INSTRUCTIONS

A. COMMON REPORTING STANDARDS SELF-CERTIFICATION: Please read this ENTIRE section before completing this ENTIRE form.

Why are we asking you to complete this form?



To help protect the integrity of tax systems, governments around the world introduced a new information-gathering and reporting requirement for financial institutions known as the Common Reporting Standard (the “CRS”).

The Automatic Exchange of Financial Account Information Act 2016 of Saint Lucia makes the CRS law in Saint Lucia and requires Bank of Saint Lucia (BOSL, our, or we) to determine where you are tax resident (usually where you are liable to pay income taxes). If you are tax resident outside of Saint Lucia, we may be legally obligated to give this information along with information relating to your accounts at BOSL to our local tax authority. Our local tax authority may then share/exchange this information with tax authorities of other jurisdictions pursuant to intergovernmental agreements to exchange financial account information.

Completing this form will ensure that we hold accurate and up-to-date information about your tax residency. All Individual Account Holders, whether singly or jointly must complete this form. The information indicated on this form remains valid unless affected by a change in circumstances relating to information such as your tax status and/or other mandatory information. Changes to such information makes this form incorrect or incomplete. Therefore, if your circumstances change please inform BOSL immediately and provide an updated Self-Certification.

 

Who should complete the CRS INDIVIDUAL self-certification form?

  1. You must complete this form if you are an Individual Account Holder (or an agent of such), whether singly or jointly. An Individual includes a natural person who carries on a business or trade under a Business Name registered under the Business Names Act, or a person who carries on a business in their given name whether or not you qualify as reportable. Further:
    1. You must complete this form if you are a legal guardian of an Account Holder who is a minor.
    2. Even if you have already provided information in relation to the United States Government’s Foreign Account Tax Compliance Act (FATCA), you must provide additional information for the CRS whether or not you qualify as reportable. CRS is a regulatory regime separate from FATCA with its own criteria/stipulations to which BOSL must adhere.
    3. If you are completing this form on behalf of an Account Holder, please ensure that you inform the holder that you have done so.
  2. If you are not an Individual Account Holder, whether singly or jointly, but you are an Entity Account Holder, if the Entity is a Passive NFE:
    1. Your Entity must complete a CRS Entity Tax Residency Self-Certification Form (CRS-E). Every person who has a controlling ownership interest in your Entity, or, in the absence of such individuals, the individual who holds the position of senior managing official, must complete a CRS Controlling Person Self-Certification Form (CRS-CP).

You can find the aforementioned CRS-E and CRS-CP forms at our website www.bankofsaintlucia.com/crs.

You can find summaries of defined terms such as Account Holder in the Appendix section of this form.



Where can you go for further information?

  1. If you have any questions about this form or these instructions please visit:
    1. Our website www.bankofstlucia.com/crs, where you can find a list of definitions in a separate Appendix found under the CRS FORMS tab.
    2. One of our branches to speak to a Customer Relationship Officer
    3. Contact us via the following:

      Telephone:

      1 (758) 456 6999 or
      1 (305) 501 2931

      E-Mail:

      onlinesupport@bankofsaintlucia.com or
      info@bankofsaintlucia.com

  2. The Automatic Exchange of Financial Account Information Act of Saint Lucia makes CRS law in Saint Lucia and may be obtained from the Government of Saint Lucia.
  3. The Organisation for Economic Co-operation and Development (OECD) Automatic Exchange of Information (AEOI) website: www.oecd.org/tax/automatic-exchange/
  4. As a financial institution, we are not allowed to give tax advice. Therefore, you may speak to a professional tax adviser to assist you in answering specific questions on this form
  5. Your domestic tax authority/authorities can provide guidance regarding how to determine your tax status.