OakNorth Bank Plc is required to report your tax details under the legal obligations introduced by countries/jurisdictions participating in the CRS and/or FATCA.
OakNorth Bank Plc will respect your data privacy. We will disclose your tax information to the relevant tax authorities where we are legally required to do so. Please refer to our Privacy notice for further details.
Depending on the circumstances, the account may be reportable or not reportable to the tax authorities. Broadly speaking, this will depend on the tax residency of your entity, the type of your entity and the tax residency of the Controlling Persons. If there is no indication of tax residency outside of the UK, the account will typically not be reportable, however, we still need you to complete the self-certification in order to confirm the correct status.
However, should any of the circumstances change or where there is subsequently an indication of tax residency outside of the UK, your account might become reportable.
You are required to inform OakNorth Bank Plc as soon as possible of any changes to the information provided in your self-certification form for your account. OakNorth Bank Plc must be notified no later than within 30 days of such change.
The information reported to tax authorities will have been provided in the self-certification form, and details about the accounts and products you have with us, including but not limited to: