FATCA

[PollyC 119]

So, my home country (Hong Kong) said FATCA require me to report to tax status. ((I just file my immigrations doc this morning))

 

They asked me to either fill in W8Ben or W9.

 

Anyone know which one I need to fill in? 

 

Edited May 15, 2018 by PollyC

[PollyC 119]

5 minutes ago, MarriedAndDivorce said:

W8-Ben: https://www.irs.gov/pub/irs-pdf/fw8ben.pdf

 

Source: I`m a banker. 

Oh perfect! So you defo can help me on this.

 

So, i'm looking at the W8Ben now...

 

for Part 1, #3, which address i should fill in? My address in Hong Kong or the address i'm living in now?

for Part 1 - 5 & 6, since I don't have any tax number, what should I fill in there?

 

for the S4 (supporting doc), what doc i should send? Hong Kong passport/HK ID? Do i need to send a copy of my marriage certificate as well?

 

Thank you so much @MarriedAndDivorce !

 

[PollyC 119]

13 minutes ago, MarriedAndDivorce said:

Put your HK address. You only have to file: 1, 2, 3 and 8. Leave the rest blank. Sign, put the date and print your name. I don't know about S4. Is the HK government asking you for it or the bank? 

 

So even now i'm living in the USA i should fill in my address in HK too? 

 

My bank in Hong Kong asking for the S4, guess they will file that to the FATCA with that.

 

i found this on the internet:

Documentary Evidence of Non-US Status (S4)
We need one item of documentary evidence that states your permanent residence address or indicates your country of residency or citizenship/nationality.

We require valid identification which is issued and authorised by a government body that is used for identification purposes and includes your full name. For example:

Current Passport
Current National Identity Card

 

 

[PollyC 119]

@MarriedAndDivorce

 

And i think I can fill in and send them this

 

http://www.fatca.hsbc.com/~/media/fatca/pdfs/asia-pacific/hong kong/fatca-explanation-of-address-hong-kong.pdf?la=en

 

with the marriage certificate? 

 

So that they know I'm in process of the immigration and will report tax and stuff after I got my green card / tax number...etc.?

 

 

 

[PollyC 119]

8 minutes ago, MarriedAndDivorce said:

 

 

Yes you're not a US person yet. There is a reason why the bank is asking you for the FATCA and S4. Your bank in HK open accounts for clients located around the globe. HK has a lot of good offshore banks such as HSBC. However, since 2010, US persons have a very hard time opening offshore accounts because of FATCA. And a lot of banks don't even bother. It's too costly to put the software in place to report to the IRS (every bank outside of the US who has US persons as clients has to report their accounts to the IRS) so they just don't accept US persons. The AML/KYC process is too costly for them. What they are asking you is to prove that you are not a US person. They use the FATCA as a proof (in case the IRS come knocking at their door) and your piece of ID. 

 

 

Oh that make sense. It kinda scares me with this thing i thought im in trouble or something. 

 

So i will just fill out 1,2,3 & 8. Sign and have it mailed back to them.

 

But I will mail the doc to them from the US address that will be fine right?

[PollyC 119]

one of the form i need to send back to them is this one. in part C what should i write is the best?

 

[PollyC 119]

2 hours ago, MarriedAndDivorce said:

Does not apply to you. Leave it blank. 

Thank you so much for your help.

You saved my life! hehe