The U.S. Foreign Account Tax Compliance Act (FATCA)

FATCA is a tax law enacted in the United States (“U.S.”) in March 2010 and will become effective in July 2014.  FATCA aims to prevent the non-compliance with U.S. tax obligations by U.S. taxpayers holding foreign financial accounts.

According to the information published by the U.S. Internal Revenue Service (the “IRS”), FATCA requires foreign financial institutions (“FFIs”) to conduct certain due diligence procedures to identify and report to the IRS information in respect of foreign financial accounts held by (i) U.S. taxpayers; or (ii) foreign entities in which U.S. taxpayers hold a substantial ownership interests.  FFIs which do not comply with FATCA will be subject to withholding taxes on certain payments received by them. 

Frequently Asked Questions

Circulars

HKSCC

The U.S. Foreign Account Tax Compliance Act (30 June 2017)

The U.S. Foreign Account Tax Compliance Act (4 February 2016)

Survey on the U.S. Foreign Account Tax Compliance Act - Reminder (14 September 2015)

Survey on the U.S. Foreign Account Tax Compliance Act (26 August 2015)

The U.S. Foreign Account Tax Compliance Act (FATCA) – Execution of Model 2 Intergovernmental Agreement (IGA) for Hong Kong (13 November 2014)

Amendments to the Terms and Conditions for Investor Participants (30 June 2014)

Amendments to General Rules of CCASS and CCASS Operational Procedures (30 June 2014)

The U.S. Foreign Account Tax Compliance Act – Registration (13 June 2014)

Survey on the U.S. Foreign Account Tax Compliance Act (15 May 2014)

Seminar on the U.S. Foreign Account Tax Compliance Act (11 March 2014)

The U.S. Foreign Account Tax Compliance Act (31 December 2013)

The U.S. Foreign Account Tax Compliance Act (8 October 2013)

HKCC/SEOCH

The U.S. Foreign Account Tax Compliance Act (HKCC) (30 June 2017)

The U.S. Foreign Account Tax Compliance Act (SEOCH) (30 June 2017)

The U.S. Foreign Account Tax Compliance Act (HKCC) (4 February 2016)

The U.S. Foreign Account Tax Compliance Act (SEOCH) (4 February 2016)

Survey on the U.S. Foreign Account Tax Compliance Act - Reminder (14 September 2015)

Survey on the U.S. Foreign Account Tax Compliance Act (26 August 2015)

The U.S. Foreign Account Tax Compliance Act (FATCA) – Execution of Model 2 Intergovernmental Agreement (IGA) for Hong Kong (13 November 2014)

Amendments to the Rules and Procedures of HKFE Clearing Corporation Limited (30 June 2014)

Amendments to the Options Clearing Rules and Operational Clearing Procedures for Options Trading Exchange Participants (30 June 2014)

The U.S. Foreign Account Tax Compliance Act – Registration (13 June 2014)

Survey on the U.S. Foreign Account Tax Compliance Act (15 May 2014)

Seminar on the U.S. Foreign Account Tax Compliance Act (11 March 2014)

The U.S. Foreign Account Tax Compliance Act (31 December 2013)

The U.S. Foreign Account Tax Compliance Act (8 October 2013)

OTC Clear

The U.S. Foreign Account Tax Compliance Act (FATCA) – Execution of Model 2 Intergovernmental Agreement (IGA) for Hong Kong (13 Novemeber 2014)

Amendments to the Rules of OTC Clearing Hong Kong Limited ("OTC Clear Rules") (30 June 2014)

The U.S. Foreign Account Tax Compliance Act - Registration (17 June 2014)

The U.S. Foreign Account Tax Compliance Act (2 January 2014)

Reference Links

Hong Kong Government

Model 2 Inter-governmental agreement (IGA) between Hong Kong and the U.S. (13 Nov 2014)

Press release on inter-governmental agreement (IGA) to facilitate compliance with FATCA (13 Nov 2014)

Press release on inter-governmental agreement (IGA) to facilitate compliance with FATCA (9 May 2014)

"Circular to all Licensed Corporations and Registered Institutions concerning the U.S. Foreign Account Tax Compliance Act" issued by SFC (15 May 2014)

FATCA FAQs (7 Oct 2015)

U.S. Department of Treasury

U.S. Internal Revenue Service (IRS)

FATCA Registration System (Online)

Form 8957, FATCA Registration

FATCA Foreign Financial Institution (FFI) List

FATCA FAQs

 

Disclaimer 

Certain information posted on this webpage is derived from the IRS and the U.S. Treasury websites, and HKEX’s understanding of FATCA.  While care has been taken to ensure accuracy of information provided, nothing on this webpage is intended to be, or should be construed to constitute, legal or tax advice; and no information on this webpage may be used or interpreted for the purpose of avoiding U.S. tax penalties.  Participants should consult their own professional advisors on the implications of FATCA.