AUSTRALIAN GUIDE TO MORGAN STANLEY FATCA & CRS SELF-CERTIFICATION FORM

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1 AUSTRALIAN GUIDE TO MORGAN STANLEY FATCA & CRS SELF-CERTIFICATION FORM CURRENT AS AT 13 JUNE

2 Disclaimer: The information contained in this booklet is general in nature and does not constitute financial or tax advice. You should not rely on the information contained in this booklet and it is recommended that you seek independent professional advice relating to your specific circumstances. The information is current at the date of publication only. While we have made every attempt to ensure that the information contained in this booklet has been obtained from reliable sources, Chapman Eastway is not responsible for any errors or omissions, or for the results obtained from the use of this information at the date of publication. In no circumstances will Chapman Eastway be liable to you or anyone else for any decisions made or action taken in reliance on the information contained in the booklet or for any consequential, special or similar damages, even if advised of the possibility of such damages. 2

3 Introduction Thank you for choosing Chapman Eastway to assist you in completing your FATCA & CRS self-certification forms. We are a firm of family and business advisors with a proud 120 year history and are delighted to bring you this publication. Under Australian law, Common Reporting Standard (CRS) regulations, Foreign Account Tax Compliance Act (FATCA) regulations and relevant Intergovernmental Agreements (IGAs), Morgan Stanley is required to collect and verify information regarding the tax residency or citizenship of individual account holders, and the tax residency of entities and their controlling persons. This guide is designed to assist Australian Resident Companies, Trusts, Self Managed Superannuation Funds (SMSFs), Nonfor-profit Companies, Non-for-profit Foundations/Trusts and Individuals to complete their FATCA & CRS self-certification forms. If a change in circumstances causes any information on the form to be inaccurate or incomplete, please notify your advisor and submit an updated form within 30 days of any such change. This booklet does not constitute legal, financial or taxation advice. We strongly recommend that you obtain professional advice which considers your specific circumstances. If you would like further assistance please contact Chapman Eastway. 3

4 Guide to FATCA & CRS Self-Certification Form For use by Australian Resident Entities only Non-forprofiprofit Individual Partnership Non-for- Company Trust SMSF Company Trust Deceased Estate Go to page 5 Go to page 9 Go to page 13 Go to page 16 Go to page 19 Go to page 22 Contact us 4

5 Guide to FATCA & CRS Self-Certification Form - Company Section 1 Account Holder Identification Account Holder Name: Write full name of the Company. Account number: If known, provide Morgan Stanley account number. Country of Incorporation: Write Australia if the Company was incorporated in Australia. Registered Address: Provide the Company s registered office address. Note: this cannot be a P.O. box. Postal Address: Provide the Company s postal address if it is different from above. Section 2 US Persons Item a: Leave blank (unless the Company was incorporated in the US). Item b: Tick the box. 5

6 Section 3 Non-US Persons Country of Tax Residency: Write Australia. If the Company is a tax resident of a country other than Australia, please complete details or seek advice. Tax Identification Number: Provide the Company s Tax File Number. Entity Classification Item a. Leave blank. Item b. Tick box b. Tick boxes i. and 1. if the Company is an Active Nonfinancial Entity ; Or tick box ii. if the Company is a Passive Nonfinancial Entity. Refer to Decision Tree on Page 24 for guidance in making this determination. Item c. Leave blank. However if the Company is a Registered or Reporting Financial Institution, please seek advice. 6

7 Item d. Leave blank. Section 4 Declaration Only one Director of the Company is required to print their name and sign and write the date of signing the form. By signing this form, the authorised person agrees to provide a new form within 30 days following a change in circumstances such that any/all of the information on this form becomes inaccurate or incomplete. 7

8 Controlling Persons Only complete this section if Passive Nonfinancial Entity is selected in Section 3.b.ii (refer to page 6). The details of persons who exercise control over the Company must be provided. For this purpose any individual with more than 10% ownership interest in the Company may be regarded as a Controlling Person. Therefore, the Controlling Persons are individuals who ultimately have an interest of at least 10% in the Company s voting and/or income rights. If there is no person who would be regarded as a Controlling Person in accordance with this definition, other factors such as Board or Management control should be considered to determine the Controlling Person(s). For each Controlling Person, provide: - Name - Residential Address - Country of Tax Residence - Tax File Number - Date of Birth - Place of Birth - Country of Birth - Controlling Person Type (tick all boxes that apply): o Tick Control by Ownership if a Shareholder o Tick Control by Other Means if a Director. 8

9 Guide to FATCA & CRS Self-Certification Form - Trust Section 1 Account Holder Identification Account Holder Name: Write full name of the Trust. Account number: If known, provide Morgan Stanley account number. Country of Incorporation: Write Australia if the Trust was established in Australia. Registered Address: Provide the Trust s registered office address. Note: this cannot be a P.O. box. Postal Address: Provide the Trust s postal address if it is different from above. Section 2 US Persons Item a: Leave blank (unless the Trust was established in the US). Item b: Tick the box. 9

10 Section 3 Non-US Persons Country of Tax Residency: Write Australia. If the Trust is a tax resident of a country other than Australia, please complete details or seek advice. Tax Identification Number: Provide the Trust s Tax File Number. Entity Classification Item a. Leave blank. Item b. Tick box b. Tick boxes i. and 1. If the Trust is an Active Nonfinancial Entity ; Or tick box ii. if the Trust is a Passive Nonfinancial Entity. Refer to Decision Tree on page 24 for guidance in making this determination. Item c. Leave blank. However if the Trust is a Registered or Reporting Financial Institution, please seek advice. 10

11 Item d. Leave blank. Section 4 - Declaration Only one Individual Trustee or Director of Corporate Trustee is required to print their name and sign and write the date of signing the form. By signing this form, the authorised person agrees to provide a new form within 30 days following a change in circumstances such that any/all of the information on this form becomes inaccurate or incomplete. 11

12 Controlling Persons Only complete this section if Passive Nonfinancial Entity is selected in Section 3.b.ii (refer to page 10). Controlling Persons are Individual Trustees, Directors of Corporate Trustee/s, Settlors, Beneficiaries who receive or become entitled to receive trust distributions during the current calendar year and any other natural persons who exercise ultimate effective control over the Trust. For each Controlling Person, provide: - Name - Residential Address - Country of Tax Residence - Tax File Number - Date of Birth - Place of Birth - Country of Birth - Controlling Person Type (tick all boxes that apply): o Tick Settlor if a Settlor o Tick Trustee if an Individual Trustee o o Tick Beneficiary if a Beneficiary Tick Other if a Director of Corporate Trustee or any person who exercises control over the trust. Trustee/s are required to notify their financial advisor if in the future years, any beneficiaries who receive trust distributions become foreign residents of Australia for tax purposes. 12

13 Guide to FATCA & CRS Self-Certification Form - SMSF Section 1 Account Holder Identification Account Holder Name: Write full name of the Fund as it appears on the Deed (including the full word Superannuation ). Account number: If known, provide Morgan Stanley account number. Country of Incorporation: Write Australia. Registered Address: Provide the Fund s registered office address. Note: this cannot be a P.O. box. Postal Address: Provide the Fund s postal address if it is different from above. Section 2 US Persons Item a: Leave blank. Item b: Tick the box. 13

14 Section 3 Non-US Persons Country of Tax Residency: Write Australia. Tax Identification Number: Provide the Fund s Tax File Number. Entity Classification Item a. Tick the box. Item b. Leave blank. Item c. Leave blank. 14

15 Item d. Leave blank. Section 4 - Declaration Only one Individual Trustee or Director of Corporate Trustee is required to print their name and sign and write the date of signing the form. By signing this form, the authorised person agrees to provide a new form within 30 days following a change in circumstances such that any/all of the information on this form becomes inaccurate or incomplete. 15

16 Guide to FATCA & CRS Self-Certification Form Non-for-profit Company Section 1 Account Holder Identification Account Holder Name: Write full name of the Company. Account number: If known, provide Morgan Stanley account number. Country of Incorporation: Write Australia if the Company was incorporated in Australia. Registered Address: Provide the Company s registered office address. Note: this cannot be a P.O. box. Postal Address: Provide the Company s postal address if it is different from above. Section 2 US Persons Item a: Leave blank (unless the Company was incorporated in the US). Item b: Tick the box. 16

17 Section 3 Non-US Persons Country of Tax Residency: Write Australia. If the Company is a tax resident of a country other than Australia, please complete details or seek advice. Tax Identification Number: Provide the Company s Tax File Number. Entity Classification Item a. Leave blank. Item b. Tick boxes b., i. and 2. Item c. Leave blank. 17

18 Item d. Leave blank. Section 4 - Declaration Only one Director of the Company is required to print their name and sign and write the date of signing the form. By signing this form, the authorised person agrees to provide a new form within 30 days following a change in circumstances such that any/all of the information on this form becomes inaccurate or incomplete. 18

19 Guide to FATCA & CRS Self-Certification Form Non-for-profit Trust Section 1 Account Holder Identification Account Holder Name: Write full name of the Trust. Account number: If known, provide Morgan Stanley account number. Country of Incorporation: Write Australia if the Trust was established in Australia. Registered Address: Provide the Trust s registered office address. Note: this cannot be a P.O. box. Postal Address: Provide the Trust s postal address if it is different from above. Section 2 US Persons Item a: Leave blank (unless the Trust was established in the US). Item b: Tick the box. 19

20 Section 3 Non-US Persons Country of Tax Residency: Write Australia. If the Trust is a tax resident of a country other than Australia, please complete details or seek advice. Tax Identification Number: Provide the Trust s Tax File Number. Entity Classification Item a. Leave blank. Item b. Tick boxes b., i. and 2. Item c. Leave blank. 20

21 Item d. Leave blank. Section 4 - Declaration Only one Individual Trustee or Director of Corporate Trustee is required to print their name and sign and write the date of signing the form. By signing this form, the authorised person agrees to provide a new form within 30 days following a change in circumstances such that any/all of the information on this form becomes inaccurate or incomplete. 21

22 Guide to CRS Self-Certification Form Individual Section I Account Holder Information Provide your personal details as required. Please do not provide a P.O. box for your residential address. Section II Tax Residence Country of Tax Residence: Write Australia. If you are a tax resident of a country other than Australia, please complete details or seek advice. Tax Identification Number: Provide your Tax File Number. Tick box I certify the tax residence resident. 22

23 Section III Declarations and Signature Print your name, sign and write the date of signing the form. By signing this form, you agree to provide a new form within 30 days following a change in circumstances if any of the information on this form becomes inaccurate or incomplete. 23

24 Decision Tree Active Nonfinancial Entity or Passive Nonfinancial Entity This Decision Tree will assist you in determining whether an entity is an Active Nonfinancial Entity or Passive Nonfinancial Entity. Yes Does the entity carry on an active trading business (1)? Unsure No For the previous calendar year: 1) was at least 50% of the gross income derived from passive investments (2) ; and 2) were at least 50% of the assets held for producing passive income? No Yes The entity is usually considered a Passive Nonfinancial Entity Unsure The entity is usually considered an Active Nonfinancial Entity Contact us (1) Active trading business means any business other than a specified investment or personal services business. (2) Income from passive investments include dividends, interests, rent, royalties, annuities etc. (3) Generally speaking, a SMSF should most likely be regarded as a Passive Nonfinancial Entity. 24

25 Level 15, 9 Hunter Street Sydney NSW 2000 Telephone: Facsimile: mail@chapmaneastway.com.au Web: Mail: GPO Box 979 Sydney NSW 2001 Primary Contacts: Sean Cortis CEO Anthony Ryan Director 25