Glossary – Mexico – Retail Banking and Wealth Management

FATCA stands for the Foreign Account Tax Compliance Act.

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

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-8BEN). The W-8BEN form is valid for three years.

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

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