Information for Foreign Citizens
FATCA stands for the Foreign Account Tax Compliance Act. It’s a US law aimed at foreign financial institutions and intermediaries to prevent tax evasion by US citizens and residents through offshore accounts. If you’re a US citizen in the UK, then you’ll be able to apply for a Ford Money product provided that you make a FATCA declaration and inform us of your Tax Identification Number. For more information, please visit the HMRC website.
CRS stands for Common Reporting Standard. Developed by the Organisation for Economic Cooperation and Development (OECD), it’s a global standard for the exchange of financial account information between tax authorities. If you’re required to report your income or are subject to tax in another country (other than the US which is subject to FATCA) then you’ll be able to apply for a Ford Money product provided that you make a CRS declaration and inform us of your Tax Identification Number(s). For more information, visit the HMRC website.