KVB Bank FATCA Self Declaration Form Download

The provided document outlines the FATCA/CRS Declaration Form (For Entities) issued by Karur Vysya Bank (KVB). This form is mandatory for non-individual customers (like companies, partnerships, or trusts) to report their global tax residency status in compliance with the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) regulations.

Here are the key points and structural sections of the form:

The header captures the basic legal identity of the business organization:

• Identification: Customer ID, official Entity/Company Name, mobile number, and email address.
• Legal Setup: Date and place of incorporation, proof document type, and number.
• Constitution Type: Selection of business structure (e.g., Sole Proprietorship, Partnership, Private/Public Limited, Trust, Society, or Association).

This screening section flags international exposure by checking cross-border connections:

• Jurisdiction Tracking: Captures the Country of Incorporation, the country issuing the entity’s ID documents, and the specific country where the entity is taxable.
• Beneficial Owners: Requires explicit declaration if any controlling person or beneficial owner is a tax resident outside of India.
• Note: Controlling individuals with foreign tax residency must fill out a separate individual declaration form.

If any country other than India is declared in Part A, the customer must complete this tax tracking section:

• TIN Requirement: Lists the Country of Tax Residency, Taxpayer Identification Number (TIN) or its functional equivalent, and the issuing country.
• Indian Entity Bypass (Tear-off declaration): Provides a specific alternative section if the entity has foreign links but confirms it is not a US/foreign tax entity and holds no foreign controlling residents. This requires Indian incorporation proof.

By signing Part B(ii), the authorized signatories formally agree to several strict legal conditions:

• Reporting Authorization: Acknowledges that KVB will share account data with the Central Board of Direct Taxes (CBDT) and international agencies to comply with Inter-Governmental Agreements (IGA).
• Liability & Verification: Certifies that all details are true, correct, and complete. It shifts liability to the entity for any false or withheld information.
• The 30-Day Update Rule: The entity legally binds itself to notify KVB and submit a fresh self-declaration within 30 days of any change in its tax status or corporate details.
• Loss Indemnity: Agrees to compensate KVB for any financial losses or penalties the bank suffers due to incorrect information provided.

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