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Section 871(m) Eligibility

Learn more about Section 871(m) Eligibility
Streamlining Section 871(m) Compliance

The IRS issued regulation Section 871(m) out of a concern that non-US investors were using US equity derivatives and other linked instruments to avoid US withholding tax on dividends. Section 871(m) re-characterizes some of these payments so they are treated as a US “dividend equivalent amount” (DEA) and are subjected to a withholding tax. Financial institutions trading or servicing these transactions face the challenge of creating new systems and processes to monitor which products fall within the scope of the regulations, and implement withholding and reporting where necessary.

S&P Global can help by determining when an equity derivative is in scope/subject to Section 871(m) and calculate the dividend equivalent amounts. Unlike any other service providers, our solution also drills down to the specific US compositions of an Index or ETF and calculates the appropriate DEA through integrating with our DeltaOne SOLA platform. Additionally, by integrating with our Portfolio Valuations solution at S&P Global, clients can directly access our Section 871(m) outputs creating streamlined functionality. Clients will not need to build any additional API feeds, as Tax Solutions will receive transaction data and pull 871(m) results directly from Portfolio Valuations.

If you are holding Qualified Derivatives Dealer (QDD) status and looking to identify withholding tax requirements or screen the population of indices and ETFs in the marketplace to identify those lacking QDD status, we can help.

Our full service 871(m) offering can cover all your needs from eligibility through compliance:

Download Section 871 (m) Eligibility factsheet
Download Tax Solutions: Section 871 (m) factsheet

Automate Section 871(m) compliance
REQUEST A DEMO

Why S&P Global?

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Minimize risk

Pre-screening of derivative products provides potential withholding rates and amounts

Increase efficiency

Centralized solution for reporting efficiently meets Section 871(m) regulations

Decrease costs

Streamlined workflows on a single platform reduce overall costs and regulatory fines

Address compliance obligations

Validated data lineage and reporting help satisfy Section 871(m) regulation obligations

Access underlying composition data

Applicable weights of the Index and the Corporate Actions events are utilized to calculate the DEA

Watch the video below to see how you can safely navigate the new tax regulations today...and keep your eye on opportunities coming over the horizon

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Managed Corporate Actions
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Information Mosaic
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Index and ETF Data Management
Single source for the management, validation, enrichment and consolidation of global multi-asset class index and ETF data
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Portfolio Valuations
Capitalize on high quality market data and independent valuations for a wide range of OTC derivatives, structured notes and cash products
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Power global trade processing across asset classes: reduce operational risk, streamline workflow and improve trading certainty in OTC derivatives markets
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Our market leading solution built on Counterparty Manager enables you to automate, validate and integrate KYC Data using our technology
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Engage with your counterparties, exchange and track entity and onboarding information securely, and address your regulatory compliance requirements
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The future of third party risk management
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Experts

William Sheridan

William has an extensive background in information reporting, documentation and withholding. He serves as one of the tax subject matter experts regarding the Foreign Account Tax Compliance Act (FATCA), the OECD's Common Reporting Standard (CRS), Qualified Intermediary (QI) compliance and Section 871(m). He works with several financial institutions, including large multi-national banks, insurance companies and funds. William has a broad range of experience assisting clients in the implementation of process and procedures for operational tax compliance. Prior to joining S&P Global, William spent over 12 years with HSBC where he was seconded in the United Kingdom and acted as the Group's subject matter expert with respect to FATCA. He was also responsible for the Group's QI program; and had oversight of internal testing, audit preparation and risk management. William has experience in implementing and developing global operational tax risk processes and procedures; and has developed information reporting, documentation and withholding training programs for business lines. William has also worked with U.S. withholding compliance issues and led successful Voluntary Compliance Program submissions. He has over 20 years' experience in the financial service industry and brings a practical understanding on how to implement strategic institutional change in order to comply with operational tax matters.

  • Financial Services
  • Legal Risk
  • Taxation Risk
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Madhu Ramu

Madhu is responsible for managing the data strategy, product, and global operations for the Corporate Actions solutions suite comprising enterprise technology and managed services for corporate actions. His responsibilities also include managing the data strategy for the Global Markets Group. He leads a global team of product, operational and cross-functional experts. He has a proven track record of delivering various initiatives focused on cross-product synergies, data sourcing, product development, operational excellence, change management, data science, automation, and vendor management.Madhu has over 15+ years of experience in reference data, pricing, and corporate actions. He joined S&P Global (now part of S&P Global) in 2012. Previously, Madhu worked at Thomson Reuters in various roles focusing on business analysis, data quality, and content management for reference data and fixed-income products.Madhu earned his Master of Business Administration degree from Marshall University, West Virginia.

  • Financial Services
  • Capital Markets
  • Equities
  • Fixed Income
  • Capital markets
  • Data Commercialization
  • Data Strategy
  • Debt Markets
  • Equities
  • Equity Derivatives
  • Financial Market Data
  • Fixed income markets
  • Municipal Bonds
  • Securitized Products
View Profile

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