FACTA – FundBank (Europe) S.A.

The purpose of the US Foreign Account Tax Compliance Act (FATCA) and the Intergovernmental Agreement (IGA) Model 1 signed on 28 March 2014 between Luxembourg and the United States and transposed locally by the law of 24 July 2015 is the automatic exchange of information between the Grand Duchy of Luxembourg and the United States of America. Under this law, the Bank is required to identify its Account Holders in accordance with the due diligence obligations outlined in Annex I of the FATCA Agreement and to file an annual FATCA report with the Luxembourg Inland Revenue (Administration des contributions directes (ACD).

This is a mandatory international exchange of information between competent tax administrations concerning:

on financial accounts held with Financial Institutions in Luxembourg by citizens or residents for tax purposes of the United States of America;
on financial accounts held with U.S. Financial Institutions by residents for Luxembourg tax purposes.

To this end, each legal person or legal arrangement that is resident in Luxembourg must identify its FATCA status and must be able to inform the Luxembourg Inland Revenue (Administration des contributions directes), if it so requests. The FATCA status chosen will determine the due diligence and reporting obligations that must be met.

Any US person will be required to complete the relevant IRS form.