Union Bank of India FATCA DECLARATION From Download

This document is a bilingual (Hindi and English) Union Bank of India FATCA Annexure form, required under Section 285BA of the Income Tax Act, 1961 (fatca decl… p. 1). It is mandatory for all individual or joint accounts opened since September 1, 2015 (fatca decl… p. 2).

The key points of the document are organized below:

• Specific Condition: The core details in Part-A must be filled out if the customer’s country of birth, nationality, or tax residency is outside of India (fatca decl… pp. 1-2).
• Multi-Country Residents: If an individual pays taxes in more than one foreign country, the information must be repeated for each country (fatca decl… p. 1).

If applicable, the applicant must provide (fatca decl… p. 1):

• Personal Demographics: Place of birth, country of birth, nationality, Aadhaar number (if available), and spouse’s name (if married) (fatca decl… pp. 1-2).
• Tax Identifiers: The specific Country of Tax Residency and its corresponding Tax Identification Number (TIN) (fatca decl… pp. 1-2).
• Documentary Tracking: The TIN issuing country, the date the document was collected, and the country names associated with both residential/correspondence and permanent addresses (fatca decl… pp. 1-2).

By signing the document, the customer legally agrees to the following conditions (fatca decl… p. 1):

• Truthfulness: Certifies that all account opening information and supporting documents are true, correct, and complete (fatca decl… p. 1).
• 30-Day Update Rule: Undertakes to notify and recertify with the bank within 30 days if any provided tax information changes or becomes incorrect (fatca decl… p. 1).
• Account Restrictions: Agrees that the bank can restrict account operations or take legal action if material facts are withheld or if deficiencies are not corrected within the stipulated time (fatca decl… p. 1).
• Tax Liabilities: Assumes full responsibility to pay any tax demands or interest arising from inaccurate disclosures (fatca decl… p. 1).
• Data Sharing Authorization: Explicitly authorizes Union Bank of India to share, transfer, and disclose confidential account and transaction data with domestic or foreign regulatory authorities for compliance (fatca decl… p. 1).

If you want, I can help you with the next steps:

• List the acceptable documents to prove foreign tax residency
• Explain what happens if a Non-Resident Indian (NRI) fails to submit this
• Clarify what a TIN (Tax Identification Number) is for specific countries

Download PDF Click here

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