The Global Industry Forum is back, with a new mission!
In this new emerging " normal", it is clear that online interaction with customers has become more critical for financial institutions than ever before.
The next Global Industry Forum will address the deficiencies in the current allowances regarding Electronic Signature and will start on 5th of November. The Forum's Expert Panel will include thought leaders from each of the Big 4, in addition to Rasheed Khan and Jake Braun.
The Industry Working Group focusing on Electronic Signature will include thought leaders from both buy and sell side institutions to cover a diverse set of views and requirements on the use of electronic signatures. Rasheed Khan will lead this Industry Working Group.
The Industry Working Group will create a recommendation and feedback to the Information Reporting Service Advisory Council (IRSAC) and Internal Revenue Service (IRS) on where the industry wants to utilize electronic signatures.
The Industry Working Group will propose the standards and agree the next steps towards adoption. To get involved in this Industry Working Group, please reach out Industry.Forum@taina.tech.
We will look to address four main topics below as a series of separate initiatives:
• Expanded use of Electronic Signatures - inclusion of Form 1042, Form 954 and 302(b) attestation
• Expanding the types of Authentication for use of Electronic Signature
• Push for rule on what qualifies a valid system for the proper form collection
• Electronic communication of 1446(f) withholding exception attestation
Our mission is to make constructive improvements to the Tax Documentation Industry Ecosystem that we are a part of.
The progress the industry has made with Withholding Statements Forums shows that, when industry comes together to address common pain points, it will achieve tangible outcomes which will benefit everyone.
Industry cooperation is more important now than it has ever been. This new mission focusing on electronic signatures is particularly relevant in our new emerging normal where we cannot necessarily rely on post and wet signatures.
If you would like to be involved in this important initiative, reach out to us on Industry.Forum@taina.tech.