EY - Qualified Intermediary (QI) compliance

EY Tax Webcast

Qualified Intermediary (QI) compliance

  • Share

The IRS released the final Qualified Intermediary (QI) Agreement on 30 December 2016. The QI Agreement requires a QI to appoint a Responsible Officer to personally attest under penalties of perjury that a QI is meeting its obligations under the agreement.

This webcast will focus on practical advice for Responsible Officers to make certain that they are able to successfully file with the IRS a “Certification of Effective Internal Controls” as we approach the end of the first certification period and avoid having to file a qualified certification which likely would invite significant IRS scrutiny.

Join us for an update of the latest developments as our panelists discuss best practices that Responsible Officers may wish to undertake during 2017 and beyond to achieve proper compliance and prepare for the certification due mid-2018.


EY - Tara Ferris

Tara Ferris


Tara Ferris is a Principal in the Ernst & Young LLP FSO Business tax services practice. Prior to joining EY, Tara served as Senior Counsel with the Office of Associate Chief Counsel (International). She is a principal draftsperson of the QI Agreement, including the revised compliance procedures and requirements for QDDs.

Tara is also a principal draftsperson of the FATCA regulations, notices, and forms, chapters 3 and 61 coordination regulations, FFI Agreement, and WP/WT Agreement as well as a contributing draftsperson to the withholding aspects of the regulation under section 871(m). She also served as an advisor on Automatic Exchange of Information at the OECD where she provided advice on creating synergies between the Common Reporting Standard (CRS) and FATCA.

EY - James Guthrie

James Guthrie


James Guthrie is a Partner in the Ernst & Young LLP EMEIA tax practice. James is recognized as one of the leading global operational tax practitioners having specialized for over 16 years and has worked extensively with clients and governments in the world’s major global financial centers. He frequently travels overseas to advise clients and specializes in multi-jurisdictional engagements.

James has worked with numerous clients on multi-jurisdiction engagements, particularly in respect of FATCA, CDOT, and CRS, as well as the Qualified Intermediary regime, EUSD and UK domestic regimes such as TDSI (Tax Deduction Scheme for Interest) ISAs and s17/18 reporting and has extensive relationships with global tax authorities.

He has spent the last six years specializing in the FATCA regulations and IGA developments, advising multiple FFI across banking, insurance and asset management. He sits on the UK HMRC working party group and has advised several governments globally on their IGA approach. James has particularly specialized in working with non-tax personnel to increase their understanding of tax issues and embed tax compliance within business operations.

EY - Todd Larsen

Todd Larsen


Todd Larsen is a member of Ernst & Young LLP’s Financial Services tax practice and focuses on tax information reporting and withholding, IRS practice, procedure and controversy. He advises financial service and non-financial service clients in all aspects of information reporting and withholding, with a focus on the Foreign Account Tax Compliance Act, non-resident alien reporting and withholding issues, domestic reporting and backup withholding issues, Qualified Intermediary audits and requirements, reporting and withholding compliance reviews and remediation and the Common Reporting Standard.

Prior to EY, Todd led the IRS's enforcement initiatives and overall program administration for withholding on foreign payments. His knowledge of IRS policy and procedure, its personnel and its methods of enforcement has been effective in representing clients in situations of tax controversy and in agreements with the IRS to reduce tax information reporting and withholding burdens.

EY - Jillian Nicolson

Jillian Nicolson


Jillian Nicolson is a Partner in the Financial Services Organization tax practice based in Toronto, Canada. She has more than 17 years of experience supporting the financial services sector on domestic and international information reporting and withholding matters including the Qualified Intermediary regime, FATCA and the Common Reporting Standard. She has a diverse professional background providing tax advisory, tax compliance and tax risk services to various financial services industry segments including the banking, broker dealer, insurance, asset management, and leasing sectors.

Jill is a Chartered Professional Accountant (1991) with a Bachelor of Commerce degree in accounting from the University of British Columbia.


EY - John Staples

John Staples

EY Global Tax Policy Leader

John Staples is a Principal at Ernst & Young LLP and serves as the EY Global Information Reporting and Withholding (“IRW”) Markets Leader. Prior to joining EY, John was the managing partner of the U.S. office of Burt, Staples & Maner, LLP. John’s clients include major financial institutions, multinational corporations headquartered in the United States and Europe, banking and business associations, and foreign governments.

John also previously served as the Associate Chief Counsel International of the US Internal Revenue Service, the highest international tax position in the I.R.S. He began his IRS career as a Special Assistant in charge of international projects to IRS Commission Margaret Richardson.