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US Qualified Intermediary

Due to tightening regulation by United States authorities, there are growing demands for reporting by investment firms outside the US. At Pershing, we understand the complexity of these reporting requirements and are able to support your business through our status as a US Qualified Intermediary (US QI).

Pershing’s US QI registration means there is no requirement for our clients to hold registration—which means you are able to virtually eliminate your interaction with the US Internal Revenue Service (US IRS), significantly reducing your documentation requirements. Moreover, you’ll be able to streamline your audit process by utilising Pershing’s audit.

Pershing assumes regulatory reporting responsibilities directly with the US IRS for “US source income” including:

• 1099 reporting—income and sales proceeds to US persons
• 1042 reporting—US source income paid to non-US clients

Pershing holds a statutory audit with the IRS meaning you will not be required to do this.

Pershing provides tax relief at source, based on appropriate documentation.