Top of main content

FATCA overview

Retail Banking and Wealth Management – New Zealand

The Foreign Account Tax Compliance Act (FATCA) is a 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.

In New Zealand the principles of FATCA have been brought in to our local law. This means that HSBC may need to provide information on US accounts to the local tax authority, the Inland Revenue Department.

In order to establish your tax status, we may need to obtain certain documents from you. These documents are HSBC declarations and/or IRS forms that will enable you to declare and confirm your tax status to us for the purposes of FATCA.

Please send the completed documents to us at The Hongkong and Shanghai Banking Corporation Limited, P.O. Box 5947, Wellesley Street, Auckland 1411, New Zealand or hand them in at any one of our offices in New Zealand. For further general information on FATCA you can call us on 0800 80 23 80 toll free if calling from within New Zealand or +64 9 368 8557 if calling from overseas (international call charges will apply). Alternatively you can contact your HSBC New Zealand relationship manager.

For more detailed queries on FATCA and what it may mean for you, we advise you to consult a professional tax advisor as we are unable to provide you with specific tax advice.

Please read the information carefully and select the document that you need to confirm your tax status to us.

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 : 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.

HSBC Declaration (For Companies and Trusts only) : This is an HSBC document which you may be able to sign to confirm a tax status other than US tax status, in place of one of the US W-8 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).

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

(S3) 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.

Form S8 - Written Explanation for US Country of Birth : This is an HSBC document which you may be able to sign to provide a written explanation if you have advised HSBC that you place of birth is the US or a US territory, but you are not a US citizen.

(Page last updated March 2015)