Raul Jose, Responsible Officer at Bank in South America

“Being from Colombia, the Sponsoring Entity issue is vital. In the course, Foodman explains how to become a “Sponsoring Entity” by registering for the second time since we previously had a GIIN. Now as a sponsor, we can register other sponsored entities under the same FATCA portal. In addition, as we are an FFI from an IGA 1 country, we may have Trust accounts exempt from requiring a GIIN, although they are reported by FATCA. The course helped us understand the concept of the third GIIN to report Trusts.”

— Raul Jose, Responsible Officer at Bank in South America