SIPP ISA Dealing Junior ISA Foreign Account Tax Compliance Act (FATCA) Entity Questionnaire This form must be completed by all new entities (customers who are not individuals) as part of our account opening process. We will use the information provided in this form to determine if you are a reportable entity under The International Tax Compliance (USA) Regulations 2013 and The International Compliance (Crown Dependencies & Gibraltar) Regulations 2014. AJ Bell cannot determine your FATCA status for you or provide you with any advice on this. We have provided some references for guidance in appendix 1 at the end of this form. If you are in any doubt about your FATCA status you should obtain advice from a suitably qualified tax specialist. 1 Entity name 2 What is your FATCA status? I am/will be a participating financial institution. Go to section 3 I am/will be a non-participating financial institution. Go to section 7 I am not a financial institution. Go to section 8 I do not know my FATCA status. Go to appendix 1 3 Reporting financial institutions Tick one box only from section 3, provide your Global Intermediary Identification Number (GIIN) where known, and then complete the declaration in section 14 OR move to section 4 if the options below are not applicable. I am a UK financial institution with a GIIN. GIIN I am a UK financial institution and will register to obtain a GIIN. I am a financial institution in a partner jurisdiction with a GIIN. GIIN
I am a financial institution in a partner jurisdiction and will register to obtain a GIIN. I am a US financial institution. (Please provide your tax identification number.) I am a non-us financial institution with a GIIN. TIN GIIN I do not fall into any HMRC FATCA defined category which would cause me to be considered as a UK financial institution for FATCA purposes. I am a non-us financial institution and will register to obtain a GIIN. I do not fall into any HMRC FATCA defined category which would cause me to be considered as a UK financial institution for FATCA purposes. 4 Non-reporting financial institutions Tick one box only from section 4 and then complete the declaration in section 14 OR move to section 5 if the options below are not applicable. I am an exempt beneficial owner identified as such in Annex II of the UK-US Agreement in section 1.D Retirement Funds. I am an exempt beneficial owner identified as such in Annex II of the UK-US Agreement in sections 1.A,B,C. 5 Deemed compliant financial institutions Tick one box only from section 5 and then complete the declaration in section 14 OR move to section 6 if the options below are not applicable. I am a charitable organisation identified as such in Annex II of the UK-US Agreement section II A charitable organisations. I am a financial institution with a local client base identified as such in Annex II of the UK-US Agreement section II B financial institutions with a local client base. I am a collective investment vehicle identified as such in Annex II of the UK-US Agreement Section II C certain collective investment vehicles. I am a trustee-documented trust identified as such in Annex II of the UK-US Agreement Section II D trustee documented trusts. 2
6 Certified deemed compliant financial institutions Tick the box in section 6, confirm the category/type and then complete the declaration in section 14. I am a certified deemed compliant financial institution (examples of which can be found in The International Tax Compliance (USA) Regulations 2013). Please state which category/type. 7 Non-participating financial institutions Tick all three boxes in section 7 and then complete the declaration in section 14. I am a financial institution without a GIIN number and WILL NOT be registering to obtain a GIIN. I understand that I may be taxed at the maximum rate applicable to the relevant jurisdiction. I understand that my details may be reported to HMRC. 8 Non-financial entities Tick the box in section 8, then move to section 9. I am NOT a financial institution for the purposes of FATCA as defined by HMRC. I do not fall into the HMRC defined categories of: i) Depository Institution ii) Custodian Institution iii) Investment Entity iv) Specified Insurance Company v) Holding Companies and Treasury Centre of Financial Groups 9 Non-financial US entities Tick the box in section 9 and then complete the declaration in section 14 OR move to section 10 if this option is not applicable. I am a US entity (please provide tax identification number). TIN 3
10 Non-financial foreign (non-us) entities (Active NFFE part 1) Tick one box in section 10 and then complete the declaration in section 14. We will classify you as an Active NFFE for both The International Tax Compliance (USA) Regulations 2013 and The International Compliance (Crown Dependencies & Gibraltar) Regulations 2014. Alternatively, move to section 11 if the options below are not applicable. Less than 50 per cent of the NFFE s gross income for the preceding calendar year or other appropriate reporting period is passive income and less than 50 per cent of the assets held by the NFFE during the preceding calendar year or other appropriate reporting period are assets that produce or are held for the production of passive income. The stock of the NFFE is regularly traded on an established securities market or the NFFE is a related entity of an entity, the stock of which is traded on an established securities market. Substantially all of the activities of the NFFE consist of holding (in whole or in part) the outstanding stock of, or providing financing and services to, one or more subsidiaries that engage in trades or businesses other than the business of a financial institution. However, the entity will not qualify as an Active NFFE if it functions as (or holds itself out to be) an investment fund, such as a private equity fund, venture capital fund, leveraged buyout fund or any investment vehicle whose purpose is to acquire or fund companies and then hold interests in those companies as capital assets for investment purposes. The NFFE is not yet operating a business and has no prior operating history, but is investing capital into assets with the intent to operate a business other than that of a financial institution; provided that the NFFE shall not qualify for this exception after the date that is 24 months after the date of the initial organisation of the NFFE. The NFFE was not a financial institution in the past five years, and is in the process of liquidating its assets, or is reorganising with the intent to continue or recommence operations in a business other than that of a financial institution. The NFFE primarily engages in financing and hedging transactions with, or for related entities that are not financial institutions, and does not provide financing or hedging services to any entity that is not a related entity, provided that the group of any such related entities is primarily engaged in a business other than that of a financial institution. The NFFE is an Excepted NFFE (excluding direct reporting NFFEs and sponsored direct reporting NFFEs) as described in relevant US Treasury Regulations. 4
11 Non-financial foreign (non-us) entities (Active NFFE part 2) Tick one box in section 11 and then complete the declaration in section 14. We will classify you as an Active NFFE for The International Tax Compliance (USA) Regulations 2013 and a Passive NFFE for The International Compliance (Crown Dependencies & Gibraltar) Regulations 2014. Alternatively, move to section 12 if the options below are not applicable. The NFFE is organised in a US territory and all of the owners of the payee are bona fide residents of that US territory. The definition of US territory is set out at Article 1 (1) (b) of the agreement. The NFFE is a non-us government, a political subdivision of such non-us government (which, for the avoidance of doubt, includes a state, province, county, or municipality), or a public body performing a function of such non-us government or a political subdivision thereof, a government of a US territory, an international organisation, a non-us central bank of issue, or an entity wholly owned by one or more of the foregoing. The NFFE is established and operated in its jurisdiction of residence exclusively for religious, charitable, scientific, artistic, cultural, athletic, or educational purposes; or it is established and operated in its jurisdiction of residence and it is a professional organisation, business league, chamber of commerce, labour organisation, agricultural or horticultural organisation, civic league or an organisation operated exclusively for the promotion of social welfare; AND It is exempt from Income Tax in its country of residence; AND It has no shareholders or members who have a proprietary or beneficial interest in its income or assets; AND The applicable laws of the entity s country of residence or the entity s formation documents do not permit any income or assets of the entity to be distributed to, or applied for the benefit of, a private person or non-charitable entity other than pursuant to the conduct of the entity s charitable activities, or as payment of reasonable compensation for services rendered, or as payment representing the fair market value of property which the entity has purchased; AND The applicable laws of the entity s country of residence or the entity s formation documents require that, upon the entity s liquidation or dissolution, all of its assets be distributed to a governmental entity or other non-profit organisation, or escheat to the government of the entity s country of residence or any political subdivision thereof. 5
12 Non-financial foreign (non-us) entities (Active NFFE part 3) Tick the box in section 12 and then complete the declaration in section 14. We will classify you as a Passive NFFE for The International Tax Compliance (USA) Regulations 2013 and an Active NFFE for The International Compliance (Crown Dependencies & Gibraltar) Regulations 2014. Alternatively, move to section 13 if the option below is not applicable. The NFFE is any government, a political subdivision of such government (which, for the avoidance of doubt, includes a state, province, county, or municipality), or a public body performing a function of such government or a political subdivision thereof, a government of a territory, an international organisation, a central bank of issue, or an entity wholly owned by one or more of the foregoing. 13 Non-financial foreign entities (Passive NFFE) Tick the box in section 13 and then complete the declaration in section 14. I am NOT an ACTIVE NFFE. By default I am a PASSIVE NFFE. 14 AJ Bell Youinvest client declaration I certify that the information provided in this form is to the best of my knowledge and belief true, correct, complete and not misleading. I confirm that I am authorised to sign on behalf of the entity stated in section 1. I understand that you will use the information provided in this form to determine if the entity named in section 1 is a reportable entity under The International Tax Compliance (USA) Regulations 2013 and The International Compliance (Crown Dependencies & Gibraltar) Regulations 2014. I understand that information provided independently about controlling persons, trustees or beneficiaries of the entity stated in section 1, may be used to report to HMRC under The International Tax Compliance (USA) Regulations 2013 and The International Compliance (Crown Dependencies & Gibraltar) Regulations 2014. Print name Date Signed Capacity AJ Bell includes AJ Bell Holdings Limited and its wholly owned subsidiaries. AJ Bell Management Limited and AJ Bell Securities Limited are authorised and regulated by the Financial Conduct Authority. All companies are registered in England and Wales at Trafford House, Chester Road, Manchester M32 0RS AJBYI/FATCA-EQ/06/14
Appendix 1 The following UK regulations will help you to determine your FATCA status: The International Tax Compliance (USA) Regulations 2013 The International Tax Compliance (Crown Dependencies & Gibraltar) Regulations 2014 The section below is provided only as a guide to other sources of information that may assist you in determining your FATCA status. Please remember that AJ Bell cannot determine your FATCA classification for you, nor can we offer any advice as to what it might be. If you are in any doubt about your FATCA status, you should seek advice from a suitably qualified tax specialist. 1 FATCA guidance notes can be found on the HMRC website http://www.hmrc.gov.uk/fatca/index.htm They should be read by businesses and their advisers and they apply to: UK financial institutions UK entities that will need to certify their classification for FATCA Entities that undertake FATCA obligations on behalf of financial institutions 2 Information regarding potential FATCA classifications can be found in section 2 of the guidance notes for The International Tax Compliance (USA) Regulations 2013. 3 In determining your classification you should consider: Whether you should be classified as a financial institution and Whether you maintain financial accounts. 4 Section 2 of the guidance notes for The International Tax Compliance (USA) Regulations 2013 provides details for the following types of entities (amongst others): UK financial institutions Non-financial entities Exempt beneficial owners Investment advisers & investment managers Trusts Partnerships Investment trust companies Venture capital trusts Local client base financial institutions Retirement funds Charities 5 The International Tax Compliance (Crown Dependencies & Gibraltar) Regulations 2014 generally provide detail on where the regulations for Crown Dependencies & Gibraltar differ from those for the USA. 6 Section 2 of the guidance notes for The International Tax Compliance (Crown Dependencies & Gibraltar) Regulations 2014 provides additional details regarding FATCA classification.