There are a number of substantial changes being made by financial regulators, governments and banks to ensure the protection and long-term safety of both the financial system and our customers’ interests. One of these changes is the Foreign Account Tax Compliance Act (FATCA) effective from 1 July 2014.
HSBC is committed to being fully FATCA compliant in all countries and territories where we operate. Other banks and financial organisations are also affected, however their approach to adopting FATCA may differ to that of HSBC.
FATCA affects many of HSBC’s customers. We may be contacting you to request further information or documentation in order to verify your tax status under FATCA. Please note that you may receive more than one request for information if you have multiple relationships with different members of the HSBC Group. It is important that you respond to all requests for tax information even if you believe you have already supplied the requested information.
If you have any further queries regarding FATCA/ Local legislation and your tax position, please contact a tax advisor, as HSBC is unable to provide tax advice.
For further information about FATCA please visit http://fatca.hsbc.com/
