Senior Analyst, U.S. Tax Reporting

Questrade Financial Group (QFG), through its companies - Questrade, Inc., Questrade Wealth Management Inc., Community Trust Company, ThinkInsure, Zolo, and Flexiti, provides securities and foreign currency investment, professionally managed investment portfolios, mortgages, insurance, real estate services, financial services and more. Questrade uses cutting-edge technologies to develop innovative products that give customers better, more affordable ways to take control of their money.

We are everything a traditional financial institution is not. At QFG, you will be constantly moving forward, bringing the future of fintech into existence. You will be a part of a collaborative team that cares deeply about our mission and each other. Your team members will help you conquer challenges, push boundaries and discover what you are truly capable of.

This is a place where you can explore, discover and learn with continuous growth. As a diverse and inclusive place to work, with a hybrid working environment you can unleash your creativity and curiosity with no limits. If you share the same sense of infinite possibility, come shape your future at QFG.

What's in it for you as an employee of QFG?

• Health & wellbeing resources and programs
• Paid vacation, personal, and sick days for work-life balance
• Competitive compensation and benefits packages
• Work-life balance in a hybrid environment with at least 3 days in office
• Career growth and development opportunities
• Opportunities to contribute to community causes
• Work with diverse team members in an inclusive and collaborative environment

We're looking for our next Senior Analyst, U.S. Tax Reporting. Could It Be You?

The purpose of the Senior Analyst, U.S. Tax Reporting is to provide support to the Tax Reporting team with regards to operational processes, including client documentation review, withholding tax remittance, income reconciliation, and tax reporting to clients and regulators, to continue to comply with US tax regulations (Canadian tax regulations where required).

The role is also intended to provide support on tax related research, ensuring Questrade reports tax information accurately to Investors and Regulators. Tax related research includes research on rule changes that impact tax reporting (both US Tax and Canadian Tax), as well as research on new securities, income from securities and new tax rules.

Questrade Inc. has multiple client tax reporting obligations to various tax regulators, including the Canada Revenue Agency (CRA), Ministre du Revenu du Qubec (MRQ) and the Internal Revenue Service (IRS). These obligations generally fall under these categories:

(1) Obtaining sufficient documentation from the client to identify their tax residency

(2) Classifying securities and income from those securities for tax reporting purposes, and

(3) Reporting appropriate tax information to Investors and regulators, including periodic remittance, issuing tax slips, and electronic filing, as applicable.

(4) Experience with US reporting for QIs 1099 and 1042S and 1042.

(5) Experience with Canadian investment reporting T5,T3,T5013, CRS and FATCA

This critical role involves in-depth research of evolving QI regulations throughout the year, ensuring their accurate implementation in year-end reporting, and possessing the expertise to identify and report U.S. source income on relevant IRS tax forms. The ideal candidate will be a self-starter with a strong understanding of U.S. tax regulations and excellent analytical skills. This role also performs &/or assists with operational processes that support the tax team in ensuring all regulatory obligations continue to be met.

Need more details? Keep reading...

In this role, responsibilities include but are not limited to:

• Perform periodic tasks as needed to comply with US & Canadian tax reporting regulations
• Review documentation on client accounts and determine appropriate tax residency
• Prepare/ coordinate payment requests for withholding tax remittance to regulators
• Reconciliations of income and withholding tax
• Respond to internal and external tax related queries
• Review and calculate withholding of manual transactions such as Hybrid/ Dual Source securities
• Review manual transactions such as 871(m), SEC 302/304, SEC 305C, Dividend with Options
• Review Stock Dividend, Spin-Off, and Merger transactions
• Continuously monitor and research changes to Qualified Intermediary (QI) regulations and guidance issued by the Internal Revenue Service (IRS).
• Assist with internal and external audits related to QI reporting.
• Participate in the preparation of client and regulatory tax reporting
• Review & enter provided tax factors for securities in the tax system
• Review & enter provided client &/or securities transactions in the tax system
• Review and verify information reporting on U.S. Investment slips 1099DIV, 1099INT, 1099MISC, 1042S Aggregate, 1042S Individual and Form 1042
• Review and verify information reporting on Canadian investment slips T5,T3,T5013, CRS and FATCA
• Track work completed and any errors found
• Identify and bring process improvement opportunities to the table
• Collaborate with other team members, or other departments on mini projects
• Research into new tax rules, and impact to Questrade (clients, systems, processes) as assigned
• Conduct gap analysis of Questrade's compliance with existing tax rules
• Participate in monthly securities research for tax reporting purposes
• Classify new securities to ensure tax information is represented on the correct tax slip
• Classify income (including deemed income) from securities to ensure appropriate withholding for US &/or CDN tax purposes, and to ensure reportable income is correctly represented on tax slip(s)
• Classify corporate actions to ensure appropriate withholding for US &/or CDN tax purposes, and to ensure reportable income is correctly represented on tax slip(s)
• Other ad hoc duties, and projects, as assigned

So are YOU our next Senior Analyst, U.S. Tax Reporting? You are if you...

• Have a post-secondary education, preferably in Finance, Economics, or related field
• Have successful completed tax courses, or working towards a CPA
• Have prior work experience (2 years+) in a Tax Reporting role, focussing on research and analysis of US & Canadian tax reporting rules
• Have prior work experience (2 years+) with Canadian &/or US client tax reporting
• Have prior work experience (2 years+) in an operational, continuous improvement or client service role, preferably within a financial services organization
• Have prior work experience with writing proposals on operational processes based on external research &/or internal gap analysis
• Have strong knowledge of client and/or securities taxation rules, understanding impact and operational processes
• Have Strong knowledge Canadian and/or US client tax reporting
• Have knowledge of types of securities, types of income from securities and types of corporate actions
• Have an overall understanding of the securities industry, and how an IIROC regulated brokerage operates
• Have experience with Qualified Intermediary obligations
• Have a high to intermediate/ Advanced knowledge of excel or google sheets
• Have the ability to build macros, and knowledge of coding languages is preferred
• Experience with Broadridge systems would be a nice to have

Additional kudos if you...

• Have the ability to build macros, and knowledge of coding languages
• Have experience with Broadridge systems

Additional Information...

• Please note this role will be required to be in office 3 days a week

Sounds like you? Click below to apply!

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At Questrade Financial Group of Companies, with multiple office locations around the world, we are committed to fostering a diverse, inclusive and accessible work environment. This is an environment where individuals are treated with dignity and respect. Here, the unique skills and experience you bring will be valued. You will be supported and motivated, so that you can harness your unlimited potential. Our team reflects the diversity of the communities we serve and operate in. Having a collaborative and diverse team helps us push boundaries to bring the future of fintech into existence-not only for the benefit of our customers, but for those who build their career with us.

Questrade Financial Group of companies Applicant Tracking System utilizes artificial intelligence (AI) for application screening. The AI system operates on predetermined criteria, with final decisions subject to human review.

Candidates selected for an interview will be contacted directly. If you require accommodation during the recruitment/selection process, please let us know and we will work with you to meet your needs.