FATCA a polscy ubezpieczyciele
FATCA and Polish insurers

Summary/Abstract: The American Foreign Account Tax Compliance Act of 2010 puts on foreign financial institutions, includ- ing insurance companies, new obligations related to providing information on US tax residents to federal tax authorities. Participation in FATCA system will be based on civil law agreements concluded by foreign financial institutions with US tax authorities or on international agreements concluded with US federal authorities. Fulfilment by foreign financial institutions of the obligations under FACTA may, in certain cases, breach local legal systems of the countries in which the financial institutions are established. The article presents the origins and main aims of FACTA adoption. Furthermore, it defines the extent to which FACTA regulation will apply in terms of entities and subject matter, as well as discusses basic obligations of foreign financial institutions. It also indicates areas of the Polish legal system which may be breached if the US regulation is used, and practical problems related to fulfilment of the obligations by foreign financial institutions.

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