Question 1

What is FATCA?

Accepted Answer

A law which was enacted in the United States against undeclared and non-taxable income of taxable individuals in the United States who hold accounts with financial institutions outside the United States. The Foreign Account Tax Compliance Act (FATCA) requires that foreign financial institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on withholdable payments.

Question 2

Since when is FATCA applicable?

Accepted Answer

Since 01.07.2014.

Question 3

How is FATCA implemented?

Accepted Answer

Every financial institution shall: Identify specific account details held directly or indirectly by customers who are U.S. tax residents. Submit the above information to the local tax authorities.

Question 4

What information is submitted to the tax authorities?

Accepted Answer

Financial institutions are requested to provide -as a minimum- the following information about the beneficiaries of declarable accounts: Full name Address Tax identification number (TIN) or social security number Account number Account balance or value at the end of the relevant calendar year or other corresponding period The total amounts of interest or payments with which the account is credited

Question 5

Who is the controlling person?

Accepted Answer

This is an individual who exercises direct or indirect control over a legal person or entity without legal personality. This person is usually the beneficial owner of the entity, namely the individual who owns or controls, directly or indirectly, at least 25% of the entity.

Question 6

Is FATCA applicable to me?

Accepted Answer

The FATCA framework is applicable to all individuals and entities (i.e. legal persons or entities without legal personality) that: Are citizens or have permanent residence in the USA Have a US passport Αre considered U.S. residents for tax purposes Have a green card Were born in the USA Have placed a standing order for money transfers to an account held in the USA Have designated a power of attorney or authorized an individual with US address to sign  Have in US alternatively: mailing address, mailbox or home address or phone number or account with a US financial institution

Question 7

What information shall I provide?

Accepted Answer

Full name / Company name Address Place of birth (for individuals and controlling persons) Date of birth (for individuals and controlling persons) Tax or social security number Details of a controlling person (for beneficiary owners and controlling persons) Type of legal entity (for entities)

Question 8

What is the process of self-certification of my tax residence?

Accepted Answer

Please fill out the relevant forms of the Internal Revenue Service (IRS), the US tax authority, and submit them along with the necessary supporting documents as follows: The W-9 form (in case of U.S. persons) The W-8BEN form if you are a natural person (in case of non-U.S. persons) The W-8BEN-E form if you are a legal entity (in case of non-U.S. persons) Form W-8IMY (Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting; Instructions for Form W-8IMY (10/2021) | Internal Revenue Service (irs.gov)). Please contact your tax advisor for the proper completion of the relevant forms.

Question 9

What happens if I do not wish or refuse to disclose my data?

Accepted Answer

Viva Payment Services, S.A., like all financial institutions, is required by law to collect and submit each year specific information about its taxable customers in the United States, according to the data and documents available to us. If we identify that you are a declarable person, natural or legal, in accordance with the due diligence rules we apply, we shall submit your information to the competent tax authorities, pursuant to the relevant legislation. Changes in circumstances The present declaration shall be valid indefinitely, unless there are variations in the declared data. I agree to report any possible change in the data declared in this form within 30 days of the change of circumstances by submitting a new form. At ________________________dated__/_______/_______ Signature: __________________________________________ Data of the Representative Signature: Type of Representation:  Full Name: Signature: ________________________________________  Information on the processing of personal data Individuals Processing of personal data The data controller is Company XXX., with Tax number and address at Contact details of the Data Protection Delegate: Link  Purpose of processing The data requested are necessary and will be processed for the purpose of complying with the regulatory obligations required by:  i. Law 58/2003, of December 17, 2003, General Tax Law and its implementing regulations,  ii. Council Directive 2011/16/EU of February 15, 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC, as amended by Council Directive 2014/107/EU of December 9, 2014 amending of 9 December 2014 amending Directive 2011/16/EU as regards the obligatory nature of the automatic exchange of information in the field of taxation and repealing automatic exchange of information in the field of taxation.  iii. Agreement entered into between the Kingdom of Spain and the United States of America for the improvement of international tax compliance and the implementation of the Foreign compliance and the implementation of the Foreign Account Tax Compliance Act (FATCA) and its implementation.  (Foreign Account Tax Compliance Act) and its implementing regulations.  The data will be processed for as long as the contractual relations remain in force, and will be kept (during the period of limitation of actions arising from the statute of limitations of the actions derived from such relationships) for the sole purpose of complying with the legal obligations required, and for the formulation and for the formulation, exercise or defense of claims.  Communication of data  The data may be communicated to public authorities and bodies, in order to comply with a required legal obligation, as well as to service required, as well as to service providers and third parties necessary for the management and execution of this form.  Exercise of rights and claims before the Data Protection Authority The holder of the personal data may exercise the rights in relation to the same in accordance with the regulations in force, at the offices of  COMPANY and address at www.XXX exercise of rights or through your digital or mobile banking to check. Likewise, you may address any claims arising from the processing of your personal data to the Spanish Data Protection Agency (www.agpd.es).

Foreign Account Tax Compliance Act (FATCA)
Information for customers

In General

Liable Persons

The FATCA Legal Framework

FATCA Implementation

Required Information

Customer’s Eligibility for FATCA

Useful Information for FATCA

Collection and Processing of Your Personal Data Within the Framework of FATCA

FAQs

Foreign Account Tax Compliance Act (FATCA)Information for customers