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FATCA Legal Entity Registration Associate

Job Description

JPMorgan Chase is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients.

This role is within the CIB Tax Operations Center of Excellence and is a lead Associate position with a focus on managing the FATCA legal entity registration process.

The Foreign Account Tax Compliance Act (FATCA) is a U.S. tax law aimed at stopping U.S. people from evading tax by hiding their investments overseas.  FATCA requires that foreign financial institutions document and disclose their U.S. client accounts to the IRS or be subject to a 30% withholding tax. Foreign financial institutions must register with the IRS, as evidence of their FATCA compliance, to avoid this withholding.  As a global financial institution, JP Morgan must analyze all of its legal entities on an ongoing basis and register those that meet the requirements.  To date, JPM has classified and registered 2,500 branches, subsidiaries and managed funds. 

 The FATCA Legal Entity Manager will be responsible for managing the ongoing maintenance of all JPM registrations globally including the ongoing maintenance of the FATCA registrations on both the IRS Portal and the GEMS system.  Key responsibilities include:

  • Identify changes to the JPMC legal entity structure, determine their impact on FATCA registration and initiate changes as required:
    • Periodically (at least monthly)identify and act upon adds/change/deletes to JPMC’s legal entity hierarchy
    • Track alerts of new/closed entities from GEMs throughout month
    • Coordinate with Asset Management reps for list of new/liquidated funds
    • Mid-month run full entity report from OTS/GEMS and compare to prior month.  Identify adds/deletions and changes (name, ownership, etc)
    • For new entities follow classification methodology to determine if registration is required
      • Coordinate registration with India Ops team who will do the data entry into the IRS system
      • Capture assigned Global Intermediary Identification Numbers from IRS site
      • Update Master List/GEMS with FATCA legal entity reference data (GEMS will replace need for Master List over time)
      • For liquidated entities, de-register on IRS site and update Master List/GEMS
      • For adds/deletes coordinate impact with Corporate Tax Control group


·         Periodically (minimum monthly) review for new/changes to Intergovernmental Agreements (IGAs), assess impact on registration and adjust as needed

  • Reconcile registered entities per Master List/GEMS to IRS published list each month and remedy exceptions


  • Work with Corporate Tax to understand impacts of new/changes to the FATCA regulations
  • Work with Corporate Tax to understand impacts of new/changes to the FATCA regulations
  • Bachelor’s Degree with 5+ years professional experience; 2+ years of project experience
  • Ability to handle multiple deliverables concurrently to deliver high quality results in committed timeframes
  • Partnership oriented and Team player with ability to communicate with all staff levels within and outside of own area
  • Self-starter with excellent leadership, interpersonal and project management skills
  • Strong data mining, problem solving, & analytical skills with ability to summarize findings
  • Organized &Detail Oriented
  • Proficiency MS Excel, MS PowerPoint, MS Project and MS Access. Experience with QC and other testing tools a plus
  • Familiarity with SAP and/or Oracle ERP systems, JPMC financial processes , and a solid understanding of reference data infrastructure including repositories and maintenance
Req #: 160009816
Location: Newark, DE US
Job Category: Operations
Employment Type: Full Time
Potential Referral Amount: 0 US Dollar (USD)

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