{"id":5683,"date":"2024-10-04T15:43:55","date_gmt":"2024-10-04T15:43:55","guid":{"rendered":"https:\/\/minfin.cw\/?page_id=5683"},"modified":"2024-10-04T16:06:23","modified_gmt":"2024-10-04T16:06:23","slug":"what-data-is-required-and-what-happens-to-it","status":"publish","type":"page","link":"https:\/\/minfin.cw\/en\/fatca-crs-intro-en\/what-data-is-required-and-what-happens-to-it\/","title":{"rendered":"What data is required and what happens to it?"},"content":{"rendered":"<section class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;1\/3&#8243;][vc_custom_heading text=&#8221;Subpages&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221; el_class=&#8221;left-sidebar-title&#8221;][vc_wp_custommenu nav_menu=&#8221;280&#8243; el_class=&#8221;sidebar-menu&#8221;][\/vc_column][vc_column width=&#8221;2\/3&#8243;][vc_custom_heading text=&#8221;What data is required and what happens to it?&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text el_class=&#8221;esm-content&#8221;]If a financial institution determines that a customer (also) has a tax residence or domicile in another country, it will pass on all kinds of personal data about this customer to us, such as:<\/p>\n<ul>\n<li>name<\/li>\n<li>address<\/li>\n<li>date and place of birth<\/li>\n<li>country of residence or country of residence for tax purposes<\/li>\n<li>the tax identification number of the country of residence or country of establishment<\/li>\n<\/ul>\n<p>In addition, the financial institution provides, among other things, the following financial data:<\/p>\n<ul>\n<li>the account number or policy number (for insurance)<\/li>\n<li>the balance or value of the account<\/li>\n<li>the interest and dividend income<\/li>\n<li>the values \u200b\u200bof capital and annuity insurance policies<\/li>\n<li>the proceeds from the sale of financial products such as securities<\/li>\n<\/ul>\n<h3><strong>What happens to the data?<\/strong><\/h3>\n<p>If an account holder lives or is established in a CRS country, the financial institution in Cura\u00e7ao records the CRS data in its administration. She passes it on to us every year (deadline is September). We then pass on the data to the tax authorities of the country of residence or domicile.<\/p>\n<p>This works in a similar way in the other CRS countries. For example, we receive data from tax authorities from CRS countries about people and companies who have a financial account there and who have Cura\u00e7ao as their tax country of residence or domicile.<\/p>\n<h3><strong>Protection of personal data<\/strong><\/h3>\n<p>Before CRS countries exchange information, further agreements have been made. Also about the protection of personal data. The Organization for Economic Co-operation and Development (OECD) plays an important role in this.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/3&#8243;][vc_custom_heading text=&#8221;Subpages&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221; el_class=&#8221;left-sidebar-title&#8221;][vc_wp_custommenu nav_menu=&#8221;280&#8243; el_class=&#8221;sidebar-menu&#8221;][\/vc_column][vc_column width=&#8221;2\/3&#8243;][vc_custom_heading text=&#8221;What data is required and what happens to it?&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text el_class=&#8221;esm-content&#8221;]If a financial institution determines that a<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":5651,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_crdt_document":"","footnotes":""},"class_list":["post-5683","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/pages\/5683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/comments?post=5683"}],"version-history":[{"count":2,"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/pages\/5683\/revisions"}],"predecessor-version":[{"id":5732,"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/pages\/5683\/revisions\/5732"}],"up":[{"embeddable":true,"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/pages\/5651"}],"wp:attachment":[{"href":"https:\/\/minfin.cw\/en\/wp-json\/wp\/v2\/media?parent=5683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}