- The threat of closure dollar correspondent accounts.
- Ability to receive incoming payments to your bank / financial institution or a customer of your bank / financial institution incomplete (less 30%);
On this basis, the lack of GIIN from your bank or other financial institution may lead to the following consequences:
One of the key responsibilities of FATCA party - retention and transfer to the IRS 30% of tax payments related to income from sources in the United States, directed to financial institutions not involved in FATCA (which lack GIIN). Payments According to financial institutions include payments to their clients.
We inform that the Company MDO "Moliya Islands Sarmoya" successfully registered in the IRS and received GIIN DBDAEC.99999.SL.762, thus becoming a party to financial-institution FATCA.
To fulfill these obligations to a bank or other financial institutions need to become a member of FATCA, registered in the US Tax Service (hereinafter - «IRS»), and to obtain a global identification number (hereinafter - «GIIN»).
We hereby inform that from July 1, 2014 US law "On fiscal discipline in relation to foreign accounts" (hereinafter - «FATCA») imposes a number of obligations on banks and other financial institutions around the world
Ladies and gentlemen!