Automatic Exchange of Information
Foreign Account Tax Compliance Act
We recommend you contact a professional and independent tax adviser to discuss your personal tax situation, help you understand the international regulations and ensure you comply with them. We can't help you decide your tax status or guide you with filling in forms, as NatWest International does not offer tax advice, we can however offer guidance on the terms in the forms.
What is FATCA?
The Foreign Account Tax Compliance Act (FATCA) is United States legislation passed in March 2010. It requires non-US financial institutions to provide reports to the US regarding their customers who are 'US persons' for US tax purposes and who hold accounts with the financial institution. US financial institutions will also have separate reporting obligations.
Our local government and the US Governments have entered into a reciprocal agreement, under which NatWest International will report US customers to the local tax authority and not directly to the US IRS. The local tax authority is responsible for sharing this information with the IRS and the bank will play no part in this process.