FATCA: The Regulation and its Implementation

Paul Harb is a partner in ABIRACHED-HARB-MOUSSA law firm, located in Beirut, Lebanon and specialized in banking, arbitration, corporate finance, taxation and business law. He holds a BA and a Master’s degree of Private Law from St-Joseph Law University, Beirut.

As the Head of the Legal Department at CreditBank, Mr. Harb has been dealing with legal matters and supervising matters related to Anti Money Laundering, Legal compliance and compliance, earning a nuanced practical experience. Furthermore, Mr. Harb has been appointed as project manager to implement the FATCA compliance program in Creditbank and its subsidiaries in Armenia and Russia. In this context, he has been invited to share his expertise and conduct internal trainings and lectures on FATCA, Tax Evasion, AML/CFT and legal compliance in several financial and banking institutions and other professional forums in Lebanon and abroad. Every year since 2012, Paul Harb has been giving lectures on FATCA at UPENN, USA.

The following topics will be covered at the lecture:

Introduction to FATCA: FATCA regulation history; FATCA policy in context of US Tax Laws; FATCA requirements (including withholding obligations)

FFIs: Participating FFI; Non-Participating FFI

FFIs investigation requirements: Pre-existing accounts; On boarding clients; Form W8 and Form W9; Change in circumstances

NFFEs: Categorization; Substantial ownership; FATCA-related party /attribution rule; US-owned NF

US accounts: Held by US person (Definition); US indicia; Recalcitrant account

The event is in English and is open to public.