The Foreign Account Tax Compliance Act is a United States federal law that aims to combat evasion of tax payments, which is or might be carried out by entities subject to FATCA.
FATCA requirements were introduced in the territory of the Republic of Latvia on July 1, 2014 based on the law of the Republic of Latvia “On the Agreement between the Government of the United States of America and the Government of the Republic of Latvia to Improve International Tax Compliance and to Implement FATCA”.
To observe FATCA requirements, AS “Reģionālā investīciju banka” ensures collection and processing of information, as well as its transfer to the State Revenue Service of the Republic of Latvia once a year, starting from 2015, in line with requirements set forth in normative acts of the Republic of Latvia regarding the customers that comply with the status of an entity subject to FATCA. For this purpose, the Bank requests its Customers to fill in and submit necessary forms, specifying information regarding their tax residence and taxpayer’s number as well as enclosing certifying documents (e.g. US Internal Revenue Service tax forms or other documents).
More detailed information on FATCA is available here:
https://www.irs.gov/businesses/corporations/foreign-account-tax-compliance-act-fatca
https://likumi.lv/doc.php?id=270871
https://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATCA.aspx
US Internal Revenue Service tax forms and instructions are available here:
https://www.irs.gov/forms-instructions