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Fatca declaration for company?

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  1. #1

    Join Date
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    Fatca declaration for company?

    I've received a couple of letters from HSBC asking my company to fill in some FATCA forms or whatever. I've ignored them since almost a year now, but they keep sending them. Seems they are pretty serious about it

    Our company has no relationship with US anything, no business, no income, no US citizens or GC holders etc. Can I keep ignoring HSBC? I don't see why I should fill in some US paperwork.

    Thanks a bunch.


  2. #2

    Join Date
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    Do you receive USD payments (regardless of where they originate from)?

    Strange ...


  3. #3

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    I keep getting hassled by UK banks for similar things. I keep ignoring, they keep threatening to report my income to uncle sam.
    *shrug*
    I'm shaking in my boots


  4. #4

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    Quote Originally Posted by shri:
    Do you receive USD payments (regardless of where they originate from)?
    Strange ...
    Nothing to do with USD payments.
    This is the way its been explained to me :
    Some/Many banks in Europe have made deals with uncle sam for voluntary reporting and in return they get easier treatment.
    They report anything and everything unless you (the customer) proves that you are not USA citizen and you are not deemed USA person for tax purposes.

    I asked "so what happens if you report my income and I dont even live there", the answer was "We dont know".

    So I ignored them and continue to do so...

  5. #5

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    I would not ignore for company accounts.

    Getting harder and harder to just open simple corporate accounts and you really do not want a bank to shut down your account.

    Smile and bend over.

    Personal accounts .. not an issue. Corp accounts - not worth ignoring.


  6. #6

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    I also gave up trying to explain that there is no reason for us to fill out the form.
    Filled it out and hope to have them off my back now.

    The thought that they are looking to expand their compliance department even more is scary!


  7. #7

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    Thanks Shri, that is a valid point. It would be a much biger trouble to open the account again. I'll fill it out then.
    We don't get anything in USD on the account, it's probably just HSBC being the usual PITA.

    shri likes this.

  8. #8

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    my understanding is the bank will close your account sooner or later if you dont return the facta forms.

    Last edited by dumbdonkey; 19-01-2016 at 06:54 PM.

  9. #9

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    Quote Originally Posted by shri:
    I would not ignore for company accounts.
    No one has yet to hassle me for my company accounts. Its just my personal accounts that used to be RBC and they got taken over by
    NatWest. Nat West is doing some kind of diligence on them and hassled me a few times until I told them to go ahead and report everything to USA.
    Not a peep out of them since.

  10. #10

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    Heard from another GeoExpat member that they received a similar request for their company account, from HSBC.

    HowardCoombs likes this.

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