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FATWA and Additional KYC Form (Form to be used for Investors using OLD application forms which do not contain the new requirements for FATWA and KYC details. Individuals to additionally provide separate
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What is fatca and additional kyc?
FATCA stands for Foreign Account Tax Compliance Act and KYC stands for Know Your Customer. FATCA requires foreign financial institutions to report information about accounts held by US taxpayers, while additional KYC is additional information required to verify the identity of customers.
Who is required to file fatca and additional kyc?
Financial institutions and other entities that deal with foreign accounts or customers are required to file FATCA and additional KYC.
How to fill out fatca and additional kyc?
FATCA and additional KYC forms can typically be filled out online or by paper, depending on the institution. The forms generally require information about the account holder's identity, tax residence, and other relevant details.
What is the purpose of fatca and additional kyc?
The purpose of FATCA and additional KYC is to prevent tax evasion, money laundering, and terrorist financing by ensuring that financial institutions have accurate information about their customers.
What information must be reported on fatca and additional kyc?
Information such as the account holder's name, address, tax identification number, and account balance must be reported on FATCA and additional KYC forms.
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