Am I only affected if I am a citizen of the US ?
No. If an individual’s account holds any of the following seven criteria, Tunisie Valeurs may request further information or documentation to determine if you are a US person under FATCA.
  • US citizenship or US residence.
  • US place of birth.
  • US address including US PO boxes.
  • US telephone number.
  • Repeating payment instructions to pay amounts to a US address or an account maintained in the US.
  • Current power of attorney or signatory authority granted to a person with a US address.
  • In care of or hold mail address which is the sole address for the account holder.
What does FATCA mean for me if I am a US person ?
If you are considered a US person (see glossary), you may be asked to supply Tunisie Valeurs with additional information or documentation. You may also wish to visit the IRS website: External site: Link opens in an overlay to determine if you need to complete and submit any additional IRS forms.
If you are a specified US person (see glossary), Tunisie Valeurs will be required to report information about you and your account to the local tax authority or the IRS on anannual basis.
Whilst we will correspond with affected customers in due course, Tunisie Valeurs cannot offer any advice relating to FATCA and we recommend that you contact a professional tax advisor to discuss your personal tax situation.
What does FATCA mean for me if I am not a US person ?
For most customers, FATCA has minimal impact, and there will be no action required. However, Tunisie Valeurs may still contact you to confirm your status as a non-US person if we have reason to believe you are potentially a US person for FATCA purposes.
Does FATCA replace existing US tax rules that I already follow ?
FATCA does not replace the existing US tax regimes, it may however add additional requirements and complexity to the existing US tax rules you may already follow. We recommend you contact a professional tax advisor to discuss your personal tax situation.
What happens if a joint account is held by a US person and anon-US person ?
A joint account which has one US owner is treated as a US account and therefore the entire account is subject to the FATCA legislation.
How frequently will I have to provide information for FATCA purposes ?
FATCA is an ongoing process. If your account information changes, we may be required to contact you to obtain additional information or documentation so that we are able to update your account classification under FATCA.
What information will Tunisie Valeurs report to the IRS or local tax authority ?
The information reported to the IRS or local tax authority will depend on the FATCA classification of the customer. This information will typically be of a personal nature (for example, name, address, US taxpayer identification number), and of a financial nature (for example, account number, account balance, amounts paid into the account).We will be communicating with the affected customers in detail on these requirements.