How Much is Not Providing Your Customers a Full Service Reclaim Process Costing You?

The complexity in tax recovery is increasing. Banks and Brokers find that managing this process internally is costly, time consuming, and labor intensive – not to mention the risk.  GlobeTax maintains the expertise and infrastructure necessary to file for tax relief successfully. We provide full outsourcing solutions to the global community of financial institutions, including MIDAS® (Managed Income Distributions At Source), GlobeTax’s comprehensive global relief at source service.


Our services are tailored to meet the specific needs of bank/broker clients: investors of varying tax status, portfolio composition, and country of residence. GlobeTax provides solutions that integrate seamlessly with our clients’ in-house systems including co-branded or white label options.

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U.S. Qualified Intermediaries (QIs)

Many QIs struggle to maintain enough knowledgeable resources to keep up with changing regulations, forms and procedures. Working with GlobeTax helps firms stay compliant as we employ some of the most well-known subject matter experts and authors on U.S. tax regulations as they apply to non-U.S. financial institutions and investors. GlobeTax assists QIs with:

  • documentation for chapter 3 and chapter 4 status (Forms W-8);
  • U.S. Tax Returns (Form 1042);
  • Tax Information Reporting (Forms 1042-S);
  • IRS and recipients filing; and
  • collective refunds.


Our services provide a simple path to compliance while being responsive to clients’ needs.

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U.S. Non-qualified Intermediaries (NQIs)

The starting point to compliance and optimizing investors’ income from U.S. investments is understanding the intent and practical impact of U.S. tax regulations. Often NQIs are not aware of their tax reporting obligations. With GlobeTax’s help NQIs will be able to provide clients with a streamlined, dependable tax reclaim service to your clients.

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Subcustodians often face issues collecting required documents and data from their omnibus clients due to varying information formats and short election reporting deadlines. GlobeTax’s ESP and MIDAS® systems solve these issues by streamlining the collection of beneficial owner data. ESP is designed to pierce through layers of a custody chain with its Designated Intermediary feature, allowing upstream omnibus account holders to identify additional omnibus account holders further down the custody chain. Thousands of users from major financial institutions throughout the world employ this system, which can be implemented at any node in the custody chain. MIDAS® enables market participants at any point in the custody chain to simultaneously process multiple relief at source events and completely outsource tax functions. Documentation collection, validation, and maintenance services are provided alongside these systems.

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Prime Brokers

GlobeTax works with prime brokerage firms to make tax reclamation available to their clients as a value-added service, at no risk or direct cost to them. Our unique processing solution enables prime brokerage clients to benefit from tax recovery without violating data protection and privacy rules.

Contact us for a free estimate of your clients’ likely cash entitlements, which may include multiple years of available recoveries under statutes of limitations.

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