Ch.5 · NFO Process and Rules · hard
What is 'FATCA' and why is it relevant to mutual fund scheme disclosures?
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EXPLANATION
FATCA (Foreign Account Tax Compliance Act) is a US law that requires foreign financial institutions — including Indian AMCs — to identify accounts held by US persons and report them to US tax authorities (IRS). Indian mutual fund investors must submit FATCA self-certification. Some AMCs restrict investment by US/Canadian persons due to FATCA compliance complexity.
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