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Glossary of FATCA terms

Commercial Banking – Mexico


FATCA stands for the Foreign Account Tax Compliance Act.

US indicia

US indicia are elements that help identify certain characteristics of customers, used to determine if they are US persons.

W9 and W8 series

These are US tax forms that allow an account holder to declare their status as a US person (W-9) or a non-US person (W-* forms). The W-8 forms are valid for three years.

Inter-governmental agreement (IGA)

An IGA is an agreement between the US and specific countries and territories to build FATCA compliance into the country’s and territory’s legal framework.

Internal Revenue Service (IRS)

The IRS is the United States government agency responsible for tax collection and tax law enforcement.

(Page last updated August 2018)