The United States has tax legislation that is more extensive in comparison with other countries. The Foreign Account Tax Compliance Act (FATCA) is a US law that combats tax evasion by US taxpayers worldwide. Under US tax law, "US Persons" are taxable in the United States regardless of where they live or work. FATCA requires financial institutions outside the United States to report data on these US Persons. The Dutch and American governments have made agreements on the basis of which Amdax must also comply with this legislation. For this reason, we ask you if you are a US Person.
You are considered a US Person in the following cases:
1. You are a US citizen. You will be considered a US citizen if:
a. you were born in the United States, or in/on certain US territories (such as Puerto Rico, the US Virgin Islands, Guam, the Northern Mariana Islands) - Note: it is purely about where you were born, so you can be a US Person if you do not have a U.S. passport; and/or
b. you are naturalized as a US citizen; and/or
c. have at least one parent who is a US citizen/has US citizenship - Note: you can be a US Person if you have not lived or do not currently reside in the United States.
2. You have been granted the right to lawful permanent residence in the United States, a so-called Green Card, and you are and/or have been physically present in the United States. Note: you are not considered a US Person if you have a 'Green Card' but have not (yet) been to the United States, nor are you a US Person if you have been on vacation in the United States and do not have a 'Green Card'.
3. You meet the so-called 'Substantial Presence Test’ You meet this requirement if you…
a. have been in the United States for at least 31 days in the current year;
b. have been in the United States for at least 183 days during a 3-year period, including the current year and the 2 years before that, considering
i. all days in the current year also count;
ii. 1/3 of the days you were present in the year prior to the current year are included; and
iii. 1/6 of the days you attended in the second year prior to the current year are included.
Please note: this list is not exhaustive. There may be more reasons why you may or may not qualify as a US Person. There may also be an exception that prevents you from qualifying as a US Person. If in doubt, we advise you to consult your tax advisor.