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 regulations is the Foreign Account Tax Compliance Act (FATCA), effective as of 1 July 2014. This legislation administered by the United States government encourages better tax compliance by preventing US persons from using non-US financial organisations and foreign entities to avoid US taxation on their income and assets.
Impact to HSBC and our customers
HSBC is proud of our commitment to being fully FATCA-compliant in all countries 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. The impact on customers will depend on factors such as:
- the type of account you hold with HSBC,
- the type of policy agreement you have with HSBC,
- the countries where you or your business have a relationship with HSBC
Find out more about FATCA in your country
To find out more about FATCA in your country (including relevant tax forms and guidance), and how it affects you, please select the appropriate business line (and country, if relevant) from the navigation headings above.
Country pages will continue to be updated with the most recent information as it becomes available.
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 or local legislation and your tax position, please contact a professional tax advisor, as HSBC is unable to provide tax advice.
W form and Customer Guidance
Please click here for the IRS W formsLink opens in an overlay, including the instructions on how to complete them. In order to provide customers with further support when completing IRS W Forms, we have provided some additional customer guidance for W-9, W-8BEN and W-8BEN-E.
Global Intermediary Identification Numbers
HSBC has published its Global Intermediary Identification Numbers (HSBC GIINsLink opens in an overlay).
FFI Owner Reporting Statement
HSBC has produced the FFI Owner Reporting Statement which can be used by Owner-Documented FFIs and Entities Wholly Owned by Exempt Beneficial Owners.
(Last updated November 2014)
- Frequently asked questions and glossary documentDownload PDF: Link opens in a new window
- W-9 formDownload PDF: Link opens in a new window
- W-8BEN formDownload PDF: Link opens in a new window
- W-8BEN-E formDownload PDF: Link opens in a new window
- W-9 form customer guidanceDownload PDF: Link opens in a new window
- W-8BEN form customer guidanceDownload PDF: Link opens in a new window
- W-8BEN-E form customer guidanceDownload PDF: Link opens in a new window
- Withholding statementsDownload PDF: Link opens in a new window
- Withholding Statement Customer GuideDownload PDF: Link opens in a new page
- FFI Owner Reporting StatementDownload PDF: Link opens in a new window