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TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 17609
Experience:  International tax
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We just received a Inter-Government Agreement Declaration

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We just received a Inter-Government Agreement Declaration to confirm tax status under FATCA form from our bank. Not sure why it was sent to us as we are a UK charity with no US persons associated with us - any ideas as to why we were sent these forms & how to respond?
HelloFATCA requires Financial Institutions outside the US to pass information about their US customers to the US tax authorities, the Internal Revenue Service (IRS).If your bank has US branches or is associated with a US bank then they are just requesting that you identify your organization as a non US entity.I would suggest you mark the Nonprofit section and identify (strictly for the bank's records) that you are a UK entity.They must have this on record for all especially if the bank is associated with US or you receive any US funds for your organization. It does not place your organization in any US tax or reporting situation.
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Customer: replied 2 years ago.
Ok, thanks. We do have a US sister organization - with no organizational or financial links to us at the moment, but coincidently we have just started discussions with them about sending a donation to us on a regular basis. We have not enacted or set anything up yet. Will this change what we have to report now?
No it does not change. Thanks for adding that information. I suspected a connection on your part or the bank.The sister organization in the US then is the reason.You need to mark the form and identify your organization as UK.Again this is a form retained by the bank. It does not place you in a US tax reporting position.
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Customer: replied 2 years ago.
great - thanks!
You are most welcome.My goal is to give you excellent service.Your positive rating is thanks enough