Is FATCA applicable to individuals and legal entities?
Yes, the FATCA legislation will impact both individuals and legal entities which have any US indicia (see glossary).
What does FATCA mean for me if I am a US person?
If you are considered a US person, you may be asked to supply HSBC with additional information or documentation.
HSBC cannot offer any advice relating to FATCA and we recommend you contact a tax advisor to discuss your particular situation.
What does FATCA mean for me if I am not a US person?
For most customers, FATCA will have minimal impact, and there will be no action required.
However, HSBC may still contact you to confirm your status.
Are joint accounts are subject to FATCA?
Only joint accounts that have at least one US owner.
How frequently will I have to provide information for FATCA purposes?
If your account information changes, we may be required to contact you to obtain additional information.
How does FATCA apply to me if I am a sole proprietor/sole trader?
You will be treated in the same way as an individual.