The Vendor is required to provide a global tax agent, accounting, compliance and consulting services for the agency.
- Services, include:
- Initial Review for Withholding Reclaims: review the k-1s issued to the system in prior years and recommend to the system whether to file to reclaim the amounts withheld based on the cost of filing versus the potential for reclaim, taking into account the dollar amount of the potential reclaim and the likelihood of success of reclaiming withheld amounts.
• Assist with tax filings, reclaims and repatriation of funds.
1.Except where already pursued by the system’s custodian, file by the applicable due dates all required account documents, reclamation forms and certifications required by local laws in order to pay taxes, claim refunds, and/or repatriate funds of the system to the states.
2.Assist the system with routine filing issues including to, fulfilling tax liabilities unless an exemption exists, filing required periodic declarations of exemptions, filing FATCA (foreign account tax compliance act) documents and obtaining country specific tax identification numbers.
3.Advise the system of the most appropriate processes to maximize reclaims and assist with all required documentation.
4.Assist the system with establishing compliance with all requirements necessary to obtain foreign institutional investor status, or similar tax-favored status afforded to the system, in accordance with local generally accepted professional and/or accounting standards.
• Act as local tax agent.
1.Represent the system in all global markets where the system’s investment would require a local tax agent or representative.
2.Assist the system’s custodian in opening accounts for the system where local presence is required by specific global markets.
• Tax, accounting and compliance consulting.
1.Perform audits in order for the system to remain compliant with all requirements necessary to maintain foreign institutional investor status, or similar tax-favored status afforded to the system, in accordance with local generally accepted professional and/or accounting standards and to obtain reasonable assurance that financial statements prepared are materially correct.
2.Advise the system of any other services normally provided by a global tax agent, accounting, compliance and consultant firm necessary to maintain its foreign investor status in those countries where such status must be maintained.
3.Assist the system and its custodian or sub-custodian in matters related to opening trading accounts and securities trading.
4.Assist, if requested, with preparation of financial statements and/or footnotes in compliance with accounting standards as it may relate to global tax.
5.Make the system aware of international market activity that could in anyway impact the system’s tax liabilities and/or tax related reporting obligations.
6.Conduct special projects or other activities, as requested.
• Reporting and communication.
1.Maintain detailed records of all activities undertaken by the firm on behalf of the system.
2.Provide on demand electronic access to activities undertaken by the firm on behalf of the system.
3.Communicate with the system and the system’s custodian regarding all activities undertaken by the firm on behalf of the system.
- Contract Period/Term: 1 year