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FATCA overview

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). This is a new law introduced by the United States Department of Treasury and the US Internal Revenue Service (IRS) designed to encourage better tax compliance by preventing US persons from using banks and other financial organisations to avoid US taxation on their income and assets.

Jersey, Guernsey and the Isle of Man have all committed to implement FATCA, so all banks affected are obliged to obtain certain information about customers who may be considered as US persons and report relevant information to the US via their local tax authority.

FATCA will affect both HSBC's personal and business customers.

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 local tax authority. 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 relationships with more than one member 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.

International Banking customers

If you are a HSBC Expat customer or a HSBC Funds Nominee Jersey customer please visit our HSBC Expat website.

Additional Information

W-9: This is a US tax form referred to as a 'W-9' on the IRS website. This form is completed to confirm a US tax status and to provide certain details such as a US Tax Information Number (TIN).

W-8: This is a link to the US tax forms referred to as a 'W-8s' on the IRS website. This is a series of forms that can be 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.

Written Explanation of US Address. This is an HSBC document which you may be able to sign to provide a written explanation for any US address or US territory address found on your account.

(Last updated July 2015)