The Foreign Account Tax Compliance Act (FATCA) is a U.S. law introduced in 2010 and effective July 1, 2014. It was enacted in order to assist the U.S. Internal Revenue Service (IRS) in detecting and discouraging tax evasion by U.S. taxpayers holding undeclared accounts and investments with foreign financial institutions.
FATCA requires the imposition of a 30 percent withholding tax on certain U.S. source payments (including insurance or reinsurance premium), unless the recipients of such payments provide documentation to support their exemption from this withholding tax. We are committed to being fully FATCA compliant in all countries where we operate.
Under the provisions of FATCA, payers making payments to Ariel Re may need to obtain certain documentation from us. Form W-8BEN-E or W-8IMY is required from non-U.S. entities such as Ariel Re.
IRS Form W-8IMY is used for our intermediary companies (Ariel Re Bda Limited and Ariel Syndicate 1910, trading as a member of Lloyd’s of London) and form W-8-BEN-E applies to entities which have beneficial ownership of premium income (Argo Re, Ltd).
If you are making insurance or reinsurance premium payments, you can download a copy of all applicable forms through the links below.
Ariel Re Bda Limited
Ariel Syndicate 1910, trading as a member of Lloyd’s of London
Argo Re, Ltd.
Any questions regarding FATCA should be sent to firstname.lastname@example.org.
Information on FATCA can also be obtained from the Foreign Account Tax Compliance Act section on irs.gov.
Please consult your advisor for any tax advice in connection with all forms provided through the links above.