KFH Malaysia has committed to be FATCA compliant in all countries that we operate. In this regard, whenever you visit any of our Branches or Business touch points for the service of our products or facilities, we may request for further information and/or documentation about your FATCA status.
Please note that you may receive more than one request for information or documentation depending on the nature of your relationships with KFH Malaysia.
As part of being FATCA compliant, we will also be reviewing our pre-existing customer base to confirm our customers’ FATCA status. Where necessary, we may have to contact our customers for further information and documentation.
FATCA legislation will affect both Individual and Business customers who are treated as “U.S. Person” for tax purposes.
Whilst KFH Malaysia will correspond with affected customers in due course, KFH Malaysia cannot offer any advice relating to FATCA and we recommend that you contact a professional tax advisor to discuss your personal tax situation.
For Individual Customer
Definition of U.S. Person
- U.S. citizenship or U.S. residence.
- U.S. place of birth.
- U.S. address including U.S. P.O. Box.
- U.S. telephone number.
- Standing instructions to transfer funds to an account maintained in the U.S.
- A U.S. “in care of” address or a “hold mail” address that is the sole address for the account holder.
- A power of attorney or signatory authority granted to a person with a U.S. address.
Further information and documentation may be requested by KFH Malaysia to determine whether you are a U.S. person under FATCA. If required, we may contact you for further information and documentation.
What if I am a U.S. person?
If you are considered a U.S. person, we may request for further information and documentation. If required, you may be requested to complete and submit some relevant forms.
What if I am not a U.S. person?
FATCA will have minimal impact for most customers who are not a U.S person. There will be no action required, but if necessary, KFH Malaysia may still contact you for further information and documentation if we have reason to believe you are potentially a US person for FATCA purposes.
For Business Customer
If your FATCA status is a U.S. person, KFH Malaysia may contact you for further information and documentation, if required. The aim of this exercise is to identify customers that must be reported under FATCA.
How will I be affected if I am a U.S. company?
If you are considered a U.S. company, we may request for further information and/or documentation.
If required, our Relationship Manager may contact you to complete and submit some relevant forms.
How will I be affected if I am not a U.S. company?
The impact of FATCA is wider than just for U.S Companies. KFH Malaysia may still contact our Business Customers to determine their status i;e whether the Business is a U.S. person under FATCA. If required, we may contact you for further information and/or documentation.