The US Foreign Account Tax Compliance Act (FATCA), the Crown Dependencies and Overseas Territories (CDOT) rules and the Common Reporting Standard (CRS) require funds and, potentially, other entities within a fund structure, to provide tax authorities with certain information about their investors.
Model Documents
The BVCA has produced model documents for use in obtaining the information required under FATCA and CRS, together with some notes to assist investors in completing the forms.
Individuals will require only the individual form but entities will require both the entity and controlling person forms.
All investors should be sent the notes. These forms will enable funds to comply with the relevant regimes as implemented in the UK. It should be noted that fund entities in other jurisdictions may need to provide different or modified forms depending upon domestic law in the country in question. Local advice will be required on this.
