Tax Administration Act, 2011 (Act No. 28 of 2011)
Returns to be Submitted by Third Parties in terms of Section 26 of the Tax Administration Act, 2011 (Act No. 28 of 2011)
2. Reporting financial institution required to submit third party returns
A reporting financial institution is required to submit a return—
|(a)||in the form of a data file compiled in accordance with the BRS: FATCA AEOI return;|
|(b)||containing the information referred to in the intergovernmental agreement as further specified in the BRS: FATCA AEOI return; and|
|(c)||in respect of a person who is a Specified U.S. Person that is an Account Holder of a U.S. Reportable Account and, in the case of a Non-U.S. Entity that, after application of the due diligence procedures set forth in Annex I, is identified as having one or more Controlling Persons that is a Specified U.S. Person.|
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