ING will contact its customers to collect their FATCA statuses via the self-certification forms. Customers are required to confirm and evidence their status:
- If the company is a U.S. person (created or organized in the United States or under the laws of the United States, or a U.S.-based branch of a non-U.S. company), a W-9 form (Request for Taxpayer Identification Number and Certification) has to be filled in. See the website of the IRS for more information.
- If the company wants to attest that it is not a U.S. person, a W-8BEN-E form (Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting) has to be filled in and signed by the person(s) that have been duly designated as authorized to sign binding documents for the company. In this document, the company itself declares what her status is under FATCA. See the website of the IRS for more information.
Please note that some companies, although not tax liable in the United States, may still be subject to reporting to the IRS! As an example, there are special rules for financial institutions and for passive entities with U.S. UBOs.
ING continues to provide services to U.S. and non-U.S. corporations as long as they are willing to deliver the required FATCA documentation.
New customers for whom U.S. indicia are found, will have to be documented before ING will start providing them services.
In the absence of the required documentation (for customers which opened an account before July 1st, 2014) , ING Luxembourg will be obliged to consider customers with U.S. indicia as U.S. Persons. As a consequence, these customers' data and accounts must be reported to the IRS (via the local tax authorities).