Nitin Shetty
Manager
Mumbai
Summary
Seasoned tax professional with over 12 years of experience in financial services and U.S. tax compliance ,expertise in process management, reconciliation, vendor oversight, and regulatory reporting, with a focus on IRS Forms (1042-S, W-8, W-9), FATCA compliance, and tax system testing. Proven ability to lead cross-functional initiatives, resolve complex tax issues, and mentor teams to uphold high compliance standards. As a seasoned professional, I provide valuable mentorship and ensure compliance with tax regulations while maintaining strong internal and client relationships
Overview
13
13
years of professional experience
4
4
Languages
Work History
Manager
Citigroup
02.2020 - Current
- Lead end-to-end IRS Form 1042-S reporting for Custody clients across APAC markets, including data reconciliation, adjustments, and e-filing through the FIRE system.
- Manage tax documentation (W-8/W-9) vendor oversight, perform QC checks, resolve exceptions, and ensure compliance with IRS guidelines and internal procedures.
- Oversee PTP compliance (IRC Sec. 1446(a)/(f)), including Qualified Notices and partnership income reporting.
- Coordinate with upstream agents for payment validation, escalate withholding discrepancies, and implement corrective actions.
- Liaise with intermediaries (QI/NQI) to review withholding statements and beneficial ownership for accurate treaty benefit application (DTAA, LOB).
- Support system testing, raise defects, and contribute to enhancement projects with Technology teams.
- Conduct FATCA due diligence (US Indicia, CIC), ensure proper classification and documentation.
- Serve as SME on U.S. tax regulations, train new hires, and participate in cross-functional initiatives.
- Maintain client and stakeholder relationships, address complex tax queries, and support audit, legal, and compliance efforts.
- Received multiple internal awards for client onboarding and successful project implementation.
Team Lead
JP Morgan & Chase
12.2017 - 02.2020
- Reviewed and validated W-8/W-9 forms (W-8BEN-E, W-8IMY, W-8EXP, etc.) and assessed FATCA/CRS status per IGA and non-IGA models.
- Supported FATCA/CRS onboarding due diligence for multiple jurisdictions and facilitated documentation-related client communications.
- Ensured compliance with internal policies and participated in system/process improvement initiatives.
- Handled client reporting under Extended Service Models and engaged in FATCA/CRS-related remediation projects.
Senior Analyst
Wipro
04.2016 - 12.2017
- Applied tax rates based on NTPA, MiFID, and REIT documentation to determine withholding tax for global securities.
- Liaised with custodians and counterparties for dividend reclaims, reconciliations, and variance resolution.
- Delivered commentary and reports to trading desks and senior management.
Senior Analyst
State Street Syntel Services Private Ltd
05.2012 - 03.2016
- Reconciled ledger/sub-ledger accounts, conducted variance analysis, and ensured timely resolution of breaks.
- Managed month-end reporting, liaised with brokers/custodians, and supported financial audit requirements.
- Successfully led process migration from Paris to India.
Education
Bachelor Of Banking & Insurance (BBI) - Banking And Finance
VPM’s College
Mumbai04.2012
Bachelor Of Commerce - Banking And Finance
VPM’s College
Mumbai02.2009
Navodaya English High School
Mumbai05.2007
Skills
- US Tax Forms: W-8, W-9, 1042-S
- FATCA Compliance
- IRS Chapter 3 & 4 Regulations
- Tax Reconciliation & Reporting
- Vendor & Client Management
- PTP Compliance (Sec 1446)
- Tax System Testing & Issue Resolution
- Documentation Quality Control
- Microsoft Excel, Word, Outlook
- Communication & Stakeholder Coordination
Accomplishments
- Led successful migration of OTC and reference data processes from Paris to India (2015)
- Received “Stretch” & “Synergy” awards at State Street Syntel
- Recognized with “Performance Award” at J.P. Morgan during high-volume tax period
Honored with “Leadership Recognition,” “Silver,” and “Bronze” awards at Citi for client success and project delivery
Timeline
Manager
Citigroup
02.2020 - Current
Team Lead
JP Morgan & Chase
12.2017 - 02.2020
Senior Analyst
Wipro
04.2016 - 12.2017
Senior Analyst
State Street Syntel Services Private Ltd
05.2012 - 03.2016
Bachelor Of Banking & Insurance (BBI) - Banking And Finance
VPM’s College
Bachelor Of Commerce - Banking And Finance
VPM’s College
Navodaya English High School
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