Recieved a FACTA letter from the bank

Hi Guys,

Just recieved a letter from my bank about FACTA asking me to confirm my U.S. taxt status. I've been UK citizen all my life and I'm currently sponsoring my U.S. partner. Have they got us mixed up or something?

Never been a U.S. citizen and I don't own anything over there.

Sent from my SM-G950F using Tapatalk

DO NOT respond by mail, phone, or online. Go into a branch (person to person) to sort this out.

If this is real, and, - you have never been subject to US tax (joint filing with partner), never lived in the US with a US address,  nor ever had a green card, ask the bank why they believe you are a US person. If you don't do anything, the bank will assume you are a US person and forward all account information to the IRS via HMRC without further questions.

One line in the letter really bothers me.
"Once we have received your completed form we'll be able to confirm in writing how you will be treated for US tax purposes."
A UK bank cannot confirm your US tax status. All they can confirm is whether or not they intend to forward your account details to the IRS via HMRC.

If having your information forwarded to the IRS does not bother you, and there are no threats of account closures or freezes, you could use the letter to line the hamsters cage - but it's best to sort this out if you are not a US Person.

DO NOT respond by mail, phone, or online. Go into a branch (person to person) to sort this out.

If this is real, and, - you have never been subject to US tax (joint filing with partner), never lived in the US with a US address,  nor ever had a green card, ask the bank why they believe you are a US person. If you don't do anything, the bank will assume you are a US person and forward all account information to the IRS via HMRC without further questions.

One line in the letter really bothers me.
"Once we have received your completed form we'll be able to confirm in writing how you will be treated for US tax purposes."
A UK bank cannot confirm your US tax status. All they can confirm is whether or not they intend to forward your account details to the IRS via HMRC.

If having your information forwarded to the IRS does not bother you, and there are no threats of account closures or freezes, you could use the letter to line the hamsters cage - but it's best to sort this out if you are not a US Person.

Thank you yeah this is the second letter of this type I've recieved now and its a bit weird considering they would have my nationality on file. Been with this bank for years so dont know why this has come up all of a sudden

Sent from my SM-G950F using Tapatalk

So been reading the form and it says

"Under penalties of perjury, I certify that:
.
.
3. I am a U.S. citizen or other U.S. person and.
.
."

Wth?? Im definitely not a U.S. person. They have clearly sent it to me by mistake.

Is this possibly meant for my partner? He hasn't recieved this kind of letter in his name by the way. Its just me



Sent from my SM-G950F using Tapatalk

That's very similar to the one I got, but I am a USC.  My wife, who is not a USC but is the other part of the joint account, never received anything.

The only thing I would be concerned about if you ignore the letter is that the bank could decide you are trouble and close  your account.  Maybe even freeze it.  That would be super inconvenient and there's absolutely nothing to stop them from doing it.   

So been reading the form and it says

"Under penalties of perjury, I certify that:
.
.
3. I am a U.S. citizen or other U.S. person and.
.
."

Wth?? Im definitely not a U.S. person. They have clearly sent it to me by mistake.





Sent from my SM-G950F using Tapatalk

That's why a W-9 form is only for US Persons.

Presumably it is not a joint account with your US partner? If not, it is clearly a mistake. I would just write back (and keep a copy) saying, I am not, and never have been, a "US person". Please confirm in writing that none of my information will be forwarded to the US IRS.

I suspect that if you go into a bank branch they will not have a clue what you are talking about!

When we switched banks last year, we signed forms in the branch (we are both dual nationals). At the time, the customer service person said that they were required to ask ALL applicants for new accounts whether they were "US persons". She also said we were the first folks she had dealt with who responded in the affirmative.

While a teller may or may not know anything about the reporting and/or requirements, a customer service representative likely will.

What I would do is send the uncompleted form to the address shown by the bank with a cover letter explaining why this does not apply to your situation. Keep a copy of the signed cover letter as proof you have responded to the FATCA form request. The tellers at the bank would not have the authority or knowledge to deal with this request and it is better to have something in writing rather than verbally explaining the situation.

The OP has a 'grandfathered' account (an older account opened pre-FATCA/CRS). New accounts are easy to identify by the questions at opening, but old accounts require research for a US indicia. Most UK banks farm out this research to offices in India, Malaysia, etc. where they are combed by a third party supplier of the banks offshore office to identify US indicia on old accounts. Unless the exact trigger of the indicia is discovered (what generated the assumption of US-ness) and the record corrected at source, the letters will keep coming with each subsequent search.

When delivering my W-9 to my bank, the service rep I regularly use was able to open a screen on their computer and locate the exact reason the old account was identified (the US indicia). It was an account I had opened decades ago using a US passport.

Since the OP should not have any US indicia, the source needs to be located and corrected on the bank systems.