FATCA

(Foreign Account Tax Compliance Act)

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ONESOURCE WORKFLOW MANAGER FOR WEALTH MANAGEMENT

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ONESOURCE TRUST TAX SOFTWARE

 

provides the most comprehensive trust tax compliance software available.

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ONESOURCE TRUST TAX SERVICES

 

can identify a solution for all of your trust tax issues.

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With ONESOURCE Trust Tax, Thomson Reuters offers both software and tax preparation services for financial institutions worldwide, including personal and institutional trust departments, U.S. withholding agents, and private banking institutions.

The ONESOURCE TRUST TAX portfolio includes software and services for:

• Form 1041 for estates, trusts, or bankruptcy estates
• Form 5227 for charitable trusts
• Form 990/990-PF - exempt organizations & private foundations
• Form 1099
• Form 1042-S - NRA reporting
• Income reallocation of mutual funds, REIT type assets
• Qualified/non-qualified dividends
• Return of capital
• State reporting for municipal mutual funds
• Widely Held Fixed Investment Trust Assets (WHFIT) reporting
• Original Issue Discount (OID) reporting
• Unit Investment Trust (UIT) reporting
• Mortgage-Backed Securities (MBS) reporting
• Real Estate Mortgage Investment Conduit (REMIC) reporting
• Dividend, interest, proceeds from broker & barter exchange, miscellaneous, OID & retirement

ONESOURCE Trust Tax is a U.S.-based tax reporting application financial institutions use for agency, custody, investment, and retirement type accounts. It also helps with:

• Gathering, updating, and maintaining trust accounting data
• Processing federal and state 1041s, 1099s, 5227s, and 990s
• Computing and printing tax returns, estimates, and other tax documents
• Providing status to tax professionals outside the tax department
• Generating quarterly estimates
• Filing tax returns electronically
• Remitting balance due and estimated tax payments

AUTOMATE ALL PHASES OF THE TAX PROCESS

ONESOURCE Trust Tax automates all phases of the tax process - from initial bridging of accounting system data and tax reporting data manipulation to the final print and filing of completed tax returns. ONESOURCE Trust Tax enables you to communicate directly with the application servers maintained in the multitier, secure Thomson Reuters Data Center.

Your tax department can access, update, and review data while Thomson Reuters handles the complexities of disaster recovery, server management, law and output form changes, high-volume data management, and volume printing.