Foreign Account Tax Compliance Act (FATCA) is a law whereby, USA has entered into Inter- Governmental Agreement (IGA) with India on 9th July 2015 whereby India will provide information to USA about policies held by US persons. To implement this, certain new sections under Income Tax Act, 1961 has been introduced which requires Life Insurance Companies to provide information to the Indian tax authorities, which will then be transmitted to the USA.

Apart from Agreement with USA, other countries have also entered an agreement, known as Common Reporting Standard (“CRS”) for exchange of information.

For your Axis Max Life policy the term FATCA means updation of your FTIN (Foreign Ta Identification Number)  through self-certification form along with foreign address proof, collection of OVD Proof & FTIN document.

*FTIN-Foreign Tax Identification Number

*OVD- Official Valid Proof such as Aadhar, Passport, Driving License ,Voter ID or NAREGA Job Card

I want to update my NRI (FATCA) details

Online:-

For your convenience, you can update FATCA details online. Click here to update

Alternatively you may submit the following documents at any Axis Max Life branch or send them to us by email at NRI.Helpdesk@maxlifeinsurance.com or service.helpdesk@maxlifeinsurance.com from your registered email ID.

●     Self-Certification Form

●     Valid KYC proof, such as Aadhar, Passport, Driving License ,Voter ID or NAREGA Job Card

●     FTIN number with document proof*

I want to change my nationality

For your convenience, you can update FATCA details online. Click here to update

Alternatively you may submit the following documents at any Axis Max Life branch or send them to us by email at NRI.Helpdesk@maxlifeinsurance.com or service.helpdesk@maxlifeinsurance.com from your registered email ID.

• Duly filled and signed request letter

• Valid KYC proof

• Self-Certificate Form and FTIN number with document proof.

* If changing nationality to anything other than Indian

I am NRI but I don’t have an FTIN number, what document and number can be provided in absence of FTIN no.

Refer below list of documents which can be mentioned in absence of FTIN number.

Country Name	List of Documents Required
Australia	Please provide "Tax File number (TFN)" in absence of FTIN number along with proof
Bahrain	Please provide " Bahrain ID Or Central Population Register Number" in absence of FTIN number along with proof
Canada	Please provide " Social Insurance Number (SIN)" in absence of FTIN number along with proof
China	Please provide "Resident ID Number or Card" in absence of FTIN number along with proof
Germany	Please provide "Personal Identification Number / Health Insurance Number" in absence of FTIN number along with proof
Hong Kong	Please provide "Hong Kong Identity (HKID) Or Hong Kong Permanent Identity/Business Registration Number" in absence of FTIN number along with proof
Italy	Dear Customer, You can upload "Passport or Residence Permit" in absence of FTIN number along with proof
Japan	Please provide "National Identity Number (My Number) Or Social Security and Tax Number" in absence of FTIN number along with proof
Kuwait	Please provide "Civil ID Card" in absence of FTIN number along with proof
Malaysia	Please provide "National Registration Identification Card (NRIC) Number or My Kad" in absence of FTIN number along with proof
Oman	Please provide "Resident Card" in absence of FTIN number along with proof
Qatar	Please provide "Personal Identification Number (PIN)" in absence of FTIN number along with proof
Saudi Arabia	Please provide "Saudi National ID/Residency ID" in absence of FTIN number along with proof
Singapore	Please provide "National Registration Identity Card (NRIC) / Foreign Individual Number (FIN)" in absence of FTIN number along with proof
United Arab Emirates	Please provide "Emirates Card ID" in absence of FTIN number along with proof
United Kingdom of Great Britain and Northern Ireland	Please provide "Unique Taxpayer Reference (UTR) Or National Insurance Number (NINO)" in absence of FTIN number along with proof
United States of America	Please provide "Social Security Number (SSN) Or Employer Identification Number (EIN)" in absence of FTIN number along with proof
South Africa	Please provide "South African Identity Number (ID) Or  South African Passport Number (Passport)" in absence of FTIN number along with proof
Netherlands	Please provide "Citizen's Service Number (BSN) Or Population Registration Number" in absence of FTIN number along with proof
New Zealand	Please provide "Inland Revenue Department Number / National Health Index Number" in absence of FTIN number along with proof
Other Countries	FTIN stands for Foreign Taxpayer Identification Number. This is a unique number issued by revenue department of your resident country. In case your country does not issue FTIN, any functional equivalent like Social Security Number, National Insurance Number, Resident Registration Number, Citizen or Personal Identification Code or Number etc. is acceptable along with proof

 

Please note:- As per the “Indian Income tax provisions” in case of any incomplete/inaccurate details shared in FATCA, penalty of Rupees Five Thousand will be levied per policy”