FATCA/CRS
Foreign Account Tax Compliance Act (FATCA) and Qualified Intermediary and Qualified Derivatives Dealer Statuses
CC "SPB Clearing" (JSC) is registered with the U.S. Internal Revenue Service (IRS) in order to be compliant with Foreign Account Tax Compliance Act (FATCA).
The exchange of information between CC "SPB Clearing" (JSC) and Clearing Members for the purposes of the US Foreign Account Tax Compliance Act (FATCA) is governed by the:
In accordance with the law mentioned above, CC "SPB Clearing" (JSC) requires its clients to complete questionnaires in order to determine their FATCA status. THE QUESTIONNAIRE FORMS are specified in the internal documents of CC "SPB Clearing" (JSC):
If additional documents such as Forms W-9 and W-8 need to be completed and submitted, they must be printed out directly from the website of the US Internal Revenue Service (IRS).
The completed questionnaires (in English) must be submitted to CC "SPB Clearing" (JSC) either through the Document Exchange System or by sending them directly to the company.
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Form
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Description
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W-8BEN
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To be completed by non-US resident individuals who are beneficial owners of income received
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W-8BEN-E
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To be completed by non-US resident legal entities that are beneficial owners of income received
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W-8EXP
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To be completed by entities that are exempt from taxation in the US (governments, international organizations, tax-exempt organizations or private foundations)
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W-8IMY
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To be completed by entities that are intermediaries or flow-through entities in the transfer of income to their beneficial owners
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W-8ECI
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To be completed by foreign persons deriving income effectively connected with the conduct of a trade or business in the United States
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W-9
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To be completed by US tax residents
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The Common Reporting Standard (CRS)
The CRS – а Standard for Automatic Exchange of Financial Account Information developed by the OECD (Organization for Economic Cooperation and Development).
The CRS is an international analogue of FATCA aimed at increasing of fiscal transparency and prevention of global tax evasion. Under the CRS the persons concluding (or that have already concluded) an agreement with CC "SPB Clearing" (JSC) on the provision of financial services are obliged to provide CC "SPB Clearing" (JSC) with information enabling their tax residency and the tax residency of their beneficiaries and/or persons that directly or indirectly control them to be determined.
If you are not a tax resident of the country in which your account is opened CC "SPB Clearing" (JSC) is obliged to inform the federal tax authority of that fact and provide them with information about your accounts. That information may also be passed on to the tax authorities of other countries.
Should you have any questions concerning the determination of your tax residency status please contact a professional tax advisor, as CC "SPB Clearing" (JSC) does not provide tax advice.
Please, fill out the following forms of tax residence status confirmation for CRS purposes:
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No.
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Forms
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Form
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1
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Tax Residence Status Confirmation Form for a Legal Entity (Including the organization of the financial market) and a Foreign Organization without Formation of a Legal Entity, as well as Beneficiaries and (or) Persons Controlling them
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Form
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2
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Tax Residence Confirmation Form for Individuals (Including Persons Engaged in Private Practice and Individual Entrepreneurs, Beneficiaries and (or) Persons Directly or Indirectly Controlling them
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Form
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