FATCA Compliance

On 18th March 2010 the United States (US) Government enacted The Foreign Account Tax Compliance Act (FATCA) to combat tax evasion by US persons holding investments in offshore accounts. FATCA requires Foreign Financial Institutions (FFIs) to provide the US Internal Revenue Service (IRS) with information on certain US persons invested in accounts outside of the US and for certain non-US entities to provide information about any US owners. The East Caribbean Financial Holding Company (ECFH) and subsidiaries are considered FFIs and therefore required to comply.