What is FATCA?

FATCA, stands for Foreign Account Tax Compliance Act, is a U.S. law concerning the reporting of financial accounts held by American individuals in foreign countries. Enacted in 2010, FATCA is intended to prevent U.S. taxpayers from using offshore accounts to evade taxation. The regulation requires financial institutions, including digital asset exchanges operating abroad, to report account information of individuals classified as a “U.S. Person” to the United States Internal Revenue Service (IRS).

How is FATCA Related to Bitkub Exchange?

As a digital asset exchange provider operating under the authorization of relevant regulatory authorities, Bitkub Exchange (“Company”) is obligated to comply with FATCA requirements. If you are a U.S. citizen, a U.S. permanent resident, or otherwise considered a reportable person under U.S. law, you are required to provide the relevant documentation to the Company including:

Form for Declaration of Status as U.S. Person or Non-U.S. Person (FATCA Form)

• FATCA Form (W-9) - For U.S. Persons
  • Social Security Number (SSN)
  • Employer Identification Number (EIN)
• FATCA Form (W-8BEN) - For Non-U.S. Persons with U.S.-sourced investment income
  • Taxpayer Identification Number (TIN)

If you are unsure of your tax status under FATCA or require assistance with completing the relevant documents, please contact Bitkub Support for assistance. Please note that while the Company is unable to provide tax advice, we are pleased to assist you with the procedural requirements to ensure compliance.

References

• IRS – Foreign Account Tax Compliance Act (FATCA)
• IRS – FATCA FAQs