Key facts

One tool

3 components in one. Collection, indicia search and reporting

Success rate

70% of recertifications are achieved digitally

TrackWizz FATCA CRS allows a financial institution with core indicia search and helps to digitally collect self-certification clubbed with due diligence, further generating reports to be submitted to tax authority, which is called 61B reporting in India and needs to be submitted to Central Board of Direct Taxes (CBDT)/Income Tax Authority under Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting.

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Applicabilty

Features and benefits

Recertification
module

Automated communications to clients, via online and offline channels to collect FATCA CRS declarations

US & CRS indicia search

Multi attribute intelligent search for high quality detection

Regulatory submission

One click generation of reports in the formats specified by the tax authorities

Pay-per-use

No capital investment

Automated classification

Rule based engines for customer and account classification using financial information

Single repository

Single repository where all data and supporting documents are stored
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