100520 – Timetable: Reporting: FATCA

TIMETABLE: REPORTING: FATCA

The table below sets out the information that is to be reported to HMRC for each reporting year in respect of the Intergovernmental Agreement between the UK and the USA. Reporting is required to HMRC by 31 May next following the reporting year for which the information is required.

Report-ing

Year to 31 December

In Respect of Information to be Reported
2014 Each specified US person either

·   Holding a Reportable Account, or

·   As a Controlling Person of an entity account

·   Name

·   Address

·   US Tax Identification Number (where applicable or Date of Birth for pre-existing accounts)1.

·   Account number or functional equivalent.

·   Name and identifying number of reporting financial institution.

·   Account balance or value.

2015 ·   Custodial Accounts ·   Total gross amount of interest.

·   Total gross amount of dividends.

·   Total gross amount of other income paid or credited to the account.

As 2014 plus the items listed aside.
·   Depository Accounts ·   The total amount of gross interest paid or credited to the account in the calendar year or other reporting period.
·   Other Accounts ·   The total gross amount paid or credited to the account including the aggregate amount of redemption payments made to the Account Holder during the calendar year or other appropriate reporting period.

1 The TIN or, if no TIN is held, the date of birth is not required to be reported for pre-existing calendar years before 2017 if the Reporting Financial Institution does not already hold the information.