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FATCA CRS Terms and Conditions
The Central Board of Direct Taxes has notified on 7th August 2015 Rules 114F to 114H, as part of the Income-tax Rules, 1962, which Rules require Indian financial institutions
such as the Bank to seek additional personal, tax and beneficial owner information and certain certifications and documentation from all our account holders. In relevant cases,
information will have to be reported to tax authorities/ appointed agencies/ withholding agents for the purpose of ensuring appropriate withholding from the account or any
proceeds in relation thereto. Should there be any change in any information provided by you, please ensure you advise us promptly, i.e. within 30 days. If you have any questions
about your tax residency, please contact your tax advisor. If you are a US citizen or resident or greencard holder, please include United States in the foreign country information
$
field along with your US Tax Identification Number. It is mandatory to supply a TIN or functional equivalent if the country in which you are tax resident issues such identifiers. If no
TIN is yet available or has not yet been issued, please provide an explanation and attach this to the form.
Certification
I have understood the information requirements of this Form (read along with the FATCA-CRS Instructions & Definitions under Part D) and hereby confirm that the information
provided by me on this Form is True, Correct, and Complete. I also confirm that I have read and understood the FATCA-CRS Terms and Conditions above and hereby accept the
same.
Name: ______________
Designation: __________
Signature
Date: __/ ___/ ____ Place: _________________________
Part D: FATCA-CRS Instructions & Definitions
1.Financial Institution (FI) - The term FI means any financial institution that is a Depository Institution, Custodial Institution, Investment Entity or Specified Insurance company, as
defined.
• Depository institution: is an entity that accepts deposits in the ordinary course of banking or similar business.
• Custodial institution is an entity that holds as a substantial portion of its business, holds financial assets for the account of others and where it’s income attributale to holding
financial assets and related financial services equals or exceeds 20 percent of the entity's gross income during the shorter of-
(i) The three financial years preceding the year in which determination is made; or
(ii) The period during which the entity has been in existence, whichever is less.
• Investment entity is any entity:
• That primarily conducts a business or operates for or on behalf of a customer for any of the following activities or operations for or on behalf of a customer
(i) Trading in money market instruments (cheques, bills, certificates of deposit, derivatives, etc.); foreign exchange; exchange, interest rate and index instrumens; transferable
securities; or commodity futures trading; or
(ii) Individual and collective portfolio management; or
(iii Investing, administering or managing funds,money or financial asset or money on behalf of other persons ;
or
• The gross income of which is primarily attributable to investing, reinvesting, or trading in financial assets, if the entity is managed by another entity that is a depository
institution, a custodial institution, a specified insurance company, or an investment entity described above.
An entity is treated as primarily conducting as a business one or more of the 3 activities described above, or an entity’s gross income is primarily attributable to investing,
reinvesting, or trading in financial assets of the entity’s gross income attributable to the relevant activities equals or exceeds 50 percent of the entity’s gross income during the
shorter of:
(i) the three-year period ending on 31 March of the year preceding the year in which the determination is made; or
(ii)the period during which the entity has been in existence.
The term “Investment Entity” does not include an entity that is an active non-financial entity as per codes 03, 04, 05 and 06 - refer point 2c. )
• Specified Insurance Company: Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with
respect to, a Cash Value Insurance Contract or an Annuity Contract.
Non-participating financial institution means a financial institution defined in clause 1 of the said instructions, but does not include,-
(a) An Indian financial institution; or
(b) other jurisdiction, being a jurisdiction that has in effect an agreement with the United States of America to facilitate the implementation of FATCA (herein after referred to as
other partner jurisdiction), financial institution,
other than a financial institution treated as a non-participating financial institution pursuant to significant non-compliance of the FATCA agreement in an agreement between the
United States of America and other partner jurisdiction.
Branch Declaration: "We have made best efforts to identify the beneficial owners/controlling persons of the said Company. The details furnished above have been verified
from information available through constitutional documents, public domain."
Axis Bank
Authorised Signatory
A. FIs not required to apply for GIIN:
Code Sub-category
01
02
03
04
05
06
07
08
Governmental Entity, International Organization or Central Bank
Treaty Qualified Retirement Fund; a Broad Participation Retirement Fund; a Narrow Participation Retirement Fund; or a Pension Fund of a Governmental
Entity, International Organization or Central Bank
Non-public fund of the armed forces, an employees’ state insurance fund, a gratuity fund or a provident fund
Entity is an Indian FI solely because it is an investment entity
Qualified credit card issuer
Investment Advisors, Investment Managers & Executing Brokers
Exempt collective investment vehicle
Trustee of an Indian Trust