International tax reporting (FATCA and CRS)

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The Norwegian government has signed international agreements on the exchange of information on financial assets, FATCA and CRS. The agreements imply that DNB is under a legal obligation to provide information to the Norwegian Tax Administration about customers who are resident for tax purposes in a country outside Norway. The Tax Administration forwards the information to the respective countries.
 

What is the FATCA agreement?

As Norway and the United States have entered into an agreement on the Foreign Account Tax Compliance Act (FATCA), DNB is, as a financial institution, required to report financial assets to the Norwegian tax authorities, which will forward the information to the US tax authorities. US citizens are resident for tax purposes in the US and will be reported on the basis of their citizenship.

What is the CRS agreement?

The Common Reporting Standard (CRS) is an international framework for the automatic exchange of information on financial assets between tax authorities in different countries. More than 100 countries have signed the agreement, including Norway and all EU member states
 

Why do we need a self-declaration?

To ensure that we report the correct information to the Norwegian Tax Administration, we need updated information from you. If you are a resident outside of Norway for tax purposes, it is important that you send us a completed and signed declaration together with any documentation showing where you are resident for tax purposes.

The documentation you submits has to be in Norwegian or English. 

Self-declaration form

The self-declaration form must be completed and signed, and returned together with any documentation for exemption of tax liability.

Return the self-declaration to:
DNB Bank ASA
FATCA/CRS
P.O Box 1600, Sentrum
N-0021 Oslo
Norway
 

Frequently asked questions

What does tax residency mean?

The conditions for being considered as tax resident in a country depend on the country's internal law. In Norway you will be deemed to be a tax resident if you have stayed in the country for more than 183 days in the course of one year, or for more than 270 days during three years. If you live outside Norway, you will usually be tax resident in the country you live in. If you are in doubt whether you are tax resident in a country, you must contact the tax authorities in the relevant country to clarify this.

What is a TIN number?

A Tax Identification Number (TIN) is the number used by the tax authorities and other agencies to identify individual persons. The number will typically be found on documents received from the tax authorities, but can in some cases also be found in passports, national ID cards, driver's licenses and other official documents.

Examples of TINs

DK: CPR number (private individuals)
SE: Personal identity number (private individuals)
NO: National identity number (private individuals) or D number (temporary)
FI: Social security number (private individuals)
United States: Social security number (private individuals)

More information about the various countries’ TIN numbers can be found at www.oecd.org

A Tax Identification Number (TIN) is the number used by the tax authorities and other agencies to identify individual persons. The number will typically be found on documents received from the tax authorities, but can in some cases also be found in passports, national ID cards, driver's licenses and other official documents.

 

Examples of TINs

DK: CPR number (private individuals)

SE: Personal identity number (private individuals)

NO: National identity number (private individuals) or D number (temporary)

FI: Social security number (private individuals)

United States: Social security number (private individuals)

 

More information about the various countries’ TIN numbers can be found at www.oecd.org.

 

See also this link for more info: http://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/

What information do I need to obtain and send to my bank?

You have to send us a self-declaration form. The self-declaration form must be completed and signed, and returned together with any documentation for exemption of tax liability.

The information needs to be in norwegian or english.

Return the documents to: 

DNB Bank ASA
FATCA/CRS
P.O Box 1600, SentrumN-0021 Oslo
Norway

What is valid documentation to prove that I am not tax resident in another country?

• Completed and signed self-declaration form 

In addition, you must send us

• A copy of your passport or other identity card issued by the authorities in the country in which you claim to be resident fortax purposesor 
• Documentation from the tax authorities showing that you are a tax resident in the country you have specified

US citizens will be reported to the United States on the basis of their citizenship. If, to the best of your knowledge, you are not tax resident in the United States, you must provide documentation that you are no longer a US citizen.

You will find more information about this on the website of the Norwegian Tax Administration.

Why are US citizens reported on the basis of their citizenship?

Tax residency in Norway and most other countries is determined according to rules that have criteria relating to residence.

In the US, the tax system is based on both tax residency and citizenship. Thus, US citizens are tax resident in the United States on the basis of their citizenship, and that is why Norwegian financial institutions must register information about whether they have customers who are US citizens.

If a financial institution where you are a customer has information that you are or may be a US citizen, you may be asked to confirm or deny this.

I was born in the United States, but I do not have a US citizenship. How can I prove that I am not resident for tax purposes in the United States?

If, to the best of your knowledge, you were not granted US citizenship at birth, please provide us with a reasonable explanation of why, as well as a

• Completed and signed self-declaration form
• A copy of your passport or other identity card issued by the authorities in the country in which you claim to be resident for tax purposes, or documentation from the tax authorities showing that you are a tax resident in the country you have specified

Why does DNB report customers who are tax resident in countries that do not participate in CRS?

As a financial institution, DNB is required to provide information to the Norwegian Tax Administration about where its customers are resident for tax purposes. In Norway, this duty applies irrespective of which country you are tax resident in. It is subsequently the Tax Administration that takes care of further reporting to other countries, and any questions about which countries this applies to must be addressed to them.

Is DNB the only bank that reports information on financial assets to the Tax Administration?

No, all Norwegian financial institutions are now obliged to obtain and provide information to the Tax Administration about where their customers are resident for tax purposes.

How will I know if I have been reported?

Customers who are reported will receive a letter about this in March 2020.

What does it mean to be reported?

For answers to questions about the consequences of being reported, you must contact the Norwegian Tax Administration.

I believe that DNB has reported incorrect information about me to the Tax Administration. What can I do?

If you believe we have reported incorrect information, you must file a written complaint from your online bank.
 

Other information

All information we receive in this connection is treated confidentially in accordance with the bank's duty of confidentiality and will not be used for any other purposes.

As DNB cannot provide tax advice, we ask you to contact your local tax authorities if you have questions on how to complete the self-declaration form.

For more information about international tax reporting, see the website of the Norwegian Tax Administration: International reporting (CRS and FATCA).