Therefore, our valued customers will be requested to provide information and related papers to confirm the U.S. indicia and FATCA compliance status by NACB. After reconciling customers’ situation with the FATCA’s provisions, we will determine whether to report customers’ account at NACB to IRS. The information and related papers provided by customers are used for fulfillment of FATCA compliance requirements.
In case customers do not provide information/ responses as per NACB’s request or does not inform NACB of any change in circumstances that affects their FATCA status., NACB shall execute FATCA’s requirements applicable to recalcitrant accounts.
The information above is not intended in any way for it to be taken as legal or tax advice. Should you need legal advice, please refer to your legal adviser. Should you need tax advice, please refer to your tax adviser.
Please visit the Internal Revenue Service’s website at www.irs.gov
, or contact with NACB’s business units for further information and assistance.