1042-S QI-Reporting in Avaloq
Numerous banks have been relying on our expertise for many years to determine which data, in which format, must be submitted to the US tax authorities (IRS) as part of the 1042-S reporting process. Since the specifications change practically every year, these institutions benefit from our monitoring and the continuous updating of our solution. We understand all tax regulations that control the exchange of tax data with the IRS.
We are also very familiar with the mandatory customer monitoring and documentation processes related to QI. During implementation, we take into account the existing QI setup of each bank and can make recommendations on how this can be optimised. Our 1042-S reporting solution for Avaloq banks is a prime example of our approach: specialist expertise and IT implementation from a single source.