La collecte des informations concernant le statut fiscal des clients investisseurs

Why does Younited have to collect information concerning the tax status of its fund investors?

Tax liability and tax status query by Younited 

Under certain conditions, we may request additional information from you to assess your tax situation in the United States, in accordance with FATCA or CRS. This article explains the reasons for these requests, and what information is required. 

Reasons for Tax Status Queries

To preserve the integrity of tax systems, various countries have adopted a common tax information statement. OECD member states have ratified the Common Reporting Standard (CRS), providing participating countries with a framework for sharing tax information. 

Prior to this, the US enacted the Foreign Account Tax Compliance Act (FATCA) in 2015 to identify instances of non-compliance by US taxpayers using offshore accounts. 

Reporting under FATCA and CRS 

Younited, providing banking services, is required to comply with the regulations in force under the CRS. This means that Younited must determine the country where you are taxable and collect your tax identification number. Your information may therefore be shared with the national tax authority, which may in turn share it with the tax authorities of other countries where you are tax liable. You can learn more about determining your tax residency here.

Likewise, Younited is registered with the US Internal Revenue Service (IRS) and is therefore legally obligated to review our clients' personal details with respect to US tax liability and report them as part of FATCA. 

CRS Indicators 

Younited may require you to submit your tax identification number based on the following criteria, which are considered an indication that you may be tax liable in a CRS participating country: 

• You live in a country that participates in CRS
• You have a PO Box or address in a country that participates in CRS
• The phone number you registered on your Younited account is from a country where the CRS is in force
• You have a direct deposit or recurring transfers to an account that is based in a country in agreement with the CRS

FATCA indicators 

Younited may request additional documentation, such as your full Social Security Number (SSN), to assess your tax status in the United States. Some indicators that you might be taxable in the United States: 

• You are a citizen of the United States
• The phone number registered on your Younited account is an American number
• You were born in the United States
• You provided a US address
• You have set up permanent transfers to the United States

How to submit your information 

Your tax identification number may be requested by Younited on the basis of the criteria indicated above. 

To submit this information, you can simply send us an email or a letter. Moreover, this information is systematically requested in the account opening documents. 

Transmission of information for foreign customers 

As described above, as a bank we must report tax information to regulatory authorities. This also applies to accounts created in 2016 that were subsequently closed. In the event that you receive an email from Younited asking you to enter your social security number or your tax ID, please follow the following steps: 

• Read the email carefully
• If you need help, you can find specific instructions for obtaining tax IDs for each country here in Section III of each document
• Call the number indicated in the email within the time limit
• We will ask you a few questions in order to transmit your tax information
• Your personal data will be stored securely and will only be used to fulfill CRS and FATCA obligations.

Are you taxable in the United States of America? 

US law states that not only people living in the US, but also other people under certain conditions, must pay taxes to the US government. A person is defined as American when one or more of the following applies: 

• US Citizen - includes dual citizenships 
• Residence in the USA - e.g. Greencard holder 
• Born in the United States / in US territory - Includes US embassies abroad 
• Other reasons - for example, multiple residences or marriage to a US citizen 

If you have any doubts, contact a specialist tax advisor to clarify your tax situation. If you become taxable in the United States during the term of the filing, please notify Younited. You are fully responsible if your answer is incorrect. 

Where can you find your tax ID? 

You can find your tax identification number (TIN) on your tax reports or payslips. If you cannot find your tax ID, you can also request it from the tax authority of the country where you are responsible for tax. 

Important 

Please note that we are not authorized to advise you on your tax status. If you are unsure of your tax status, please consult a tax advisor.