FATCA (Foreign Account Tax Compliance Act) is legislation enacted by the United States of America which has been in effect internationally since 1 July 2014. It is a set of regulations designed to ensure that accounts held in foreign financial institutions (outside USA) comply with US tax laws.
FATCA obliges non-US financial institutions to provide the IRS (United States Internal Revenue Service) with data on accounts held by clients whose status is confirmed as being subject to USA tax.
ProCredit Bank d.d. Sarajevo is also obliged to comply with FATCA regulations and is registered with the US IRS as a: “Participating Financial Institution not covered by an IGA”, the “Global Intermediary Identification Number” is GIIN: IZE7QS.00003.ME.070.