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Common use of FATCA Withholding Clause in Contracts

FATCA Withholding. Due to the enactment of the Foreign Account Tax Compliance Act (FATCA), if HTS cannot reliably associate a payment with valid documentation from the foreign person(s), HTS must presume the account is domestic, backup withhold and produce a 1099 tax statement for the period of time the foreign account is not properly documented. Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entities (NFFEs) must submit a valid IRS Form W-8BEN-E. If HTS does not receive valid documentation, FFIs and NFFEs are subject to 30% FATCA withholding. In addition, if the account is classified as a United States Financial Institution (USFI) and HTS does not receive a valid IRS Form W-9, HTS is required to treat the USFI as foreign, subject to 30% FATCA withholding and produce a 1042-S tax statement for the period of time the USFI is not properly documented.

Appears in 8 contracts

Samples: Fully Disclosed Clearing Agreement, Fully Disclosed Clearing Agreement, Fully Disclosed Clearing Agreement

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FATCA Withholding. Due to the enactment of the Foreign Account Tax Compliance Act (FATCA), if HTS cannot reliably associate a payment with valid documentation from the foreign person(s), HTS must presume the account is domestic, backup withhold and produce a 1099 tax statement for the period of time the foreign account is not properly documented. Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entities (NFFEs) must submit a valid IRS Form W-8BEN-E. If HTS does not receive valid documentation, FFIs and NFFEs are subject to 30% FATCA withholding. In addition, if the account is classified as a United States Financial Institution (USFI) and HTS does not receive a valid IRS Form W-9, HTS is required to treat the USFI as foreign, subject to 30% FATCA withholding and produce a 1042-S tax statement for the period of time the USFI is not properly documented.

Appears in 3 contracts

Samples: Customer Agreement, Customer Agreement, Customer Agreement

FATCA Withholding. Due to the enactment of the Foreign Account Tax Compliance Act (FATCA), if HTS cannot reliably associate a payment with valid documentation from the foreign person(s), HTS must presume the account is domestic, backup withhold and produce a 1099 109 9 tax statement for the period of time the foreign account is not properly documented. Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entities (NFFEs) must submit a valid IRS Form W-8BEN-E. If HTS does not receive valid documentation, FFIs and NFFEs are subject to 30% FATCA FATC A withholding. In addition, if the account is classified as a United States Financial Institution (USFI) and HTS does not receive a recei ve valid IRS Form W-9, HTS is required to treat the USFI as foreign, subject to 30% FATCA withholding and produce a 1042-S tax statement for the period of time the USFI is not properly documented.

Appears in 2 contracts

Samples: Customer Agreement, Customer Agreement

FATCA Withholding. Due to the enactment of the Foreign Account Tax Compliance Act (FATCA), if HTS cannot reliably associate a payment with valid documentation from the foreign person(s), HTS must presume the account is domestic, backup withhold and produce a 1099 tax statement for the period of time the foreign account is not properly documented. Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entities (NFFEs) must submit a valid IRS Form W-8BEN-E. If HTS does not receive valid documentation, FFIs and NFFEs are subject to 30% FATCA FATC A withholding. In addition, if the account is classified as a United States Financial Institution (USFI) and HTS does not receive a recei ve valid IRS Form W-9, HTS is required to treat the USFI as foreign, subject to 30% FATCA withholding and produce a 1042-S tax statement for the period of time the USFI is not properly documented.

Appears in 2 contracts

Samples: Customer Agreement, Customer Agreement

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FATCA Withholding. Due to the enactment of the Foreign Account Tax Compliance Act (FATCA), if HTS Xxxxxxx cannot reliably associate a payment with valid documentation from the foreign person(s), HTS Xxxxxxx must presume the account is domestic, backup withhold withhold, and produce a 1099 tax statement for the period of time the foreign account is not properly documented. Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entities (NFFEs) must submit a valid IRS Form W-8BEN-E. If HTS Xxxxxxx does not receive valid documentation, FFIs and NFFEs are subject to 30% FATCA withholding. In addition, if the account is classified as a United States Financial Institution (USFI) and HTS Xxxxxxx does not receive a valid IRS Form W-9, HTS Xxxxxxx is required to treat the USFI as foreign, subject to 30% FATCA withholding and produce a 1042-S tax statement for the period of time the USFI is not properly documented.

Appears in 1 contract

Samples: Account Agreement

FATCA Withholding. Due to the enactment of the Foreign Account Tax Compliance Act (FATCA), if HTS Xxxxxxx cannot reliably associate a payment with valid documentation from the foreign person(s), HTS Xxxxxxx must presume the account is domestic, domestic backup withhold and produce a 1099 tax statement for the period of time the foreign account is accountis not properly documented. Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entities (NFFEs) must submit a valid IRS Form W-8BEN-E. If HTS Xxxxxxx does not receive valid documentation, FFIs and NFFEs are subject to 30% FATCA withholding. In addition, if the account is classified as a United States Financial Institution (USFI) and HTS Xxxxxxx does not receive a valid IRS Form W-9, HTS Xxxxxxx is required to treat the USFI as foreign, subject to 30to30% FATCA withholding and produce a 1042-S tax statement for the period of time the USFI is USFIis not properly documented.

Appears in 1 contract

Samples: Account Agreement

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