Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS)

We operate as First State Investments internationally and First Sentier Investors in Australia and are subject to regimes concerning the automatic exchange of financial account information with participating foreign jurisdictions.

These regimes are known as the Foreign Account Tax Compliance Act (FATCA) in the case of exchange with the United States of America (U.S.) and the Common Reporting Standard (CRS) in the case of exchange with other countries that have implemented the Standard.

These obligations require financial institutions, including the investment funds which First Sentier Investors manage, to determine whether accounts are reportable to relevant tax authorities. To do this we need to ask our investors a series of questions regarding their tax status.

In summary:

  • FATCA and CRS require us to determine the tax status of our customers, and depending on the tax status, may require us to collect additional information on the client’s controlling persons.
  • Each investment fund, depending on the client’s tax status, may need to report certain account information either to local tax authorities or, in some instances, directly to the US Inland Revenue Service. 

If you would like more information, please reach out to your First Sentier Investors local contact.

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