FATCA & CRS Declaration (Non Individuals)

Learn everything about fatca and crs declarations to be collected from the investor

Mutual Funds collect certain information from the investors to identify the folios held by foreign tax residents and report them to Income Tax Department (ITD). The ITD then shares this information to the investor's country of tax residence, so they can ascertain that the investors are declaring their income and paying the right amount of tax.

tax_residency

Capture information about countries / jurisdictions other than India, where the investor is liable to pay taxes.

To add a tax residency, call create tax residency api with the following json

{
    "profile": "invpni_9abd706565144b839324df4b498bc95e98",
    "country": "us",
    "taxid": "abc123",
    "taxid_type": "irs_number"
}

In the same way, you can add as many tax residencies where the investor is liable to pay taxes

specified_us_person_exemption

Specified US Person means a US Person that is in scope for FATCA reporting. In case the investor's country of incorporation or one of the tax residencies is US, but it is not a Specified US Person, this attribute captures the reason for the exemption from FATCA reporting.

entity_classification

The investor will broadly fall into these categories

• Financial Institution (FI)
• Direct Reporting Non Financial Entity (direct reporting NFE)
• Active Non Financial Entity (active NFE)
• Passive Non Financial Entity (passive NFE)

Financial Institution
fi: If the investor is a financial institution and don't fall under any exemptions for fatca, crs compliance
fi_sponsored: If the investor is a financial institution and is sponsored by another entity
non_reporting_fi: If the investor is a financial institution and falls under certain categories who are exempted from reporting

Direct Reporting NFE
direct_reporting_nfe: If the investor is a NFE, but elects to report information to FATCA

Active NFE
active_nfe: The investor is an active NFE and falls into any of the following categories
active_nfe_listed: The investor is a publicly traded company, whose shares are regularly traded on an established securities market
active_nfe_related_to_listed: The investor is a related entity of a publicly traded company, whose shares are regularly traded on an established securities market

Passive NFE
passive_nfe: The investor is a passive NFE