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This document is intended as a summary, is for information purposes only and is general in nature. It should not be construed as tax or legal advice. Abu Dhabi Commercial Bank PJSC or any other member of its Extended Affiliated Group may not be held liable for any loss that results from reliance upon this information. Customers should seek professional legal and tax advice relevant to their specific circumstances.

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FATCA Overview

  1. 1. What is FATCA?

  2. 2. Will ADCB implement FATCA?

  3. 3. Is ADCB the only Bank affected by FATCA?

  4. 4. When is the effective date of FATCA?

  5. 5. Who is impacted by FATCA?

  6. 6. What documentation will I be requested to submit for FATCA purposes?

  7. 7. Where can I find the form that I need to complete?

  8. 8. Where can I find more detailed information on FATCA?

  9. 9. What happens if I don’t provide the required forms?

  10. 10. How often do I have to provide information for FATCA purposes?

  11. 11. What information will ADCB report to the local authorities?

  12. 12. Does FATCA replace existing US tax rules that I already follow?

Individual Clients

  1. 13. What are the indicia of U.S. status for individuals?

  2. 14. What does FATCA mean for me if I don’t have any U.S. Indicia?

  3. 15. What does FATCA mean for me if I have U.S. Indicia?

  4. 16. If I have surrendered my U.S. citizenship (.e. am no longer a U.S. passport/green card) holder what are the documents required to prove the same?

  5. 17. What happens if a joint account is held by a US person and a non-US person?

  6. 18. Does the required IRS (W9/W-8BEN) documentation have to be provided in original format?

  7. 19. If I have a U.S.-dollar account or investment in US securities, does this classify me as a U.S. person?

  8. 20. If I have dual citizenship with the U.S., am I considered a U.S. person?

  9. 21. I was born in the U.S., but have lived outside the U.S. my whole life. How does FATCA impact me?

Business Clients

  1. 22. Is FATCA only applicable to U.S. entities?

  2. 23. What do I need to do if I am a business client with U.S. Owners?

  3. 24. What if I am unable to select any of the classifications mentioned on the form?

FATCA Glossary - Financial Entities

  1. Intergovernmental Agreement (IGA)

  2. FFI

  3. Financial Institution

  4. Depositary Institution

  5. Custodial Institution

  6. Investment Entity

  7. Specified Insurance Company

  8. UAE Financial Institution

  9. Partner Jurisdiction

  10. Partner Jurisdiction Financial Institution

  11. Participating FFI

  12. Registered Deemed Compliant FFI

  13. Non-participating FFI

  14. Entity Wholly Owned by Exempt Beneficial Owner

  15. Global Intermediary Identification Number (G.I.I.N.)

FATCA Glossary - Non-Financial Entities

  1. Active NFFE

  2. Passive NFFE

  3. US Controlling Person

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