Glide Invest FAQ: Why am I being made to sign the FATCA declaration?

Why am I being made to sign the FATCA declaration?

The Foreign Account Tax Compliance Act (FATCA) is an American act requiring all financial institutions to report the identities and assets of all American citizens currently not residing in America. This is to ensure that tax evasion does not take place.

India has entered an agreement with the US government to provide information related to FATCA. All financial institutions require their customers to declare whether they were born in the US, are residents or citizens of the US, or have a mailing address in the US which is then shared with the US government.


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