Foreign Account Tax Compliance Act (FATCA) compliance
GPTKB entity
Statements (28)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
regulatory compliance process
|
| gptkbp:appliesTo |
financial institutions
foreign financial institutions U.S. taxpayers with foreign financial assets |
| gptkbp:enforcedBy |
gptkb:Internal_Revenue_Service
|
| https://www.w3.org/2000/01/rdf-schema#label |
Foreign Account Tax Compliance Act (FATCA) compliance
|
| gptkbp:involves |
annual reporting
due diligence procedures customer onboarding processes intergovernmental agreements (IGAs) reporting of substantial U.S. owners of entities self-certification forms |
| gptkbp:nonCompliancePenalty |
30% withholding tax on certain U.S. source payments
|
| gptkbp:relatedTo |
gptkb:Common_Reporting_Standard_(CRS)
gptkb:Foreign_Account_Tax_Compliance_Act anti-money laundering compliance |
| gptkbp:requires |
gptkb:Form_8966_filing
obtaining Global Intermediary Identification Number (GIIN) withholding on non-participating financial institutions Form W-8BEN-E collection Form W-9 collection identification of U.S. account holders identification of recalcitrant account holders registration with IRS reporting of account information to IRS |
| gptkbp:startDate |
2014
|
| gptkbp:bfsParent |
gptkb:Australian_Taxation_Office
|
| gptkbp:bfsLayer |
5
|