06.05 – Current CD or Gibraltar mailing address/residence address (including “in-care-of” or “hold mail” address)

Financial Institutions must already search the current addresses held for each account holder under the regulations to implement the US agreement (see sections 5.8 and 5.11 of the US guidance).

Where the indicia found is a current CD or Gibraltar mailing/residence address, the account must be reported unless the UK Financial Institution obtains or currently maintains a record of the following:

  • a self certification that the account holder is not a CD or Gibraltar resident for tax purposes; and either
  • a certificate of residence for tax purposes issued by an appropriate official of the country or jurisdiction in which the Account Holder claims to be resident, or
  • the provision of a local tax identification number of the country or jurisdiction in which the Account Holder claims to be resident, and, a passport issued by the jurisdiction in which the Account Holder claims to be a resident.

Financial Institution with a Local Client Base

Identification of the Account Holder as having a mailing address in a CD or Gibraltar would mean that the account would be identified as provided to a person who is NOT a resident of the UK.

This category of account would also be subject to due diligence by a Financial Institution with a Local Client Base that is a Deemed Compliant Financial Institution under the regulations to implement the US agreement.