OAK BROOK, Ill., Oct. 7, 2014 (GLOBE NEWSWIRE) -- via PRWEB - NAV Consulting, Inc. (NAV) announced today that it has successfully implemented a proprietary FATCA support model across its international client base.
FATCA was designed to increase compliance by U.S. taxpayers and requires foreign financial institutions to report information related to the ownership of assets held overseas by U.S. persons. NAV Consulting will offer FATCA support to its clients at no additional cost.
There is no doubt that the fund administrator is in the best position to support funds in conducting their FATCA compliance and the role of the fund administrator in helping funds with their FATCA compliance efforts is essential. NAV embraced and pioneered this approach and it has been working with its clients and their investors to both gather appropriate documentation and support the infrastructure required for FATCA reporting and compliance.
"We believe it's important as the fund's administrator to be at the forefront of regulatory requirements that affect our clients. We have been looking at FATCA since its very early stages with the objective of developing a solution that minimizes the impact on our clients," said Nav Gupta, President and CEO of NAV Consulting. "Our proactive approach to FATCA is another example of our commitment to our clients."
About NAV Consulting
NAV Consulting provides Independent Fund Administration services for Hedge Funds, Fund of Funds, Commodity Pools, Family Offices and Managed Accounts. NAV is one of the 15 largest hedge fund administrators in the world, serving Investment Managers and Funds globally with assets under administration of over US$ 40 billion.
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