IEIM400520 - FATCA reporting

FATCA Reporting

The table below sets out the information that is to be reported to HMRC for each reporting year in respect of the Intergovernmental Agreement between the UK and the USA. Reporting is required to HMRC by 31 May next following the reporting year for which the information is required.

Reporting year to 31 December 2016 onwards

In respect of each specified US person either:

holding a Reportable Account, or

as a Controlling Person of an entity account.

Information to be reported:

  • Name
  • Address
  • US Tax Identification Number
  • Account number or functional equivalent.
  • Name and identifying number of Reporting Financial Institution.
  • Account balance or value.

In respect of:

Custodial Accounts

Information to be reported:

  • Total gross amount of interest.
  • Total gross amount of dividends.
  • Total gross amount of other income paid or credited to the account.
  • The total gross proceeds from the sale or redemption of property paid or credited to the account

In respect of:

Despository Accounts

Information to be reported:

  • The total amount of gross interest paid or credited to the account in the calendar year or other reporting period.

In respect of:

Other Accounts

Information to be reported:

  • The total gross amount paid or credited to the account including the aggregate amount of redemption payments made to the Account Holder during the calendar year or other appropriate reporting period.