Foreign Account Tax Compliance Act | NatWest International

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Foreign Account Tax Compliance Act

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.

Please note

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.

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Common questions

Need help with the Tax Status Declaration Form?

If you've received a Tax Status Declaration Form and you need help completing it, we recommend you contact a professional and independent tax advisor. The Operational Tax Team doesn’t provide tax advice.

Will I be affected?

NatWest International is required to identify and report 'US person' for US tax purposes.

 

The term 'US person' includes, but isn't limited to, the following:

 

  • A citizen of the US, including any person born in the US but living in another country (who has retained their US citizenship).
  • A person living in the US, including US Green Card holders.
  • Certain people who spend a significant number of days in the US each year.*
  • US corporations, US partnerships, US estates and US trusts.

* To better understand what is meant by 'certain' people and 'significant' number, please refer to our Glossary.

What does being a 'US person' mean for me?

Rest assured that being classified a 'US person' will not affect your day-to-day banking service, but will help us identify customers whose account details may need to be shared with their local tax authority. If you're identified as a 'US person', we'll write to you for self-certification.

 

If you're an existing NatWest International customer, you may need to provide specific documentation, so we can apply the right FATCA classification to your accounts. If you are classified as a 'US person', we will be required to report information about you and your accounts to your local tax authority, every year.

 

Please note that NatWest International cannot offer any tax advice about FATCA, and we recommend you contact a professional and independent tax advisor to discuss your personal tax situation.

What does being a 'non-US person' mean for me?

FATCA will have minimal impact on most customers, who won't need to take any action. However, NatWest International may still contact you to confirm your status as a 'non-US person'.

What does being a 'US person' mean for my entity?

If your entity is classified as a 'US tax person' for tax purposes, we must pass on details of the entity's account(s) to the relevant tax authority.

Where can I get more information?

For more information about FATCA please visit the IRS website.

How to contact us

We are here to help, however please be aware that NatWest International can't offer any tax advice. We recommend you contact a professional and independent tax advisor to discuss your personal tax situation.

Contact us
How to contact us

We are here to help, however please be aware that NatWest International can't offer any tax advice. We recommend you contact a professional and independent tax advisor to discuss your personal tax situation.

If you have any queries please contact your Relationship Manager on their dedicated number otherwise call Telephone Banking on:

 

Jersey

01534 282850

From abroad: +44 1534 282850

Guernsey

01481 703860

From abroad: +44 1481 703860

Isle of Man

01624 637190

From abroad: +44 1624 637190

Gibraltar

200 77737 or 200 73200

From abroad: 00350 200 77737 or 00350 200 73200

 

Lines open Monday to Friday 7am - 7pm, Saturday 8am - 1pm, Sunday closed.

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