FATCA and CRS
All banks must check if their customers are liable to pay tax abroad. To fulfil these requirements we will ask you about this. Here is some more information on the requirements and implications of these.
About FACTA and CRS
Sweden and the US have an agreement for exchange of information regarding rax liablity, based on the American tax regulation FATCA (Foreign Account Tax Compliance Act). This means that we must identify and report all financial accounts held by customers who are living in the US, citizens of the US or for other reasons are liable to pay tax in the US. You may be included in this group even if you do not live in the US. An example is if you are holder of a green card.
CRS, an international reporting standard
CRS (Common Reporting Standard) is a global reporting standard aiming to facilitate infomration exchange between countries, regarding financial accounts held by persons with tax liabilities abroad.
The implications for you
Since we need to find out about any tax liabilities abroad we will ask you questions about this when you, as an example, open an account with us. We might also need to ask you for additional information on confirming documentation at any time.
Information is sent to Swedish tax authorities
Information about tax liabilities abroad will be passed on to the Swedish tax authorities, along with information about your account wis us, interest for that account, balance et cetera. These reports are made yearly. The tax authorities will then send the information to its counterparts in the country where you are liable for tax. If we sent any information about you to the tax authorities, we will inform you about this.
Change of tax liabilities
If your tax liabilites have changed, you can inform us by filling in and sending us the form Intygande skatterättslig hemvist (In Swedish) that you can find on this page.