FATCA (Foreign Account Tax Compliance Act) is U.S. law that affects banks, financial institutions, and other economic operators worldwide. The purpose of FATCA is to limit tax evasion by U.S. citizens who hold foreign accounts with banking and other financial institutions in various countries. Namely, information about your tax status may be searched if you are a U.S. citizen or if you have financial assets in U.S. territories.
If you are a U.S. citizen or a green card holder, you will need to provide your SSN/ITN number for tax compliance purposes. You can enter it into your profile under the ‘SSN/ITN declaration’ option in the ‘Account details’ section.
To do this, follow these steps:
1. On the app’s home page, select your avatar or photo to go to your profile.
2. On your profile page, select 'Account details'.
3. Select ‘SSN/ITIN Declaration’ at the bottom of the page.
4. Then enter the SSN/ITN number in the relevant field and select save.
5. Upon successful completion of the process, the following image will be displayed.