR reporting styles also vary including as yet undefined spreadsheet
formats (!)
• Extended & modified account holder data record
• Support for more granular address format for CRS & UK-IGA
• Optional enhanced entity data record keeping for compliance monitoring, indicia recording
etc.
• Management Reporting
• Extension of reporting capabilities
fb-TDE 2016 software update
Functionality enhancements

5. • Licence Agreements & Bureau Service
Agreements available now
• Initial release & on premises installs from
November 2016
• Subsequent software updates as additional or
changed reporting requirements emerge and are
addressed
fb-TDE 2016 timetable

6. • Web portal for data upload, download and management
• Updated data collector spreadsheet
• NEW ! - Spreadsheet Checker App:
• Validates data collection spreadsheet before uploading
to web portal, reduces data turnaround time
• Drag and drop, live real time validation by the app
• Dynamic live reporting of errors, warnings and report
summary
fb-TDE Bureau Service

7. fb-TDE Bureau Service
Data collector spreadsheet validation
XLS data collector
spreadsheet is
opened in the
checker app which
reports on the
contents of the data
highlighting any
errors or warnings.
These may be
addressed before
uploading into either
the fb TDE software
or our web portal for
Bureau Service
processing.

8. • Web portal for data upload, download and management
• Updated data collector spreadsheet
• NEW ! - Spreadsheet Checker App:
• Validates data collection spreadsheet before uploading
to web portal, reduces data turnaround time
• Drag and drop, live real time validation by the app
• Dynamic live reporting of errors, warnings and report
summary
fb-TDE Bureau Service

9. Integrated application for wealth management industry
• As used in : Trust & Company Administration, Fund Administration, Practice
Management, Financial Services
• Client database, CRM, Compliance/KYC
• Multi entity multi currency accounting and reporting with Investment
portfolio management
• Secretarial Administration – statutory record keeping
• Time recording, fee billing and practice management
Visit our website : flyingboat-wms.com
Also from Fusion:
Flyingboat Wealth Management Software

10. Alan Rowe
arowe@flyingboat-wms.com @FusionAlan
www.flyingboat-wms.com/fatca
© Fusion Systems Limited 2015