The Financial Account Tax Compliance Act (FATCA) facilitates the transparent exchange of financial information between the United States and India. In order to adhere to FATCA regulations and ensure compliance, financial institutions, including brokerage firms like Upstox, require customers to complete a FATCA declaration. This declaration is essential for conducting financial transactions and avoiding any potential account blocks.
For the same, please modify your FATCA and CRS status for current financial year by following these steps:
1. Verify your Tax Identification Number (TIN) based on your country of residence, as per the OECD guidelines Tax identification numbers (TINs) - Organisation for Economic Co-operation and Development
2. If any of your details have changed, kindly complete the attached FATCA and CRS Self-Certification Form and send it back to us along with the required documents.
3. Should you have any questions regarding this matter, we encourage you to consult your tax advisor
4. Please notify us within 30 days should any of your information change in the future.