Prevention of Money Laundering

Return to all questions

What is FATCA?

On 1 July 2014, the Foreign Account Tax Compliance Act (FATCA) came into effect in the US, which requires financial institutions worldwide to identify US tax residents and their accounts and provide certain information about them to the US Internal Revenue Service (IRS). 

Regulatory enactments require Latvian financial institutions to identify whether there are persons among their customers who are US tax residents and, if such persons are identified, to report them to the Latvian State Revenue Service. 

More information on FATCA can be found on the US IRS website at https://www.irs.gov.

Are you satisfied with the answer?

Yes No

Message on the use of cookies

On our website, we use our own and third-party cookies to provide a better website and online service user experience and offer content and services which interest you, based on your habits. See more in our Cookie Terms and Conditions. You can agree to our use of cookies by selecting Confirm, or reject them by selecting Reject. You can also change or cancel your decision at any time by selecting Cookie Settings. If you choose to reject all cookies, our website will only save the functional cookies necessary for the website to function and be secure, and for which we do not require your permission.  

Cookie Settings
View full size image