If your account information holds any of the following seven criteria, we may request further information or documentation to determine if you are a United States (US) person under the Foreign Account Tax Compliance Act (FATCA): 

• US citizenship or US residence
• US place of birth
• US address including US PO boxes
• US telephone number
• Repeating payment instructions to pay amounts to a US address or an account maintained in the US
• Current power of attorney or signatory authority granted to a person with a US address
• 'In care of' or 'hold mail' address in the United States, which is the sole address for the account holder

FATCA stands for the Foreign Account Tax Compliance Act. It is a piece of legislation introduced by the United States Department of Treasury (Treasury) and the US Internal Revenue Service (IRS) in 2014. 

The purpose of FATCA is to encourage better tax compliance by preventing US persons from using banks and other financial organisations to avoid US taxation on their income and assets.

A significant number of countries and territories worldwide have signed inter-governmental agreements (IGAs) relating to FATCA compliance with the United States government. These IGAs have resulted in the FATCA legislation becoming part of their local laws. The United Kingdom Government entered into a IGA with the US on 12 September 2012. This has been incorporated into UK law though the International Tax Compliance Regulations, SI 2015/878. 

On an annual basis, UK-based banks and other financial organisations are required to report information to HM Revenue and Customs (HMRC) on financial accounts held directly or indirectly by US persons.

Triodos Bank UK is committed to being fully FATCA compliant in all countries and territories where we operate. We will therefore be reviewing our existing customer base to confirm the FATCA statuses of our customers and where necessary we may have to contact our customers for further information and documentation.