Last updated: 23 Nov 2025
QI Services in Singapore
QI compliance for banks, broker-dealers, custodians and asset managers in Singapore:
QI registration & agreement onboarding, implementation of W-forms & Reason-to-Know,
operational run (pooling, treaty rates, 1042/1042-S) as well as
Periodic Review & RO certification – fully remote or on-site in Singapore.
New: Optional QDD (Qualified Derivatives Dealer) including 871(m) support.
Highlights (short)
Approved KYC (Singapore)
Singapore KYC standards under MAS and local regulations can be aligned with Approved KYC in the QI regime – but W-forms, Reason-to-Know and renewals remain central for US tax.
KYC W-8/W-9 RtK
Pooling & treaty rates
Documentation and withholding tax concept including pools, treaty relief and – optionally – QDD/871(m) coverage for derivatives and structured products booked in Singapore.
Pooling Treaty 871(m) QDD
1042/1042-S & Periodic Review
Annual 1042/1042-S obligations, Chapter 3/4 alignment and Periodic Review including RO certification preparation for Singapore-based QIs.
1042-S RO Review
Services: Start · Build · Run · Assurance
Our Singapore QI service model is built around four modules: START (QI registration & setup), BUILD (implementation & advisory), RUN (operational support incl. 1042/1042-S) and ASSURANCE (Periodic Review & RO support). Each module can be used stand-alone or combined into a multi-year roadmap.
Packages & pricing – Qualified Intermediary (QI) (Singapore)
START — QI registration & setup
QI portal, RO/CO, agreement onboarding
SGD 3,200 fixed fee
- QI registration (EIN, QI portal), governance, optional QDD election
- Documentation/forms strategy (W-8IMY, W-8BEN-E, etc.) aligned with your Singapore client base
- Checklists & templates for a safe go-live
BUILD — Implementation & advisory
W-forms, RtK, pooling, QDD (optional)
from SGD 6,500 (scope-dependent)
- Validation rules & refresh cycles, exception handling
- Pooling & treaty rates, backup withholding risk management
- 871(m)/QDD processes (optional), roles & workflows with Singapore units
RUN — Operational run (1042/1042-S)
RtK clearing, annual filings, corrections
SGD 4,500 light · SGD 7,900 standard · SGD 12,500 extended
- Annual 1042/1042-S preparation & Chapter 3/4 reconciliation
- Error handling & correction runs, evidence & reporting
- QDD (optional): dividend equivalents, recordkeeping and supporting calculations
ASSURANCE — Periodic Review & RO
Mandatory review with robust workpapers & certification preparation
SGD 7,500 Quick · SGD 14,500 Deep-dive · from SGD 28,000 Full Periodic Review
- Self-assessment vs. QI agreement, gap analysis
- Sampling plan, testing & workpapers (audit trail)
- Remediation plan & RO certification preparation
- QDD/871(m) optional: additional scope & evidence package
Optional add-ons
- QDD/871(m) deep scope (pricing based on scope, typically from SGD 3,500)
- Additional samples/segments (from SGD 1,200)
- Vendor report tests (1042-S layouts, validations, corrections) from SGD 1,800
- On-site days (Singapore): SGD 1,100 / day plus travel expenses as agreed
- Training (front office, compliance/operations, IT/data) – from SGD 1,400
Prices are exclusive of applicable taxes and subject to scope/complexity and data quality.
Process & responsibilities
Your institution
- QI/QDD strategic decisions, product scope, intermediary relationships
- Provision of data, system/interface owners and key stakeholders in Singapore
- Approval of policies & oversight of operational implementation
Owner Data
USTaxBanks
- Technical implementation & quality assurance (documentation, pools, rates)
- Support with 1042/1042-S and Chapter 3/4 reconciliations
- QDD (optional): design & review of 871(m)/QDD processes & evidence
Execution Support QDD
FAQ
What does QDD (optional) mean in practice?
With the QDD election, certain derivatives transactions can be managed under the QI regime. We support you with 871(m) scoping, instrument classification, process design and the necessary evidence.
Do we still need W-forms with Approved KYC (Singapore)?
Yes. Approved KYC makes documentation review easier, but it does not replace W-forms and Reason-to-Know. Both remain key for QI compliance.
Do you support the full Periodic Review – including QDD?
Yes. We perform the review (including sampling & testing) and prepare the RO certification. If you are a QDD, we can optionally focus on 871(m) controls and evidence.