Self-certification [Fill as an Individual]
Common Reporting Standard/Automatic Exchange of Information/Foreign Account Tax Compliance Act
The Automatic Exchange of Information (AEOI) regime is based on Common Reporting Standard (CRS), an internationally agreed Standard developed by the Organization of Economic Cooperation and Development (OECD) to combat tax evasion.
Sterling Bank Plc (Sterling) must comply with the relevant AEOI requirements in all jurisdictions in which the Bank operates.
In order to fulfill the AEOI requirements, Sterling Bank Plc must collect certain information and /or documentation from customers to establish their tax authorities in other countries or jurisdictions, in accordance with the applicable law.
In addition, the United States (U.S.) Foreign Account Tax Compliance Act (FATCA) requires Financial Institutions to collect and report tax related information on accounts held by U.S. persons.