Fatca ca buisness account?

[iamlmfao]

FATCA

Is this spose to be taken seriously?

The Foreign Account Tax Compliance Act (FATCA), a U.S. tax law, requires financial institutions like PayPal to collect additional information from customers when a new business account is opened. This information is required even if your business or your customers are not United States taxpayers or located in the United States. This information is collected for regulatory and compliance purposes. If you’d like to learn more about FATCA, click here.

I clicked and it takes me to nothing.....

[rsot]

I thought that FATCA only applies to US citizens who are living abroad - not about customers as opposed to more for the businesses... did you check out the irs website?

[topadog]

they are also collecting more info from canadians also for CRA canada

Originally Posted by rsot

I thought that FATCA only applies to US citizens who are living abroad - not about customers as opposed to more for the businesses... did you check out the irs website?