Pacific Fund Systems delivers Comprehensive FATCA Solution

Pacific Fund Systems (PFS) has added new functionality to its latest release of PFS-PAXUS (V2014) which became available to its clients in April 2014, to expand its FATCA compliance capabilities. FATCA functionality first became available in PFS-PAXUS in September 2012 (V2012.1) which met FATCA reporting requirements at the time. However, with FATCA reporting requirements having evolved since then, the latest functionality has allowed PFS-PAXUS, and by extension its clients, to stay abreast of industry requirements. James Eldershaw, Director at PFS: “We have worked hard at making sure that our clients are fully-supported around their FATCA requirements by again providing an automated and comprehensive solution in PFS-PAXUS, our share registry/fund accounting system. In fact one of our largest clients is now offering a full FATCA solution to its clients. Using our system they will manage the process of requesting data, its analysis and remediation. It will effectively see them taking over the responsibility of managing their clients’ compliance with FATCA, including reporting to the relevant tax authorities”.