Foreign Tax Residency Information (30 June 2017)

The Common Reporting Standards (CRS) is the single global standard for the collection, reporting and exchange of financial account information on foreign tax residents. Under this standard, Australian banks and other financial institutions are required to collect and report financial account information of tax residents of any country outside Australia to the ATO, effective from 1 July 2017. The ATO will exchange this information with the participating foreign tax authorities of those non- tax residents. 

From 30 June 2017, our application and customer identification forms, available at https://www.pendalgroup.com/application-customer-identification-forms/, will request additional information from new investors, and existing investors investing in a new fund, to meet our obligations under CRS. We will also require additional information for any Controlling Person* of the investor.

We will no longer be accepting FSC/FPA forms as part of the customer identification process. 

If at any time after account opening, information in our possession suggests that the investor and/or any Controlling Person of the investor may be a tax resident of a country outside Australia, you may be contacted to provide further information on the foreign tax residency status of the investor and/or any Controlling Person. Failure to respond may lead to certain reporting requirements applying to the account.  

If you have any questions, please contact the BT Customer Relations on 1800 813 886 between 8.00am and 5.30pm (Sydney time), Monday to Friday.

*A Controlling Person refers to the individual(s) that directly or indirectly own a legal interest in the entity of 25% or more and/or exercises actual effective control over the entity, whether from an economic or other perspective such as through voting rights. Where no individuals are identified as exercising control of the entity through ownership interests, the Controlling Person of the entity is deemed to be the individual(s) who hold the position of senior managing official. In addition, in the case of a trust, Controlling Person incudes the settlor(s), trustee(s), appointer(s), protector(s) or classes of beneficiaries and in the case of an entity other than a trust, the term includes persons in equivalent or similar positions.