Automatic Exchange of financial accounts held by US persons is exchanged based on the Agreement between the Government of the Kingdom of Saudi Arabia and the Government of the United States of America for the Improvement of International Tax Compliance and the Implementation of the Foreign Accounts Tax Compliance Act (FATCA)
Beneficiaries of the service
Reporting Saudi financial institutions and branches of foreign institutions registered in the Kingdom that maintain US Reportable accounts.
What you will need
The financial institution must have a GIIN number obtained by registering at with the Internal Revenue Service (Internal Revenue Service).
The financial institution shall identify a authorized person as an admin user of the system.
Service Level Agreement (SLA)
one business day