Common use of FATCA Reporting Clause in Contracts

FATCA Reporting. If the account holder is classified as a US person, the bank will be obliged to disclose required financial and other related information to the regulators. Hence, the Client hereby understands, agrees and indemnifies the bank of the responsibilities for the release of his or her account information without obtaining approval.

FATCA Reporting. If the account holder is classified as a US person, the bank will be obliged to disclose required financial and other related information to the regulators. Hence▇▇▇▇▇, the Client hereby understands, agrees and indemnifies the bank of the responsibilities for the release of his or her account information without obtaining approval.