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 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 or 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 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.
W-9 form: 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 forms: External site: Link opens in an overlay: 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.
Written Explanation of US Address (S3): 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.
(Page last updated September 2015)
- Frequently asked questions Download PDF: Link opens in a new window
- Glossary of FATCA TermsDownload PDF: Link opens in a new window
- Document GlossaryDownload PDF: Link opens in a new window
- Insurance FAQDownload PDF: Link opens in a new window
- Explanation of US Address (S3)Download 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-9 customer guidanceDownload PDF: Link opens in a new window
- W-8BEN customer guidanceDownload PDF: Link opens in a new window
- Explanation of US Country of BirthDownload PDF: Link opens in a new window