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FATCA overview

Commercial Banking – Vietnam

The Foreign Account Tax Compliance Act (FATCA) 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. HSBC is committed to becoming fully FATCA-compliant in all countries where we operate in accordance with the legislative timeline. This means that HSBC may need to provide information on US accounts to the US Tax authority, the Internal Revenue Service (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 send the completed document to the Relationship Manager/Client Service Manager who handles your accounts with the Bank; or hand them in to the team at your local branch. Should you have problems printing the form(s) you need, please contact your local branch.

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 adviser. HSBC will not be able to provide any tax advice.

W-9: This is the withholding certificate referred to as a ‘W-9’ 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 ‘W-8s’ 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-9W-8BEN and W8BEN-E.

HSBC Declaration (180KB, PDF): This is an HSBC document which you may be able to sign instead of a US W-8 series form to confirm non-US tax status. Please read the form carefully to ensure you meet the relevant conditions. If you believe that you do not meet the relevant conditions, please do not use this declaration and instead use the relevant W-8 series form or W-9 form. Please note this form is not applicable for Disregarded Entities.