Who is reportable under FATCA?
Who is reportable under FATCA? 'Reportable accounts' are 'financial accounts' maintained by the FI where the 'account holder' is either a UK specified person (essentially a UK resident individual, partnership or unlisted company) or is a non-UK entity the 'controlling persons' of which include one or more UK specified persons. Does FATCA apply to reinsurance? FATCA requires the imposition of a 30% withholding tax on certain U.S. source payments (including insurance or reinsurance premium) unless the recipients of such payments provide documentation to support their exemption from this withholding tax. What countries participate in FATCA? These 14 countries have Model...