FATCA Information

FATCA is a 2009 United States federal law which requires that foreign financial institutions, such as WOOD, identify and report any financial accounts held by US persons to the Internal Revenue Services (IRS) via a national revenue service (in case of the Czech Republic it is the Specialized Tax Office).  The aim of FATCA is to prevent and detect tax frauds of US taxpayers abroad.

WOOD as a financial institution is registered with the IRS.To view our details, you may visit the FATCA Foreign Financial Institutions (FFI) List Search and Download Tool on the IRS website.

For your convenience, you can also view our details in the table below:

Headquarter/Branch GIIN Status
WOOD&Co. Prague 3AFX5L.00001.ME.203 Reporting Model 1 FFI
WOOD&Co. London 3AFX5L.00001.BR.826 Reporting Model 1 FFI
WOOD&Co. Warsaw 3AFX5L.00001.BR.616 Reporting Model 1 FFI
WOOD&Co. Milan 3AFX5L.00001.BR.380 Reporting Model 1 FFI
WOOD&Co. Bucharest 3AFX5L.00001.BR.642 Reporting Model 1 FFI


Under the FATCA agreement, it is WOOD & Company's obligation to conduct due diligence for new and existing accounts to classify account holders or investors as either US or non-US.

When individuals or firms fail to provide the appropriate documentation they will be subjected to withholding 30% in US taxes.

To download the W9 and W-8BEN forms, please go to the IRS website: http://www.irs.gov/pub/irs-pdf/fw9.pdf and http://www.irs.gov/pub/irs-pdf/fw8ben.pdf.

More information can also be found on the following links:




CRS (Common Reporting Standard) Information

In a response to development in the EU as regards automatic exchange of information in the field of taxation, where the EU and OECD prepared a common standard on reporting and due diligence for financial account information, so-called Common Reporting Standard (CRS), Directive No. 2014/107/EU has been implemented into Czech legislation under Act No. 164/2013 on international cooperation in tax administration.

WOOD's reporting obligation concerns its clients (both natural and legal persons) who are tax residents of countries participating in the automatic exchange of information. WOOD is obliged to report selected information about these clients once a year (as of 30 June) for the previous calendar year.

Client identification including all of the client's tax identification numbers (TINs), aggregated balance of their financial accounts (in particular, deposit accounts, investment products and capital-value insurance contracts) and the structure of the disbursed income (that is, interest, dividends and income from the sale of securities) will be reported.

What does it mean for clients?

WOOD identifies clients' tax obligations by using the client's Tax Domicile Statement. It is sufficient to complete the declaration only once and it is valid until the change of facts that may affect the client's tax obligations.

More information can also be found on the following links: