7. I am a citizen and resident in a country in which Nedbank has a subsidiary (Eswatini, Lesotho, Namibia, Zimbabwe). I have no connections to the US whatsoever and neither do I have foreign tax obligations, but I do have an account with Nedbank. Am I subject to the Foreign Account Tax Compliance Act (FATCA) and/or Common Reporting Standard (CRS)?

Even though you have no connections to the US, or have no foreign tax obligations, you will still need to confirm whether or not, you are a US Person* and/or have tax obligations, tax liabilities or tax residencies outside of your country of onboarding.  

Nedbank will request you to provide us with a Nedbank FATCA and CRS Individual and Controlling Person Self-certification form.

Nedbank may also have to request additional documentation if we have reason to believe that your circumstances have changed.

*For any defined terms please see the Table of terms and definitions.