What is FATCA, and do I need to submit any FATCA documents?

The Foreign Account Tax Compliance Act (FATCA) is a U.S. law that requires U.S. taxpayers — including citizens, Green Card holders, and certain U.S. residents — to report and pay taxes on income or assets held outside the United States. This means that if you are a U.S. tax resident, your global income may be subject to U.S. taxation, even if your money is kept in another country, such as the Philippines.

FATCA also requires foreign financial institutions, including GoTyme Bank, to collect and report information about customers who may have U.S. tax obligations. This ensures that banks comply with international tax transparency and reporting standards.

Who needs to submit FATCA documents?

You only need to provide FATCA-related documents if you have U.S. indicia — meaning signs that suggest a possible U.S. tax residency. Examples of U.S. indicia include:

• A U.S. passport, citizenship, or Green Card
• A U.S. address or U.S. phone number
• A place of birth in the United States
• Employment or business ties in the U.S.
• Tax obligations or filing requirements with the U.S. Internal Revenue Service (IRS)

If any of these apply, you will be required to complete the Tax Declaration Form in the GoTyme Bank app and provide your U.S. Tax Identification Number (TIN or ITIN) as part of FATCA compliance.

If you have no U.S. ties

If you are not a U.S. citizen, resident, or taxpayer, and you do not have any U.S. indicia, then FATCA does not apply to you. You will only need to declare your Tax Residency (for example, the Philippines or another country where you pay taxes) — no FATCA documents or TIN are required.

Note: GoTyme Bank is required by law under Bangko Sentral ng Pilipinas (BSP) and FATCA regulations to collect this information.