Top of main content

FATCA overview

Commercial Banking – Armenia

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 1 July 2014. This is a new piece of legislation by the United States Department of Treasury and the US Internal Revenue Service (IRS) to counter tax evasion in the US.

FATCA will affect many of HSBC’s personal and business customers. The degree to which customers will be affected will vary across the bank, depending on the type of account, policy or agreement they hold with HSBC.

Impact to HSBC and our customers

HSBC is proud of our commitment to becoming fully FATCA compliant in all countries where we operate. Other banks and financial organisations will also be affected. However their approach to adopting FATCA may differ to that of HSBC. We are currently reviewing the effect of the legislation for our customers in order to identify where we need to report information to the IRS.

In order to establish your tax status, we need to obtain certain documents. These documents are HSBC declarations and /or US tax forms that will enable you to declare and confirm your tax status to us for the purposes of FATCA. We also need your formation documents, for example certificate of incorporation or similar document confirming your place of incorporation.

Please hand the completed document to the team at any branch of HSBC Armenia. Should you have problems printing the form(s) you need, please contact your Relationship Manager or call at +374 (60) 655 000.

Please read the information carefully and select the document that is appropriate to your company.  If you are unsure, you should seek advice from a tax advisor. HSBC cannot provide tax advice.

We may be contacting you to request further information or documentation in order to verify your tax status under FATCA.

W-9: This is a link to the withholding certificate referred to as a ‘W9’ on the IRS website. This form is completed to confirm US tax status

W-8: This is a link to the withholding certificates referred to as a ‘W8s’ on the IRS website. This is a series of forms that are completed to confirm non US tax status

In order to provide customers with further support when completing IRS W Forms, we have provided some additional customer guidance for W-9 and W-8BEN-E.

Non Profit Declaration and additional notes: This is an HSBC form aimed at non-US Club, Societies, Associations, Charities or non-profit organisations to sign in place of one of the US W8 series tax forms. Please read the form carefully to ensure you meet the relevant conditions. If you are not satisfied that you meet the relevant conditions, then please alternatively select from the available US tax forms (W-forms).

Active Non Financial Foreign Entity Declaration and additional notes: This is an HSBC form aimed at non-US trading businesses and companies, in place of one of the US W8 series tax forms. Please read the form carefully to ensure you meet the relevant conditions. If you are not satisfied that you meet the relevant conditions, then please alternatively select from the available US tax forms (W-forms).

Please note that you may receive more than one request for information if you have multiple relationships with different members of the HSBC Group. Therefore, it is important that you respond to all requests, even if you believe you have already supplied the requested information.

(Page last updated March 2016)