Tax self-certification within a group insurance contract

What is an automatic exchange of information ?

Combating fraud and tax evasion has become a major issue both within the European Union and worldwide. After the Foreign Account Tax Compliance Act (FATCA) which established the automatic exchange of information with the United States, the G20 assigned the OECD (Organisation for Economic Co-operation and Development) to draw up an equivalent standard at global level.

The Common Reporting Standard (CRS) is the OECD standard which establishes the automatic exchange of information for tax purposes. The CRS was adopted by the countries of the European Union, including Luxembourg.

Within this context, Luxembourg financial institutions are required to identify their non-resident customers, and gather various pieces of information, including the Tax ID No., by getting them to fill in a tax self-certification form.

What is the Tax ID No. ?

It is the tax identification number.

Most of the member States of the European Union use tax identification numbers, but there is no Tax ID No. at European Union level.

The TIN is the Tax identification Number for US citizens.

What does “tax resident” mean ?

In general terms, the term “tax resident” designates any person subject to tax in a country, owing to their domicile or residence.

However, this definition of tax resident does not apply to persons who are only subject to tax in this country in respect of the income generated in this country, without being domiciled or resident there.

The condition, therefore, is having a permanent home in the country.

Who will this information be forwarded to ?

The information relating to the concerned members shall be forwarded annually to the Luxembourg Tax Administration (Administration des Contributions).

The Tax Administration will then forward this information to the tax authorities of the member’s country of residence in the context of CRS or to the USA as far as FATCA is concerned.

What information will be communicated ?

As far as members of group life insurance contrats are concerned: the name, date and place of birth, address, contract number, and the value of the vested rights on 31 December of the previous calendar year.

In the event of redemption, transfer or liquidation of the rights occurring during the year preceding the forwarding of the information, the concerned amount will also have to be sent by Foyer Vie.

Information regarding the scheme member

First name

Name

Date of birth

Country of birth

City of birth

Current residential address

Number Street name

Postal code City

Country

The correspondence address is the same as the home address.

Address for correspondence

Number Street name

Postal code City

Country

Luxembourg social security identification number

Information on tax residence

Are you a Luxembourg resident ?

yes

Tax residence

I am unable to provide a Tax ID No.

+ Add another tax residence

Declaration related to US citizenship status (FATCA)

I declare that :

I am a citizen of the United States of America
(specifically born in the US, resident in another country and who have not given up their US citizenship)

I am a legal resident of the United States of America
(specifically a holder of the American green card)

I am an American taxpayer in accordance with tax legislation for any other reason

I am not a citizen of the United States of America or resident of the United States of America within the meaning of FATCA regulation.