HSBC provides FATCA information for Private Bank clients

1 July 2014

There are a number of substantial changes being made by financial regulators, governments and banks, to ensure the protection and long-term safety of both the financial system and our clients’ interests.

One of these regulations is the Foreign Account Tax Compliance Act (FATCA), effective date 30 June 2014. This is a new piece of legislation introduced by the United States Department of Treasury (Treasury) and the US Internal Revenue Service (IRS) is to encourage better tax compliance by preventing US Persons from using banks and other financial organisations to avoid US taxation on their income and assets.

To find out how FATCA may affect Private Bank clients please refer to the Global Private Bank FATCA page.

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