Klage/Fwd: The Foreign Account Tax Compliance Act (FATCA)
Erik Ribsskog
Til: juridisk
Hei,
dette er trakassering som følge av identitetstyveri, (virker det som).
(Jeg har ikke kontaktet disse).
Vennligst rydd opp!
Med hilsen
Erik Ribsskog
PS.
Jeg sender fortsatt om identitetstyveri til Datatilsynet, (siden at det ikke
virker helt klart, hvem andre jeg burde sende om dette til, synes
jeg).
---------- Forwarded message ----------
From: Information from If P&C Insurance
Date: 2017-05-02 13:31 GMT+02:00
Subject: The Foreign Account Tax Compliance Act (FATCA)
To: "Ribsskog, Erika"
The Foreign Account Tax Compliance Act (FATCA)
New obligations
If Logo
| , | 2 May
The Foreign Account Tax Compliance Act (FATCA) is a U.S. law aimed at preventing tax avoidance by U.S. taxpayers through the use of offshore accounts. It entered into force in July 2014. Since then well over 100 countries have now signed up to Intergovernmental Agreements (IGAs) with the US to implement FATCA.
Premium payment from US
For non-life and risk life insurance (other than life savings) FATCA was not a huge burden at the beginning. It applied to risk premiums paid from the US to a foreign entity. Based on this US insurers, brokers and direct clients have requested the so called W-8BEN-E form that discloses the foreign insurer’s status. In the event that no such form is furnished, the US withholding agent (i.e. local insurer, broker or client) has an obligation to withhold 30% from the insurance premium paid to off shore insurer. If P&C has naturally delivered the requested forms and is therefore compliant with FATCA.
New obligations, US-source risks
As from January 1st 2017, the transitional period for the FATCA regulation lapsed and it now also applies for foreign to foreign insurance premium payments in regards to US source risks. A US source risk has a wide definition. A quick answer is when the insured property or person is, or can be, based in the US. Currently the London market brokers and some US origin brokers have reacted to this new rule and have communicated it to their clients and advised their clients to consider with their tax and compliance advisors how they may be impacted by FATCA. Also a few of the big four accounting entities have published letters around this issue, especially in the UK.
If’s FATCA compliance
If P&C is compliant and If’s clients / brokers can be compliant as well with the said amended regulation. Under FATCA, all of the If Group’s entities and their branch offices are considered to be Non-Financial Foreign Entities that are subsidiaries of a listed entity. If provides W-8BEN-E forms, which disclose and prove its status under FATCA on request. In order to facilitate requests for the receipt of the information, W-8BEN-E forms for all of the If Group entities are also made available to you online www.if-insurance.com/fatca.
Contact person: Jari Ostrovskij; jari.ostrovskij@if.fi; +358105145102
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If P&C Insurance Company Ltd.
Address source: If Industrial client register
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