This page contains some general information about FATCA and also a FATCA Form to be completed by customers as part of the Bank’s account opening procedures.

Introduction to FATCA: FATCA stands for the Foreign Account Tax Compliance Act. FATCA is U.S. legislation first published in 2010 and first implemented in early 2013 to counter tax evasion in the U.S. FATCA was introduced by the United States Department of Treasury and the U.S. Internal Revenue Service (IRS). FATCA’s purpose is to promote better tax compliance by preventing U.S. Persons from using banks and other financial institutions to avoid U.S. taxation on their worldwide income and assets.

Inter-Governmental Agreements (IGAs): To help implement FATCA compliance worldwide, the U.S. Government has been concluding Inter-Governmental Agreements (IGAs) with many governments, including that of the United Arab Emirates Government, which has entered into an IGA of type Model 1B. These IGAs have resulted in U.S. FATCA legislation becoming an embedded part of these countries’ local laws. UAB is a registered deemed compliant financial institution with the IRS and has obtained its GIIN (Global Intermediary Identification Number).

UAB’S GIIN: 65ZB6Y.00000.LE.784.

Impact of FATCA: The impact for banks and other financial institutions and their customers is that financial institutions are required to report, on an annual basis, information on financial accounts held directly or indirectly by U.S. Persons. In the case of UAE regulated banks, such reporting is to the UAE Central Bank. FATCA impacts all customers of UAB, not just U.S. Persons, as UAB needs actively to identify each of its customers by type and whether or not they are a U.S. Person.

UAB’s FATCA Customer Forms: To assist UAB in discharging its regulatory responsibilities, we politely request our customers to complete the necessary additional Customer Forms as part of our normal account opening procedures as may be required and as are available for download immediately below.

Individual Customer Forms
• Individual Customer FATCA Form A
• Individual Customer FATCA Form B

Entity Customer Forms
• Entity Customer FATCA Form A

Additional Terms and Conditions Regulatory Information
• English
• Arabic

UAB’s Withholding Certificate: UAB has duly completed and signed a Withholding Certificate in the form of IRS Form W-8BEN-E and this is available for download immediately below.

Form W-8BEN-E dated 28^th February,2018

Tax Advice Important Note: UAB is not regulated to offer tax advice. For any tax related questions, you are advised please to contact your professional tax adviser or refer to the IRS website.