Hello
Guest

Sponsored Links


Topic: Letter from bank confirming resident for tax purposes?  (Read 1381 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 63

  • Liked: 11
  • Joined: Jan 2016
Letter from bank confirming resident for tax purposes?
« on: October 18, 2022, 05:50:38 PM »
Hi guys

Have just for the first time in 8 years living in the UK received a letter from one of my banks asking me to confirm where I am resident for tax purposes.
It says it's due to FATCA and CRS (Common Reporting Standard) regulations & my account doesn't have enough information for them to confirm my tax residency.

Anyone familiar with these forms?

It seems I just need to provide my SSN and then list that I'm resident in the United Kingdom for tax purposes (and indicate that the UK doesn't have TIN Numbers?) .... my concern though is that I've just been in the process of changing my name after getting married. My name on my bank account and my passport is my married name now.
My name in the US (social security card, bank accounts, last tax returns) are all still in my maiden name. Am worried this will be an issue?

I do intend to update all of these things in due course, but just haven't done it yet.

Just wondering if anyone got experience with these forms , otherwise will try to call the bank tomorrow !

Thanks in advance


  • *
  • Posts: 2622

  • Liked: 102
  • Joined: Dec 2005
Re: Letter from bank confirming resident for tax purposes?
« Reply #1 on: October 18, 2022, 06:01:33 PM »
Parliament decided in 2012 that all UK banks & financial institutions will identify US person customers and provide data about these customers to HMRC.  UK banks & financial institutions have sent tens of millions of FATCA letters since.  Parliament placed no obligation on the recipient of a FATCA letter to respond. You will have been reported on in the past and will be reported on in the future whether or not you choose to reply to a FATCA letter.


  • *
  • Posts: 4115

  • Liked: 744
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: Letter from bank confirming resident for tax purposes?
« Reply #2 on: October 18, 2022, 07:21:05 PM »
I would simply reply with your SSN and current name. If you have ever done a self assessment return in the UK then your TIN would I think be your UTR (Unique Taxpayer Reference) or if you work and pay UK taxes via PAYE I would put your NI number. If neither then put N/A.

Not professional advice, just what I would do. I believe that when I completed those forms for the bank when we returned in 2016 it was well before I had applied for and received a UTR so I would have given my NI number. 
Dual USC/UKC living in the UK since May 2016


  • *
  • Posts: 346

  • Liked: 60
  • Joined: Jun 2017
Re: Letter from bank confirming resident for tax purposes?
« Reply #3 on: October 20, 2022, 01:05:16 PM »
Taxation Authorities worldwide are becoming more and more in lockstep (phrase of the moment!  ;D)  and increasingly share more and more information.

I'm assuming that you are a USC who files US tax returns? If so, then there can be no harm in sharing this information with your bank.  If you're a USC who is delinquent in filing, then you may want to look at the Streamline process - or otherwise run the risk that they might find you in the end.



Sponsored Links





 

coloured_drab