FATCA Declaration for NRIs: What it is and How to Submit it
Disclaimer: This article is for general information/education and is not investment advice. The information is shared in good faith and for general informational purposes only. Ujjivan SFB does not make any representations or warranties regarding the accuracy, completeness, or reliability of the content.
October 29, 2026
When you open an NRI bank account or update your investment records in India, you may be asked to complete a FATCA declaration. FATCA (Foreign Account Tax Compliance Act) is a US law concerning the reporting of certain financial accounts held outside the US.
In India, you will often encounter a combined FATCA/CRS declaration. CRS stands for Common Reporting Standard and covers tax-information exchange between participating jurisdictions. This is why you may need to complete the declaration even if you live outside the US. The form helps your financial institution establish your tax status. Knowing which details to provide and how to submit them can help you complete the process accurately.
Why are NRIs Asked for a FATCA/CRS Declaration?
Your bank or investment provider needs to determine whether your account falls within the applicable tax-information reporting requirements. Your self-certification provides information it uses to make that assessment.
Under the India–US FATCA agreement, reporting Indian financial institutions provide relevant account information to Indian authorities for exchange with the US. You generally submit your declaration to the institution handling your account. Although FATCA and CRS information is often collected together, the two frameworks have different scopes:
Point of Comparison | FATCA | CRS |
| Main Focus | Relevant accounts held by US persons | Relevant accounts held by tax residents of participating jurisdictions |
| Information Relevant to You | US citizenship and tax-residency information | Country or countries of tax residence |
| Why You May Be Asked | To establish whether you have reportable US status | To establish your position under the applicable tax-residency reporting rules |
Completing the declaration does not itself create a new tax liability or replace your tax return. It records information used for classification and reporting.
When Do You Need to Submit It?
You may be asked to provide a FATCA declaration when you:
The process varies between institutions. Your declaration may form part of account opening or appear as a separate update. Before completing it, check whether the request covers a particular account, several accounts or investment folios.
What Details Do You Need to Provide?
An individual FATCA/CRS declaration commonly asks for:
Some forms combine these questions with supplementary KYC information, such as occupation and income details.
Your citizenship, current address and tax residence can differ. For example, holding an Indian passport does not necessarily mean India is your only country of tax residence. Check the applicable tax-residency rules before answering, particularly if you have recently moved countries.
What Supporting Documents May Be Required?
Your institution may request documents to verify your answers or resolve inconsistent information. Depending on your circumstances, these could include:
Additional evidence may be required where your records indicate a US connection. For example, if you have a US birthplace but declare that you are neither a US citizen nor a US tax resident, the institution may request a non-US passport and citizenship-related evidence or an explanation.
These are conditional requirements. You do not necessarily need every document listed above. Follow the checklist supplied for your declaration.
How Do You Submit the Declaration?
You can generally follow these steps, adapting them to your institution’s process.
1. Access the Current Form or Online Facility
Use the institution’s official website, authenticated account portal or authorised service channel. Where available, you may complete the declaration online. Alternatively, obtain its current physical form.
2. Enter Your Personal and Tax Details
Complete the requested information using your supporting records. Include all relevant tax residences and answer any separate questions concerning citizenship or US status.
3. Provide TINs or the Required Explanation
Enter the identification number and its type for each relevant country. If a TIN is unavailable, select the appropriate reason and provide any explanation or evidence requested. An unavailable number requires consideration of the country’s rules and your circumstances. Having no tax payable does not automatically establish that a TIN is unnecessary.
4. Attach Supporting Documents
Upload or attach the documents requested for your case. Check whether copies need self-attestation or another form of certification.
5. Sign or Authenticate the Declaration
Read the declaration before confirming it. A physical form generally requires your signature and date. An online process may use an OTP or another approved authentication method. Digital submission and authentication facilities are available through some financial-service platforms.
6. Submit and Retain the Acknowledgment
Submit through the designated channel and keep a copy or reference number. If you are abroad, confirm whether the institution accepts a digital submission, uploaded signed form or postal documents. Check the completion status afterwards. An acknowledgment may confirm receipt while further verification remains pending.
What Should You Check Before Submitting?
Review the completed declaration for the following:
Your Indian PAN should not be entered as a substitute for a foreign TIN merely because you hold one.
If your institution requests a US tax form, check which applies. Form W-9 generally provides a US person’s taxpayer identification details. Form W-8BEN generally establishes an individual’s non-US status for relevant US withholding and reporting purposes. Your NRI description alone does not determine which form you should use.
When Should You Update Your Declaration?
Notify your institution when information relevant to your declaration changes. This may include a change in tax residence, citizenship, address or TIN, or another development that makes an earlier answer inaccurate.
Follow the notification period stated in the declaration or communicated by the institution. Avoid assuming that an address update automatically changes your tax-residency records.
SEBI has introduced centralised FATCA/CRS certification records through KYC Registration Agencies for securities-market intermediaries. However, confirm which accounts and providers have received and accepted your current information.
Final Thoughts
Your FATCA/CRS declaration helps your financial institution record your tax status and assess its reporting obligations. Before submitting it, check your countries of tax residence, provide the relevant identification details and explain any missing information through the prescribed process.
Keep the acknowledgment and update changes that affect your answers. Following the requirements of each relevant provider can help you maintain accurate account records as your circumstances change.
Disclaimer:
The contents herein are only for informational purposes and generic in nature. The content does not amount to an offer, invitation or solicitation of any kind to buy or sell, and are not intended to create any legal rights or obligations. This information is subject to updation, completion, amendment and verification without notice. The contents herein are also subject to other product-specific terms and conditions, as well as any applicable third-party terms and conditions, for which Ujjivan Small Finance Bank assumes no responsibility or liability.
Nothing contained herein is intended to constitute financial, investment, legal, tax, or any other professional advice or opinion. Please obtain professional advice before making investment or any other decisions. Any investment decisions that may be made by you shall be at your own sole discretion, independent analysis and evaluation of the risks involved. The use of any information set out in this document is entirely at the user's own risk. Ujjivan Small Finance Bank Limited makes no representation or warranty, express or implied, as to the accuracy and completeness of any information herein. The Bank disclaims any and all liability for any loss or damage (direct, indirect, consequential, or otherwise) incurred by you due to use of or due to investment, product application decisions made by you on the basis of the contents herein. While the information is prepared in good faith from sources deemed reliable (including public sources), the Bank disclaims any liability with respect to accuracy of information or any error or omission or any loss or damage incurred by anyone in reliance on the contents herein, in any manner whatsoever.
To know more about Ujjivan Small Finance Bank Products Visit:"https://www.ujjivansfb.bank.in"
All intellectual property rights, including copyrights, trademarks, and other proprietary rights, pertaining to the content and materials displayed herein, belong to Ujjivan Small Finance Bank Limited or its licensors. Unauthorised use or misuse of any intellectual property, or other content displayed herein is strictly prohibited and the same is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person's nationality, residence or otherwise) be contrary to law or registration or would subject Ujjivan Small Finance Bank Limited or its affiliates to any licensing or registration requirements.
