In accordance with the Malaysia United States Intergovernmental Agreement (IGA) on FATCA and relevant Malaysian legislation, our company is committed to complying with international tax reporting requirements and promoting transparency in financial transactions. FATCA is a U.S. law aimed at preventing tax evasion by U.S. persons through foreign financial accounts. Under the Malaysia-US Model 1 IGA, Malaysian financial institutions and entities are required to identify and report accounts held by U.S. taxpayers to the Inland Revenue Board of Malaysia (IRBM). The IRBM, in turn, exchanges this information with the U.S. Internal Revenue Service (IRS).As part of our due diligence and reporting obligations, we may request certain information from our customers, clients, or account holders to determine FATCA status, including but not limited to:
• U.S. citizenship or residency status
• Taxpayer Identification Number (TIN)
• Place of birth or residency
• Account balances and income derived from U.S.-sourced assets
• Identity of controlling persons for entity accounts
By providing the requested information, you consent to the collection, use, and disclosure of your information to tax authorities solely for the purpose of FATCA compliance. Failure to provide required information may result in classification as a non-participating foreign financial entity and may subject payments to U.S.-sourced income to 30% withholding tax. MyANGKASA Amanah Berhad will safeguard your personal and financial information with high standards of security and confidentiality, in accordance with Malaysian law and the obligations under FATCA. We encourage any individual or entity who may be a U.S. person or have U.S. connections to provide accurate information and update us promptly should there be any changes in circumstances.
For more information about FATCA, please refer to:
• IRBM FATCA Website
• U.S. IRS FATCA Overview
This statement applies to all accounts, clients, and entities under our administration and is effective as of the date displayed on this website.