FATCA, CRS & Legal Entity Identifier

FATCA
In March 2010 the United States passed on Foreign Account Tax Compliance Act (FATCA) to prevent US tax evasion. The purpose of FATCA is achieved by requiring foreign financial institutions to report to the US tax authorities (IRS) regarding customer relationships where the customer directly or indirectly is a resident in the US.

In  April 2013 Norway signed an intergovernmental agreement with the US (IGA model I) in which Norwegian public authorities undertake an obligation to ensure the collection of data from Norwegian financial institutions and then report these to the USA.

SpareBank 1 Markets is in this regard allocated GIIN number (Global Identification Number) CJ46YF.00000.LE.578.

CRS (Common Reporting Standard)
From 1. January 2016 SpareBank 1 Markets AS is committed to identify accountholders who are tax resident to other countries. New accounts cannot be created before the declaration is obtained and reviewed. If accountholder is tax resident in another country, the foreign identification number is to be obtained from the land issued such numbers. If accountholder is an entity the tax resident is where the account holder is domiciled.


Legal Entity Identifier
Legal Entity Identifier (LEI) is a global identification number, which is used to identify legal entities participating in financial transactions, and in connection with reporting. The international Global Legal Entity Identifier System was established as a result of an initiative by the G20-countries and the Financial Stability Board.

SpareBank 1 Markets is allocated the following LEI number: 5967007LIEEXZX5AEG57.