Over the course of 2012, Penad has been approached by several of its clients on the new FATCA reporting requirements and how PX3000 can be used to assist in reporting required information. Penad is working with its clients to provide functionality in generating required data that will need to be merged with other external financial data.
Click here for a commentary on FACTA and its potential implications in the Caribbean region.
For A Full Description of the Foreign Account Tax Compliance Act (FATCA) please visit http://www.treasury.gov