Antimoney Laundering

 

 

What is FATCA?

The Foreign Account Tax Compliance Act (FATCA) is a United States federal law that requires United States persons, including individuals who live outside the United States, to report their financial accounts held outside of the United States, and requires foreign financial institutions to report to the Internal Revenue Service (IRS) about their U.S. clients.

Maxinta Valores agree with FATCA, committing to cooperate with the identification, report, and – in some cases – the withhold of American taxpayer´s funds.

The commitments that Maxinta Valores makes are:

– Identify American taxpayers (US PERSON) owner of financial accounts till Jone 30th 2014.

– Identify American taxpayers between our new clients, from July 1st 2014.

– Those identify as US PERSON will be asked to provide relevant documentation to certify his/her US PERSON taxpayer status. If the client denies to provide the documentation, will be identified as Recalcitrant Client.

– Report to the IRS certain information about US PERSON clients in agreement with a calendar established in the Act.

– Identify between our clients, Financial Entities that has not sign the FATCA Agreement and report them.

– Withhold funds from clients in particular cases, determined by FATCA Act.

– Document any circumstance that change the client status in accordance with FATCA Act.