Who is a foreign resident for tax purposes?
A foreign tax resident is an individual or entity who is:
- a United States citizen; or
- a resident for tax purposes of any country other than Australia.
US citizens include:
- anyone born in the US; and
- those born outside the US whose parents are US citizens.
You will be asked to complete a self-certification when you open a new account or request certain services from us. You should consult a tax professional if you are unsure whether you are a foreign tax resident.
Why are we collecting tax residency information?
We are legally required to identify and report foreign tax residents to the Australian Taxation Office (ATO) under the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS). Learn more.