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
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
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