Accounts Payable Professionals: What is FATCA?

Home Job Board Join Tips About Privacy

Accounts Payable Professionals Group

The practical hub for Accounts Payable work, careers, and community

Process improvement, controls, automation, vendor management, and career development, written for people doing the work.

Popular topics: AP automation, fraud controls, close process, vendor management, career moves | Learn what APPG is about →

Start here

Join the LinkedIn Group Join the Community Browse AP Jobs

No spam. Just practical AP content.

Who this is for: Accounts Payable specialists, managers, directors, and finance leaders.

Columns

Automation Watch · Controls & Risk · The Close · Vendor Calls · Career Desk

Saturday, July 19, 2014

What is FATCA?

What is FATCA? It sounds like a Canadian weight-loss website or an oversized pet, but it is not. It is a US federal law that requires documentation to prevent people and companies from hiding assets from being taxed.

It seems that companies will be required to maintain even more paperwork. This also includes a new tax form: the 8966 form that will need to be submitted on March 15th, 2015.

Here are some great places to get detailed FATCA information that pertains to your accounts payable department:

US Treasury's FATCA website

Here is a YouTube video I found that describes FATCA, although it's a bit sarcastic (it describes FATCA in a more entertaining way):