1. FATCA
The Foreign Account Tax Compliance Act (FATCA) is US legislation aimed at combating tax evasion relating to US tax persons, implemented also through intergovernmental agreements and identification and reporting obligations on financial institutions.
2. Common Reporting Standard (CRS)
The Common Reporting Standard, promoted by the OECD and implemented in the European Union, provides for the automatic exchange of information on financial accounts between the tax authorities of participating jurisdictions.
3. Tax residence
For FATCA and CRS purposes it is necessary to determine the jurisdiction or jurisdictions of tax residence of the Client and of any beneficial owners.
4. Tax Identification Number (TIN)
The Tax Identification Number for each relevant jurisdiction of tax residence may be required.
5. Self-certification
The Client may be required to provide a self-certification of tax status and to notify promptly any change that affects its validity.
6. Client obligations
The Client is responsible for the accuracy and updating of the tax information provided. Incomplete or outdated information may result in operational restrictions or reporting obligations.
7. Reporting to authorities
Where required by law and applicable agreements, information on reportable accounts may be transmitted to the competent tax authority, which may in turn exchange it with foreign authorities. [APPLICABILITY AND SPECIFIC ARRANGEMENTS FOR ASTEO — TO BE CONFIRMED. DO NOT STATE OBLIGATIONS THAT HAVE NOT BEEN VERIFIED.]
Questions on this document?
Write to our Compliance function at compliance@asteo.eu or to our Data Protection Officer at dpo@asteo.eu. Postal correspondence: ASTEO LUXEMBOURG S.A., 120 Boulevard de la Pétrusse, L-2330 Luxembourg, Grand Duchy of Luxembourg.
This document is provided for information purposes and constitutes a professional draft pending validation by ASTEO's Legal and Compliance function. In the event of any discrepancy between language versions, the English version prevails unless mandatory local law requires otherwise.
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