FATCA Conditions

Under the Foreign Account Tax Compliance Act (FATCA), certain U.S. taxpayers holding financial assets outside the United States must report those assets to the IRS. FATCA also requires certain foreign financial institutions to report directly to the IRS information about financial accounts held by U.S. taxpayers or by foreign entities in which U.S. taxpayers hold a substantial ownership interest.

Is FATCA applicable to me?

Before opening an account at Bank One, please check if any of the conditions below are applicable to you:

  • I am a US citizen and/or resident.
  • I am born in the U.S. (U.S. Place of Birth).
  • I have a current US residence and/or mailing address.
  • I have a current US telephone number.
  • I have standing instructions to pay amounts from the account to an account maintained in the United States.
  • I have granted a current power of attorney or signatory authority to a person with a US address.
  • I maintain only a US “in-care-of” or “hold mail” address.
  • I receive payment of interest, dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, and other fixed or determinable annual or periodical gains, profits, and income from sources within the United States.
  • I receive gross proceeds from the sale or other disposition of any property of a type which can produce interest or dividends from sources within the United States.

For current and more in-depth information, please visit FATCA.

 

Last updated on :28 October, 2021