I hope the following information will be clear for everyone, including private citizens and businesses. Whether the company or person is a US entity, a citizen or resident, or not, completing the W-8BEN-E corporate and W-8BEN individual FATCA forms is a sine qua non for conducting business with a financial institution. (USA Citizen, Green Card, Residents, US Ties W9 form)

1. The forms state the entity's or person's status and the appropriate reporting bodies if they are a US-registered entity, US citizen, or US resident.

2. The forms serve as a sworn declaration that the entity or person is not obligated to report to any US regulatory authorities when the person or entity is not a US-registered entity or person. In this situation, the sworn declaration protects the financial institution and serves as proof that it has done its research and complied with all FATCA regulations.

Absolutely Mandatory

Both of these forms are necessary for dealing with any financial institution anywhere on the globe and are part of the proper requirements for compliance with international standards.

Please note the following customary procedures:

The financial institution flags them and denies their applications if any person or organization refuses to sign these declarations.

If any of the information provided is later determined to be fraudulent, the organization or individual could face legal consequences under FATCA requirements.