This classification helps determine the extent of their reporting requirements and the penalties for non-compliance. In this essay, we will discuss the various categories of FFIs under FATCA and the requirements
Reinforces which financial entities are required to exchange information and provides guidelines for the submission of information May 13, 2024 News Singapore: FATCA and CRS returns due by 31 May 2024; updated CRS self-review tool Tool can be used by to determine CRS entity classification and che...
I am/We are not a financial institution (see notes) 3. Less than half of my/our gross income for the last calendar year is passive income (see notes) 4. Less than half of my/our assets are assets that produce or are held for the production of passive income (calculated as a ...
HSBC is not able to provide tax advice in respect of this process or for FATCA classification purposes. Who do we need to report under FATCA? We are required to report certain information on accounts held by Specified US Persons. This includes accounts held by U.S. citizens and U.S. ...
To determine your FATCA status or classification, you may need to refer to your tax advisor or visit U.S Inland Revenue Service (IRS) website at www.irs.gov/FATCA for further details. Please take note that RHB is not in the position to advice you on your tax status or classification. ...
主动的非金融外国实体,Active Non-Financial Foreign Entity,一般是指属于主动经营式但非从事金融业务的实体。根据FATCA,如符合以下条件,银行无须就主动的非金融外国实体或其股东申报数据, • 该实体并非美国人士(请参阅以下美国人士的定义) • 该实体并非金融机构。详情请参阅“根据FATCA何谓金融机构”章节 • ...
Business entities, other than per se foreign corporations, may elect to be classified in a manner different from their default classification (a disregarded entity, a partnership or a corporation) by filing a check-the-box election on Form 8832 with the IRS. If such an election has been made...
Please tick one of the following boxes below (Refer to Appendix II for definition of each classification). 財務機構 Financial Institution 託管機構,存款機構或指明保險公司 Custodial Institution, Depository Institution or Specified Insurance Company 投資實體,但不包括由另一財務機構管理(例如:擁有酌情權管理...
□ Territory financial institution, FATCA Status 美國屬地金融機構(Territory Financial Institutions),FATCA 身分別為 □ U.S. Financial Institutions, FATCA Status , TIN 美國金融機構(U.S. Financial Institutions),FATCA 身分別為 ,TIN(如適 用) 非金融機構 □ Foreign government, government of a ...
and economically identifying the FATCA classification and compliance documentation for offshore trusts and entities. He has worked with FATCA clients in Australia, the British Virgin Islands, Canada, the Cayman Islands, the Cook Islands, the Netherlands, St. Kitts/Nevis, Panama, and Switzerland. He...