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).