Xceptor QI Hub is a business rule-driven QI Reporting product. It addresses all of a non-US organisation's needs in complying with the US 1441 NRA Regulations. In common with all other Xceptor solutions, it is easy to deploy, cost effective and flexible.

The Xceptor Product Suite

Xceptor Matching QI Hub is an integrated member of the Xceptor suite of web service products. By making use of the data processing and management components, Xceptor QI Hub delivers an advanced solution to an organisation's QI management and reporting needs.

The Business Challenge

Xceptor QI Hub is aimed at banks and financial organisations that are required to meet the reporting regulations.

• Determine and demonstrate the correct residency and type of each beneficiary to which it has distributed income.
• Identify all US based beneficiaries of income and submit the appropriate 1099 type income and tax return to the US IRS.
• Identify all non-US based beneficiaries of US-originated income and supply the appropriate 1042-S type income and tax returns to IRS.
• Maintain all appropriate beneficiary documentation and payment data to satisfy any QI related individual query or Corporate Audit

Product Benefits

Xceptor QI Hub allows organisations to centralise all the activities required to fully comply with the US 1441 NRA Regulations. Xceptor QI Hub provides the following benefits:

• The process of deriving, managing and distributing all customer documentation is fully automated with built-in renewal management.
• The management of payment data, including that from NQI's is automated and business rule managed, simplifying the implementation of change and the take-on of additional NQI's.
• Xceptor QI Hub's integration with Xceptor Tax Hub enables all calculations of withholding tax reclamations to be performed automatically and accurately.
• Xceptor QI Hub's comprehensive reporting and audit logging facilities satisfies the IRS reporting requirements and provides detailed query capability.
• Full service support provision, be it the ongoing distribution of Regulation or Form updates or assistance with business rule configuration.
• Through our flexible licensing structure and effective implementation approach, Xceptor has a low cost of ownership.
• The management of indirect payments such as those through Foreign Intermediaries or those based on holdings or asset baskets.