PARAMUS, N.J., April 29, 2014 /PRNewswire/ -- Broadscope Fund Administrators, an independent private equity fund administration firm, released a white paper outlining key recommendations for private equity firms developing strategies to comply with the Foreign Account Tax Compliance Act (FATCA). The paper, FATCA Compliance for Private Equity Funds: Navigating the Clutter, outlines the responsibilities of both foreign and domestic private equity funds and suggests measures that should be considered in developing an effective FATCA compliance program.
"FATCA goes into effect July 1 and there is still considerable uncertainty in the market," says Robert F. Aufenanger, Founder and Managing Member. "Private Equity firms that have yet to develop a FATCA compliance program need to make it a priority, as lack of compliance could have serious consequences for their funds and their investors."
Whether Private Equity firms decide to administer their FATCA compliance program in-house or use the assistance of a third-party administrator, Broadscope's white paper provides a clear summary that cuts through the clutter to identify key steps for these firms to address now.
For more information, or to download the white paper, please visit: www.BroadscopeFA.com
About Broadscope Fund Administrators
Broadscope uses a high touch, boutique-style model to provide full-service administration to private equity fund managers. Broadscope's premium service model is based on direct access to senior management, robust quality controls and innovative technology. The Company's founders and senior employees have significant industry-specific experience and knowledge of a broad range of private equity fund types and structures. The Company prides itself on the experience of its senior team, which forms the basis of Broadscope's personalized service offering.
SOURCE Broadscope Fund Administrators