Automatic Exchange of Information

As a customer, this means you will be asked questions about your Tax Residency when you open a financial account with a Financial Institution (and in some other scenarios).

Local laws (in some countries such as New Zealand, the Cayman Islands, etc) may prohibit ANZ from opening accounts and/or require ANZ to freeze or close existing account(s) if the required information is not provided.

Existing Individual/Entity Customers

If you have an existing account, ANZ may contact you to confirm your country(ies) of tax residence and request additional information, forms and/or documents. This is to establish whether you have accounts that need to be reported under the FATCA or CRS laws. We may also contact you if information indicates that you could be a foreign tax resident.

New Individual Customers

If you open a new account, the laws in certain countries may require ANZ to ask you to provide various information such as your country(ies) of tax residence(s), tax identification number(s), and certifications, forms and/or documentation.

If you are a foreign tax resident, you need to provide your taxpayer identification number (TIN) or equivalent number used to identify you to the Tax Authority in the foreign country. If you don’t provide a TIN, you will be asked to provide a reason for not doing so.

New Entity Customers (such as companies, trusts, partnerships, associations etc.)

If you open a new account on behalf of a legal entity or arrangement (such as a trust or partnership), the laws in certain countries may require ANZ to ask you to provide various information, certifications, forms and/or documents (within certain timeframes) about:

• The tax residence(s) of the entity.
• Taxpayer identification number(s) (TIN(s)).
• The nature of the entity’s business.
• In some circumstances, the individuals who control the entity or have specific connections to the entity. This includes their tax residence(s), TIN(s) and other required information.

These requirements ensure all Financial Institutions comply with their obligations under the FATCA and CRS laws and guidance.

If ANZ requests information from you, it is important that you respond as soon as possible. If you don’t provide the required information within a reasonable time frame, the law may require ANZ to do one or more of the following:

• Treat you as if you are a tax resident in a foreign country (although you may not be a foreign tax resident).
• Report your details (or the fact that you did not provide the requested details) to the relevant Tax Authority(ies).
• Not open your new account.
• Freeze or close your existing account(s).

Please ensure that you provide true, complete and accurate information to ANZ and if unsure, please seek advice from an independent advisor where required to assist with your Tax Residency or other relevant information. Please note that penalties may apply under local and other laws if you provide false or misleading information.

If you are a foreign tax resident (under taxation laws), your identity details, account balance and other information will be provided to the relevant Tax Authority(ies). The Tax Authority(ies) also receive your information if you have not responded to requests for further information as a result of being identified as a possible foreign tax resident. The Tax Authority then exchanges the information with the Tax Authority in the country(ies) of your tax residence(s).

All information reported under these laws is handled in confidence by the Tax Authorities and is protected by national laws, administrative practices, and binding international treaties. This is the same way that all taxpayer information is generally handled.