TAINA unveils ‘No Form’ Journey for combined FATCA and CRS forms

June 3, 2024

TAINA Technology Solutions has announced the launch of its latest ‘No Form Journey’ feature for the combined FATCA and CRS individual and entity forms.

This new development, driven by client and prospect requests, allows end customers to complete Combined Forms via TAINA’s Online Portal, delivering significant benefits for the company’s clientele.

Already supporting CRS, W8-BEN, and W9 forms within the ‘No Form Journey’, TAINA now extends this streamlined process to include Combined FATCA/CRS forms. This update aligns closely with the Cayman Forms, enabling FATCA and ‘US person’ determinations without requiring a complete W8 form. Importantly, this development sets the stage for future ‘No Form Journeys’ for other W8 forms, such as W8-BENE, W8-IMY, W8-EXP, and W8-ECI, which are expected to be available soon.

TAINA highlights several key benefits of the ‘No Form Journey’ for its clients. These include an enhanced customer experience, with a 63% faster tax form completion rate when using online or mobile methods. Additionally, there is an 85% reduction in tax form rejections, significantly minimizing errors and the need for re-solicitation. This new feature also saves time for tax operations teams, reducing the effort required to review forms.

Understanding that many customers are unfamiliar with tax forms, TAINA has developed a simple and sleek questionnaire-based journey that eliminates the need for traditional tax forms. This approach addresses common issues such as confusion and frustration among customers, which often leads to invalid form submissions 65% of the time.

The ‘No Form Journey’ aims to improve the customer experience by making tax form submission straightforward, regardless of the customer’s location, language, or any visual/audio impairments they may have.

The ‘No Form Journey’ operates on three core principles:

Progressive Disclosure UX Principle: This principle ensures an easy and sleek user experience by reducing the number of visible fields and hiding up to 70% of a traditional tax form. Core required question blocks are immediately visible, while optional question blocks are only shown when necessary. This significantly reduces the perceived length of the form, making it less overwhelming for end customers.
Quality of Language and Multilingual Support: TAINA ensures that the language used in the ‘No Form Journey’ is simple and free of tax jargon. The content is designed to be accessible to users with low reading levels and is available in nine languages, including English, Spanish, Italian, German, French, Polish, Chinese (Simplified & Traditional), and Dutch. This helps ensure that customers can provide accurate tax forms and information.
Enhanced Accessibility Standards: The Online Portal meets AA accessibility standards and has been updated to meet WCAG AAA standards in many areas. Enhancements include features for screen readers, high contrast ratios for colour blindness, and clear TAB navigation across all elements.

TAINA is excited about the future, with plans to roll out ‘No Form’ support for additional W8 forms shortly. This continued innovation aims to ensure a seamless, efficient, and accessible tax experience for all end customers.

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