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FATCA Non-Compliant Mutual Fund Accounts to be Blocked After April 30
May 02, 2017
According to an order released by the finance ministry on April 11, 2017, all the mutual funds accounts opened between July 1, 2014, and August 31, 2015, that are not FATCA compliant face the risk of being blocked. So, if you haven’t submitted FATCA declaration in mutual fund investments yet, you should do so before April 30, which is the official deadline.
Although the government has imposed FATCA compliance only for the accounts opened between July 1, 2014, and August 31, 2015, it is a good practice to have your accounts/folios meet with the FATCA criteria regardless of whether you come in the category or not.
