FATCA

 

Agreement between the US and the Netherlands for the exchange of information about United States tax subjects

On 18 December 2013, the Kingdom of the Netherlands and the United States of America signed an Inter Governmental Agreement 1. The Inter Governmental Agreement ("IGA") is aimed at improving international tax compliance and implementing FATCA.

ABN AMRO Bank N.V. and ABN AMRO Clearing Bank N.V. are established under Dutch law and have their statutory seat in the Netherlands. Both entities are subject to the NL-US IGA. ABN AMRO Bank N.V. and ABN AMRO Clearing Bank N.V. their subsidiaries and branches:

  • Will comply with the NL-US IGA and other currently applicable IGAs or FATCA regulations in all countries where they do business.

  • Have registered with the US Tax Authority, the Internal Revenue Service (IRS).

  • Will not do business with non-participating FFI's.

Under the FATCA-regulations ABN AMRO Bank N.V. and ABN AMRO Clearing Bank N.V. are classified as a Foreign Financial Institution (FFI), more specifically:

  • A Reporting Model 1 FFI in countries where a model 1 IGA is applicable;

  • A Reporting Model 2 FFI in countries where a model 2 IGA is applicable;

  • A US FI in the United States of America.

The IRS gave the following Global Intermediary Identification Number (GIIN)
GIIN: VQ9CJ6.00000.LE.528 to: ABN AMRO Bank N.V.
GIIN: VQ9CJ6.00001.ME.528 to: ABN AMRO Clearing Bank N.V.

Currently ABN AMRO Bank N.V. and ABN AMRO Clearing Bank N.V. do not have entities in countries without an agreement with the US about United States Tax subjects (so called FATCA-countries.) For a complete overview of the ABN AMRO Bank N.V. and ABN AMRO Clearing Bank N.V. FFI's registered with the IRS, refer to the IRS-website. For an overview of our subsidiaries world wide, refer to our page about subsidiaries and other entities .

ABN AMRO's FATCA/CRS classificaties

Frequently asked questions

FATCA, which stands for Foreign Account Tax Compliance Act, is intended to make United States tax subjects who hold assets outside the United States correctly file tax returns to the United States tax authorities, the IRS. The Dutch government has made reciprocal agreements with the United States government regarding the exchange of certain details.

As of 1 July 2014, all Dutch financial institutions are required by law to provide the Dutch Tax and Customs Administration with information about customers who could have United States tax liability. As of 2015, the Dutch Tax and Customs Administration forwards this information to the IRS.

If you have tax liability, this means that you are obliged to file a tax return in the United States. Whether you are required to pay tax depends, among other things, on the tax treaty between the Netherlands and the United States or, for instance, your income.

For more information on FATCA refer to the website of the Dutch Banking Association .