IEIM402844 - Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Telephone Number in Reportable Jurisdiction

Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Telephone Number in Reportable Jurisdiction

The telephone number(s) in a Reportable Jurisdiction is only required to be treated as an indicium of residence where that number is current, that is, it is the most recent telephone number(s) held by the Financial Institution for that Account Holder.

If two or more telephone numbers are held, any that relate to a service provider of the Account Holder such as a lawyer, accountant or financial adviser, etc., is not an indicium of residence of the Account Holder.

In the case of any number that is known not to relate to a telephone, for example a permanent fax number, the number should not be treated as indicia of residence. However if there is any doubt over the function, or the number has a combined function at least one of which is as a phone number, the number should be treated as indicia of residence if it is a Reportable Jurisdiction number.

FATCA

Where the indicia found is one or more US telephone numbers associated with the account, it must be reported unless the UK Financial Institution obtains or currently maintains a record of the following:

If all the telephone numbers associated with the account are US telephone numbers:

• a self-certification that the account holder is neither a US citizen nor a US resident for tax purposes; and

• a form of acceptable documentary evidence which establishes the Account Holder’s non-US status. [see IEIM402760]

If there are both US and non-US telephone numbers associated with the account:

• a self-certification that the account holder is neither a US citizen nor a US resident for tax purposes; or

• a form of acceptable documentary evidence which establishes the account holder’s non-US status. [see IEIM402760]

Where there is uncertainty whether a phone number is US a Financial Institution should take reasonable steps (in accordance with the relevant due diligence requirements for the type of account) to establish whether or not it is a US phone number. It should not then be treated as a US phone number if its status remains uncertain.

In the case of any number that is known not to relate to a telephone, for example a permanent fax number, the number should not be treated as a US indicia. However if there is any doubt over the function, or the number has a combined function at least one of which is as a phone number, the number should be treated as US indicia if it is a US number.