KOGER Adds AEOI Filing To Its FATCA And CRS Compliance Software

NEW YORK, Oct. 8, 2018 /PRNewswire/ -- KOGER® Inc., a global financial services technology company, announced that it has enhanced its anti-tax evasion software with capability for automated tax reporting.  Known as KURE, the technology streamlines tax certification, validation and filing for compliance with anti-tax evasion regulations, the U.S. Foreign Account Tax and Compliance Act (FATCA) and Common Reporting Standards (CRS).

"The new anti-tax evasion functionality simplifies all of the administrative compliance functions involved with tax forms, authentication and filing.  KOGER's KURE technology is a comprehensive digital solution that automates and streamlines the complex processes involved with anti-tax evasion compliance, as well as financial crime prevention, over the complete investor lifecycle," said Ras Sipko, KOGER Chief Operating Officer.

Anti-tax evasion regulations were enacted to ensure that individuals do not escape paying taxes owed on investments domiciled in countries other than their own.  KOGER's anti-tax evasion capability now provides automated collection and validation of IRS tax and investor self-certification forms, with rules for form validation, and reportable account identification.

The technology has real time monitoring to notify its users of any reasons an investor may become non-compliant for FATCA/CRS throughout the investor lifecycle. KURE also validates Global Intermediary Identification Numbers (GINN) with the IRS FFI list, the monthly published list of foreign financial institutions registered, accepted and issued these IDs in accordance with FATCA regulations.  The software provides Taxpayer Identification Number (TIN) format validation and ongoing GINN monitoring.

The system also includes automated filing that is compliant with the global automatic exchange of information (AEOI) standard for FATCA, CRS and other treaties.  It offers automated XML file creation, business logic integration, full workflow tracking and a full audit trail.

KURE is a compliance solution for investor lifecycle management.  In addition to anti-tax evasion compliance, the technology services anti-money laundering/know your client (AML/KYC) due diligence covering the lifecycle from investor on-boarding to ongoing monitoring, off-boarding, and reporting.

KOGER provides a comprehensive, GDPR-compliant platform for investor services, compliance and business process management, serving global financial institutions, fund service providers and asset managers including hedge funds, private equity funds, mutual funds and pension funds. The company's technology supports more than 8,000 funds with $2 trillion in assets.

About KOGER

KOGER Inc. (www.kogerusa.com) is a global financial services technology company that provides software for investor services, compliance, and business process management.  KOGER's technology supports more than 8,000 investment funds with $2 trillion in assets.  The company's product suite automates transfer agency processes and administration; Know Your Customer (KYC) and Customer Lifecycle Management (CLM); and business process management.  Since 1994, KOGER has provided software solutions for the world's largest financial firms.  The company works with fund service providers and global asset managers, including hedge funds, private equity funds, retail funds and pension funds.  KOGER has offices in the US and Europe.

SOURCE KOGER Inc.