Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Conference Agenda

International Tax Withholding & Information Reporting Conference - Agenda, powered by Loscalzo Institute

DAY ONE | Thursday, June 7th

8:00–9:00 AM | REGISTRATION AND CONTINENTAL BREAKFAST

 

9:00–9:15 AM | OPENING REMARKS

  • Chip K. Collins, UBS AG
  • John Staples, EY

 

9:15–10:15 AM | DOCUMENTATION AND DUE DILIGENCE

This perennially popular panel (“PPP”) looks closely at the first pillar of the different IRW regimes: the proper identification of customers for tax purposes and the continuing need to monitor their relevant characteristics for compliance with FATCA, CRS, and the US domestic withholding tax regimes. The panel will discuss issues that continue to challenge the industry in its efforts to comply with the complex rules associated with the various regimes.

  • Chip K. Collins, UBS AG (Moderator)
  • Laurie Hatten-Boyd, KPMG (Panelist)
  • Danielle Nishida, KPMG (Panelist)

 

10:15–10:30 AM | REFRESHMENT BREAK

 

10:30–11:30 AM | ROUNDTABLE ON THE 2017 INFORMATION REPORTING SEASON AND CHALLENGES FOR THE 2018 SEASON

The second panel provides an update on the second pillar of the IRW regimes: the provision of accurate taxpayer information to governmental authorities to ensure compliance with local tax regimes. The challenges to a successful reporting season are many: the multitude of regimes with different requirements; annual changes to the relevant rules and operational filing criteria; and the sheer volume of reports required.  Our roundtable of experts will give first-hand accounts of what they saw during the 2017 filing season and how they are working with clients to overcome these challenges in 2018.

  • Kelli Wooten, IHS Markit | CTI Tax Solutions (Moderator)
  • Cyrus Daftary, KPMG (Panelist)
  • Denise Hintzke, Deloitte (Panelist)
  • Robert Limerick, PwC (Panelist)
  • Debbie Pflieger, EY (Panelist)

 

11:30–12:30 PM | THE CONTINUING CHALLENGES OF SECTION 871(m) AND THE QDD RULES

The section 871(m) requirements, along with the related Qualified Derivative Dealer regime, continue to phase in despite numerous areas of ambiguity and operational and implementation challenges. The panel will both identify relevant issues and offer suggestions on how to overcome them.

  • Julio Jiminez, Jiminez Tax Law (Panelist)
  • Jay Klein, PwC (Panelist)
  • Nelson Suit, IHS Markit | CTI Tax Solutions (Panelist)

 

12:30–1:30 PM | LUNCHEON SPONSORED BY KAPLAN

 

1:30–2:30 PM | PREPARING FOR THE NEW WORLD OF QI AND FFI COMPLIANCE CERTIFICATIONS

One of the most daunting features in both the new QI Agreement and the FFI Agreement is the introduction of the requirement for a Responsible Officer (“RO”) to certify that the QI/FFI is compliant with its obligations. The fact that the certifications must be made under penalties of perjury has caused no end of consternation for those chosen to serve as ROs for their organization and those supporting the ROs in making the certification. Our IRS panelists will walk us through the certification process and explain what to expect and how to proceed.

  • Chip K. Collins, UBS AG (Moderator)
  • Yuen Chan, IRS (Panelist)
  • Trevon Singh, IRS (Panelist)
  • Linh Vu, IRS (Panelist)

 

2:30–3:30 PM | ALL ABOUT THE QI PERIODIC REVIEW AND HOW IT DIFFERS FROM THE CERTIFICATION OF EFFECTIVE INTERNAL CONTROLS

Completion of a “Periodic Review” of one year of the 3½ year certification period is required of QIs not subject to a waiver in order to make a certification of effective internal controls vouching for their compliance with the QI Agreement. The QIA includes detailed instructions on how to conduct the review as well as a safe harbor sampling methodology. This panel will address frequently asked questions about the periodic review (and there are many!) and what steps go into a successful review.

  • Chip K. Collins, UBS AG (Moderator)
  • Tara Ferris, EY (Panelist)
  • Kevin Sullivan, BOA (Panelist)
  • Markus Weber, Deloitte (Panelist)

 

3:30–3:45 PM | REFRESHMENT BREAK

 

3:45–4:30 PM | THE EFFECT OF THE TCJA ON IRW OPERATIONS

The US made comprehensive changes to its tax system as a part of the Tax Cut and Jobs Act (“TCJA”). While attention has been focused on many high profile changes from individual deductions to international operations, it is important for anyone concerned with IRW operations to understand how changes in back up withholding and other tax rates can affect overall operations. The changes affect many disparate areas and introduce some challenging implementation and transition issues. This panel will highlight these changes and what you need to keep in mind.

  • Denise Hintzke, Deloitte (Panelist)
  • Susan Segar, Deloitte(Panelist)

 

4:30–5:15 PM | IRPAC UPDATE

IRPAC constitutes an important link between the IRS and the financial community and allows the two to both learn and react to relevant issues. This panel will provide an update on which issues are being discussed with the IRS and any prospects for their resolution.

  • Dana Flynn, BNP Paribas (Panelist)
  • Kevin Sullivan, BOA (Panelist)
  • Kelli Wooten, IHS Markit | CTI Tax Solutions (Panelist)

 

5:15 PM | DAY ONE ADJOURNS

 

5:30 PM | RECEPTION

DAY TWO | Friday, June 8th

7:30–8:30 AM | REGISTRATION AND CONTINENTAL BREAKFAST

 

8:30–8:45 AM | RECAP OF PRIOR DAY AND ADMINISTRATIVE ANNOUNCEMENTS

 

8:45–10:00 AM | A DISCUSSION WITH IRS OFFICIALS

This morning begins the dialogue with our IRS colleagues on how the IRS is administering the various IRW regimes under their jurisdiction. You will hear directly from IRS officials on their administrative challenges and how they intend to ensure compliance. This is also an opportunity for the IRW community to explain how these regimes are working on the ground and what might be considered by the IRS to be mutually beneficial.

  • Cyrus Daftary, KPMG (Moderator)
  • Nicole Cammarota, IRS Counsel (Panelist)
  • William Holmes, IRS (Panelist)
  • Barry Levine, IRS (Panelist)
  • Johanna M. McGeady, IRS (Panelist)

 

10:00–10:15 AM | REFRESHMENT BREAK

 

10:15–11:15 AM | DISCUSSION WITH IRS CHIEF COUNSEL

The discussion with the IRS continues but with the Office of Association Chief Counsel and focused on outstanding legal issues and any late-breaking guidance from the IRS. Given the complexity of the various IRW regimes, it would seem that there are always issues in need of resolution and this panel both allows the financial community to explain various issues to the IRS and hear IRS views on such issues.

  • John Staples, EY (Moderator)
  • Phil Garlett, EY (Panelist)
  • Jonathan Jackel, EY (Panelist)
  • Nancy Lee, IRS ACCI (Panelist)
  • John Sweeney, IRS ACCI (Panelist)

 

11:15–12:15 PM | CRS UPDATE AND OECD PROPOSAL ON MANDATORY REPORTING

Withholding agents need to be aware of how the CRS regime continues to phase-in across the world and how that regime may affect various parts of a multinational group and the customers served by those groups. And as the CRS regime matures, there is a better understanding of what works and what does not in successfully implementing the regimes country-by-country as the rules come on-line. On top of those challenges is the new OECD proposal on mandatory reporting which is important to understand and follow as it develops.

  • Jenny Turner, UBS AG (Moderator)
  • Michael Brevetta, Standard Chartered Bank (Panelist)
  • Christopher Phillips, Deutsche Bank AG (Panelist)
  • Steven Veschio, BBH (Panelist)

 

12:15–1:15 PM | LUNCHEON SPONSORED BY KAPLAN

 

1:15–2:15 PM | NEW ISSUES AFFECTING SECTION 1446 COMPLIANCE

Distributions from partnerships give rise to section 1446 withholding tax and reporting compliance issues. It is important to understand how and why section 1446 operates and how those rules can affect your operations. In addition, the passage of the TCJA both changed relevant rates which always gives rise to operational and transitional issues and may present new considerations for tax planning.

  • Tara Ferris, EY (Moderator)
  • David Felman, Goldman Sachs (Panelist)
  • Dan Iacovitti, Morgan Stanley (Panelist)

 

2:15–3:15 PM | A LOOK AT COMMON HEADACHES FOR WITHHOLDING AGENTS

Life for withholding agents is not all publicly traded securities with predictable dividends or interest payments! Reclassifications, deemed dividends (e.g., section 305(c) and section 302), REITS, and a whole host of other issues can present substantial tax technical and operational challenges. This panel will both identify and analyze these thorny subjects and offer suggestions on how to deal with them.

  • Jake Braun, BNYM (Moderator)
  • Fred Bousquet, State Street Bank & Trust (Panelist)
  • Karan Mosley, Barclays (Panelist)

 

3:15 PM | CHAIRMEN FINAL REMARKS & CONFERENCE ADJOURNS