The Government of the Virgin Islands, through the BVI International Tax Authority of the Ministry of Finance is informing the public that a template has been prepared for the Self Certification Forms required under the United States of America and United Kingdom FATCA Agreements.
These forms were prepared with the assistance of the FATCA Working Group and are intended to also assist Financial Institutions in conducting their due diligence procedures.
Financial Institutions are required to collect certain information regarding each account holder’s tax arrangements to verify whether entities and/or controlling persons of the accounts are citizens of the United States of America. Self-Certification is required in the context of existing accounts and new account holders.
A template was also produced for Individual Self Certification and Entity Self-Certification. Financial Institutions can modify or adapt these forms as they see fit. A copy of these forms can be found on the Government’s website at: www.bvi.gov.vg/fatca