Bank of Baroda FATCA (Foreign Account Tax Compliance Act)

Bank of Baroda FATCA (Foreign Account Tax Compliance Act) CRS (Common Reporting Standards) Declaration

Bank of Baroda FATCA (Foreign Account Tax Compliance Act) CRS (Common Reporting Standards) Declaration Form Download

Based on the provided document, here are the key points for the Bank of Baroda FATCA-CRS Annexures for individual and entity accounts:

Tax Residency Declaration: Account holders must declare if they are tax residents only of India or specify any foreign countries where they owe taxes (revised-fa… p. 7).
US Citizens & Green Card Holders: Individuals holding US citizenship or a green card must explicitly list the United States as a country of tax residence (revised-fa… p. 7).
Tax Identification Number (TIN): Providing a TIN or its functional equivalent is mandatory for foreign tax residents (revised-fa… p. 7).
Core Bio-Data: The form collects your complete birth details, including date, city, and country of birth (revised-fa… pp. 7-8).
Permissible ID Proofs: Acceptable validation documents include a Passport, Voter ID, PAN Card, Driving License, UIDAI Letter, or NREGA Job Card (revised-fa… p. 7).

Entity Constitution Type: Covers all structures like Sole Proprietorships, Partnerships, HUFs, Private/Public Limited Companies, Trusts, and LLPs (revised-fa… p. 9).
Financial Institution Details (Part A): Financial entities or Direct Reporting NFFEs must share their Global Intermediary Identification Number (GIIN) or their sponsor’s GIIN (revised-fa… p. 9).
NFE Categorisation (Part B): Entities must disclose if they are Publicly Traded, an Active NFE, or a Passive NFE (revised-fa… p. 10).
Controlling Persons Data (Part C): For Passive NFEs, it is mandatory to capture the identification, tax residency, and beneficial ownership percentage of up to three controlling individuals (revised-fa… pp. 10-11).

Mandatory Reporting: If a valid self-certification form is not provided, the bank is legally obliged to report the account details directly to the relevant tax authorities (revised-fa… pp. 8, 11).
30-Day Change Window: Customers are legally bound to notify the bank of any changes to their tax residency profile within 30 days (revised-fa… pp. 8, 11).
Account Restraint: Non-compliance or failure to furnish tax data gives the bank the right to withhold account funds, suspend transactions, or close the account entirely (revised-fa… pp. 8, 11).

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