Media

ANNOUNCEMENT

VCBS: Notice on changes of customer information collection by the FATCA compliance requirements

Tuesday, 01/07/2014

CHANGES ON CUSTOMER INFORMATION COLLECTION BY THE FATCA COMPLIANCE REQUIREMENTS 

1. To individual customers: 

- Starting from 01-July-2014, when an individual customer opens a securities trading and depository at VCBS, besides normal account-opening documents, customer is required to provide information as listed in Additional Information Request Form for FATCA compliance purpose

- When at least one of the answers in the Additional Information Request Form for FATCA compliance purpose, customer is required to fill out additional information on Form W-9 or Form W-8/BEN. There will be VCBS' FATCA specialists to assist customers in filling out these forms as well as in providing supporting documents. 

2. To institutional customers: 

- Starting from 01-January-2015, when institutional customer opens a securities trading and depository at VCBS, besides normal account-opening documents, customer is required to provide some information as required by FATCA. VCBS will provide additional information request forms for institutional customers prior to the deployment date. 

3. Review current customer accounts: 

- Subjects of application: customers who opened a securities trading and depository at VCBS before 01-July-2014 (as to individual customers) and before 01-January-2015 (as to institutional customers).

- Deployment time: within 02 years starting from 01-July-2014. 

- VCBS will inform customers on the review methods and additional information request forms when there's a specific instruction from the U.S. government and the U.S. Internal Revenue Service.

Theo VCBS