Compliance & Regulatory


Foreign Account Tax Compliance Act (FATCA)

FATCA is regulatory legislation from the United States (US) Treasury and US Internal Revenue Service (IRS) which is designed to encourage enhanced tax compliance and transparency with respect to US persons who may be investing and earning income through financial institutions or entities outside  the US.

FATCA legislation will affect both individual and corporate customers who are treated as a ‘US person’ for US tax purposes. The FATCA legislation will also affect certain types of businesses with US owners.

Impact to Bank Leumi (UK) plc and our customers

Bank Leumi (UK) plc has made a commitment to be fully FATCA compliant from 1 July 2014. We have reviewed our existing customer base to ensure that all of our customers’ are correctly classified into the relevant FATCA definitions.

FATCA affects some of our customers.  The impact on our customers will depend on factors such as the type of account held with us, and whether any customer is   a US person.

We may have to contact our customers for further information and documentation to identify whether you are a US person.

The term US person includes the following (but is not limited to):

  • A citizen of the USA, including an individual born in the US but resident in another country (and who has not given up their US citizenship)
  • A person residing in the USA, including US Green Card holders
  • US corporations, US partnerships, US estates and US trusts

FATCA also captures certain non US entities, where the controlling persons are US persons.

If you are a US person under FATCA, Bank Leumi (UK) plc will be required to report information about you and your account to the local tax authority (? HMRC) on an annual basis.


For more information regarding FATCA, please contact your Relationship Manager.