FATCA Policy

FATCA Policy

Maystone PLC is fully committed to compliance with the United States' Foreign Account Tax Compliance Act (FATCA) and all related Intergovernmental Agreements (IGAs). This policy outlines our obligations and the requirements for our clients to ensure we meet these international standards.

Our FATCA Obligations

FATCA is a U.S. law that requires foreign financial institutions (FFIs) to report information about financial accounts held by U.S. Persons to the U.S. Internal Revenue Service (IRS). As a global corporate service provider that facilitates the opening of financial accounts, Maystone PLC and its partners are considered non-U.S. financial institutions and are subject to these rules. We are committed to:

  • Identifying U.S. Persons: Implementing due diligence procedures to identify clients who are U.S. Persons, including U.S. citizens, green card holders, and certain entities.
  • Collecting Required Documentation: Obtaining the necessary documentation from U.S. Persons, such as a valid Form W-9, to verify their tax status.
  • Reporting: Reporting information on financial accounts held by U.S. Persons to the relevant tax authorities as required by FATCA.
  • Withholding: Potentially withholding tax on certain payments to non-participating financial institutions and non-cooperative clients.

Client Requirements

Your full cooperation is essential for our compliance with FATCA. You are required to:

  • Declare Your Tax Residency: Accurately declare your tax residency and U.S. Person status during the client onboarding process.
  • Provide Documentation: If you are a U.S. Person, you must provide a valid Form W-9 and any other documentation we may request.
  • Timely Updates: Notify us promptly of any changes to your tax residency or U.S. Person status.

Failure to provide the requested information or to accurately declare your status may result in a denial of services or the termination of our engagement. We will not be liable for any consequences, including potential fines or penalties, that may arise from your non-compliance.