IEIM404060 - Miscellaneous: Documentary Evidence

Miscellaneous: Documentary Evidence

There are a number of instances where a Financial Institution is required to review or obtain documentary evidence in determining whether or not an Account Holder is a Reportable Person. This applies across both reporting regimes.

A Financial Institution (or the third party service provider acting on behalf of the Financial Institution) can accept documentary evidence to support an Account Holder’s status provided the documentation (in original or certified copy form) meets any of the following criteria:

  • A Certificate of Residence issued by an appropriate tax official of the country in which the Account Holder claims to be resident. For example a certificate in relation to a person’s UK tax residence issued by HMRC.

  • Any valid identification issued by an authorised government body (for example, a government or agency thereof, or a municipality), that includes the individual’s name and is typically used for identification purposes. For example a passport or driving licence.

  • With respect to an entity, documentation issued by an authorised government body that includes the name of the entity and either the address of its principal office in the jurisdiction in which it claims to be resident or the jurisdiction in which the entity was incorporated or organised.

  • Any financial statement, third party credit report, bankruptcy filing, or securities regulator’s report.

  • Any of the documents referenced in the UK’s attachment to the QI Agreement as being acceptable in addition to Forms W-8 or W-9.

The documents included in the UK’s attachment to the QI Agreement are:

For natural persons (one or more of the following documents):

  • Passport
  • National identity card
  • Armed Forces identity card
  • Driving licence
  • Shotgun certificate issued by a UK police authority
  • For partnerships: a copy of the partnership agreement,
  • For corporations: a copy of the Certificate of Incorporation or the Memorandum and Articles of Association,
  • For Trusts: either a copy of the Trust deed and any subsidiary deed evidencing the appointment and powers of trustees, or certified copies of extracts from the deeds.

These documents will be treated as valid documentary evidence under both the FATCA and CRS regimes.

Validity of Documentation

Documentary evidence, including a self-certificate, used to establish an Account Holder’s status will remain valid indefinitely subject to a change in circumstance which results in a change of the Account Holder’s status. When reviewing documentary evidence a Financial Institution is expected to give preference to more recent documents, or those with more specific information, than another document.