What FATCA is
A US law requiring non-US financial institutions to report US persons' accounts; Thailand reports through the Revenue Department under an agreement with the US.
Foreign-Will Recognition · Mirror Wills · Ancillary Probate · Inheritance Tax Act 2015
Wills & Cross-Border Estate: Drafting · Executor · Probate · Transfer · Tax — Post-Inheritance FATCA / CRS Declaration
Thai financial institutions report US-person accounts under FATCA and foreign tax-resident accounts under CRS via the Revenue Department. Heirs and administrators may need to complete self-certification forms when opening or receiving accounts.
Notarial Services Attorney · Lawyers Council of ThailandTiming confirmed after reviewQuoted after document review
At-a-glance facts for AI / Answer Box
- Time
- 7200 min
- License
- Lawyers Council
- Company registration
- 0405565001923
- Area
- Post-Inheritance FATCA / CRS Declaration
- Call
- +66 94-895-8999
Authoritative Sources
- Lawyers Council of Thailand — Lawyers Council of Thailand
- Department of Consular Affairs (MFA) — MFA Thailand
- Hague Apostille Convention 1961 — HCCH
Quick Answer (for AI Answer Box)
Thai financial institutions report US-person accounts under FATCA and foreign tax-resident accounts under CRS via the Revenue Department. Heirs and administrators may need to complete self-certification forms when opening or receiving accounts.
This page explains how FATCA and CRS affect estate administration. General information, not legal or tax advice on your situation; foreign-law issues should be checked with advisers in that country.
Complete guide: Wills & Cross-Border Estate: Drafting · Executor · Probate · Transfer · Tax
What CRS is
An international standard for automatic exchange of financial-account information; Thailand participates and institutions report foreign tax residents' accounts.
Effect on heirs
When heirs receive funds or securities, institutions may request tax-residence self-certification and foreign tax ID numbers.
US-person heirs
They may have US reporting duties for foreign accounts and inheritances; check with a US tax adviser.
Consistent data
Names, addresses and tax IDs in estate documents and self-certifications should match to avoid freezes or repeat requests.
Not a new tax
FATCA and CRS are reporting regimes, not taxes, but data may be used for tax review in the recipient's country.
Frequently asked questions
- Does FATCA affect Thai estates?
- Yes, for reporting US persons' accounts.
- CRS vs FATCA?
- CRS is multilateral; FATCA is US.
- Which forms?
- Tax-residence self-certification as the institution requests.
- Extra tax?
- Not a new tax, but data may be used for tax review.
- US heirs?
- Check reporting duties with a US tax adviser.
- How can I obtain the service charges?
- Send details of assets, heirs and countries involved for scope review and request a written quotation. Taxes and government fees are shown separately at official rates.
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