What is Foreign Account Tax Compliance Act (FATCA)?

The Foreign Account Tax Compliance Act (FATCA) is a United States (US) law requiring all financial institutions around the world to identify customers who may be US persons and report their account information to their local tax authority. In New Zealand, the tax authority is the Inland Revenue Department (IRD).

US persons include:

  • US citizens, including those resident outside the United States
  • US permanent residents, including green card holders
  • People born outside the US with a US parent
  • US tax residents
  • Certain persons who spend a significant number of days in the US each year
  • Corporations, estates and trusts, and other entities controlled by US persons.

If you are a US person you may be contacted to complete a FATCA Tax Residency Form.

This applies to:

  • Individual (including sole trader) customers who are US persons
  • Entity customers where either the entity or its controlling person(s) are US persons

Any questions?

If you have any questions about FATCA, please contact our FATCA Operations Team on:

  • Phone (within NZ): 0800 4 FATCA (32822), 8.30am - 4.30pm, 5 days a week
  • Phone (from overseas): 0064 9 352 2437 (international toll charges apply)
  • Email: FATCA@westpac.co.nz
  • Post: Westpac, FATCA Operations, P.O. Box 934, Shortland St, Auckland, 1140, NZ
  • Fax: 09 366 0831

More information about FATCA can be obtained from the New Zealand Inland Revenue Department, the US Internal Revenue Service or the New Zealand Bankers’ Association.