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If you open a new bank account, invest in new financial products or change your circumstances in some way, we will ask you to docHub a number of details about yourself. This process is called self-certification and we are required to collect this information under the CRS.
Generally, all new clients are expected to provide the relevant CRS form to open any new financial account with the Bank. If you do not respond to the Banks request for a self-certification and depending on the details on your record, the Bank may need to treat your account as a reportable account.
In order to be eligible to apply for a TRC, the legal person must have been established for a period of at least one year. Financial accounts must be audited or prepared by an accredited audit firm and attached with other required documents to the application. The report must be certified and stamped by the audit firm.
Entity. Under Common Reporting Standard (CRS) this is as a legal person or arrangement such as a corporation, organisation, partnership, trust or foundation. An entity is any customer that holds a business account, product or service. Under CRS, sole traders are not entities but individuals.
If you are a personal banking customer or a sole trader complete an Individual Self-Certification Form (CRS-I). Similarly, if you are a controlling person of an entity, complete a Controlling Person Self-Certification Form (CRS-CP). You can find these forms at .crs.hsbc.com.
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The CRS FATCA Self-certification form will ask you to confirm the following: Your full name. Your date of birth. Your country, town/city of birth. Your citizenship. Your current residence, and if applicable, mailing address. Whether you are a US Person. Your country/countries of residence for tax purposes.

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