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FATCA / CRS DECLARATION FOR INDIVIDUAL ACCOUNTS (Including Sole Proprietor) Note The information in this section is being collected because of enhancements to Kotak Mahindra Bank 's new account onboarding.

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Directly hold foreign currency: If you have foreign currency that isn't held in a financial account, then it isn't reportable under the terms of FATCA. This means that you are in personal possession of the foreign currency…so whatever you keep in your wallet, your safe, or under your mattress.

The CRS & FATCA Self-certification form will ask you to confirm the following: Your full name. Your date of birth. Your country, town/city of birth. Your citizenship. Your current residence, and if applicable, mailing address. Whether you are a US Person. Your country/countries of residence for tax purposes.

The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, generally requires that foreign financial Institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on withholdable payments.

Reporting Thresholds If you are single or file separately from your spouse, you must submit a Form 8938 if you have more than $200,000 of specified foreign financial assets at the end of the year and you live abroad; or more than $50,000, if you live in the United States.

Trusts of land Trusts holding UK land are UK resident and subject to UK IGA reporting and determination of status under FATCA.

FATCA applies to all subjects identified as U.S. person. All U.S. citizens are U.S. person by default, but a non-U.S.-citizen can be eligible as U.S. person for tax purposes, for example, Green Card holders and corporations under certain criteria.

FATCA applies to individual citizens, residents, and non-resident aliens. Residents and entities in U.S. territories must file FBARs but don't need to file FATCA forms.

While you must report your bank accounts and other foreign assets, the thresholds are much higher. You must file FATCA if your assets exceed the following values: Single taxpayers living abroad: $200,000 on the last day of the tax year or $300,000 at any point during the year.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232