BVI Guidance Notes for the US and UK FATCA Agreements
Posted by William Byrnes on July 30, 2014
This document is a DRAFT of the proposed Guidance Notes for the US and UK FATCA Agreements with the Government of the British Virgin Islands and at this stage it is for discussion purposes ONLY!
153 page draft FATCA guidance issued by BVI available > here <.
3. DEEMED COMPLIANT FINANCIAL INSTITUTIONS – US AGREEMENT ONLY
4. NON-REPORTING FINANCIAL INSTITUTIONS – UK AGREEMENT ONLY
13.4. Pre-existing Cash Value Insurance Contracts or Annuity Contracts unable to be sold to US residents – US Agreement only
13.4.1. Assignment of Pre-existing Insurance Contracts
13.5. Lower Value Accounts
13.6. Electronic Record Searches and Lower Value Accounts
13.6.1. Identifying Indicia – US Agreement
13.6.2. Curing Indicia – US Agreement
13.6.3. Identifying Indicia – UK Agreement
13.6.4. Curing Indicia – UK Agreement
UK AGREEMENT – SPECIFIC ELEMENTS
1. Annex IV – Alternative Reporting Regime for UK Resident
Non-Domiciled Individuals
2. Other differences to the US Agreement
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