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FATCA

FATCA - Foreign Account Tax Compliance Act

FATCA is the acronym of Foreign Account Tax Compliance Act, a U.S. legislation whose aim is to avoid tax fraud by taxpayers in the U.S. (hereafter, “U.S. persons”) on income obtained outside its frontiers. The legislation is worldwide in scope and came into force on 1 January 2013.

On 14th May 2013 Spain signed an Intergovernmental Agreement (IGA) with the United States to facilitate the introduction of FATCA in Spain. Under this agreement all financial institutions are required to send information to the Spanish Tax Agency on certain US citizens or residents, certain US companies, as well as certain Spanish companies which have US citizens or residents owning >25% of shareholding structure.

The entities of Group Banco de Sabadell undertake to cooperate with ensuring compliance with FATCA regulations, and they have registered as participating FATCA financial entities with the IRS (Internal Revenue Service), federal agency of the Government of the United States, which is responsible for tax collection and ensuring compliance with tax law.
 

Frequently asked questions FATCA Natural Persons

Frequently asked questions FATCA Legal Persons

FATCA Forms

FATCA and Group Banco Sabadell