Beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

International Exchange of Information Manual

Due Diligence: Pre-Existing Entity Accounts: Reportable Accounts: Self-Certification

Due Diligence: Pre-Existing Entity Accounts: Reportable Accounts: Self-Certification

Where the Financial Institution has carried out the review of regulatory and customer relationship information and has indications that the Account Holder is resident in a Reportable Jurisdiction it may obtain a self-certification from the Account Holder which reasonably determines that the Account Holder is not a Reportable Person with respect to such Reportable Jurisdiction.

A self-certification for an entity must be signed (or otherwise positively affirmed) by the person with authority to sign on behalf of the entity. This will include:

  • An officer or director of a corporate entity;
  • A partner of a partnership;
  • A trustee of a trust;
  • Any person holding an equivalent title to any of the above; and
  • Any other person with written authorisation from the entity to sign documentation on behalf of the entity.

 

The self-certification must also be dated at the latest at the date of receipt by the Financial Institution and must contain the following information in respect of the entity:

  • The name;
  • The address;
  • The jurisdiction(s) of tax residence [see IEIM402015]; and
  • The TIN with respect to each Reportable Jurisdiction [see IEIM402040].

 

The Financial Institution may also request the Account Holder entity to include its status in the self-certification as either a Financial Institution [see IEIM400600] or a Non-Financial Entity (NFE) [see IEIM404040]. When requesting this information from an Account Holder the Financial Institution is expected to provide the Account Holder with sufficient information to enable it to determine its status. Financial Institutions may produce their own guidance for this purpose or they may reference this guidance manual, the OECD Standard for Automatic Exchange of Financial Account Information in Tax Matters or the Intergovernmental Agreements for FATCA and CDOT reporting as appropriate.

The requirements for the validity of such a self-certification are the same as for those for self-certification of new individual accounts at IEIM403140 to IEIM403200.