Notification of Prescribed Form for Transmission of Sensitive Personal Information Under TIEAA

[LOGO] CENTRAL BANK OF TRINIDAD & TOBAGO Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 625-4835; 4921; 5028; Fax: (868) 627-4696 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt

March 1, 2018

CIRCULAR LETTER ISSUED TO: FINANCIAL INSTITUTIONS & FINANCIAL HOLDING COMPANIES UNDER THE FINANCIAL INSTITUTIONS, ACT 2008 INSURANCE COMPANIES UNDER THE INSURANCE ACT CHAP 84:01

COPIED TO: BANKERS ASSOCIATION OF TRINIDAD AND TOBAGO ASSOCIATION OF TRINIDAD AND TOBAGO INSURANCE COMPANIES INSTITUTE OF CHARTERED ACCOUNTANTS OF TRINIDAD AND TOBAGO

REF: CB-OIFI-577/2018

NOTIFICATION OF PRESCRIBED FORM FOR TRANSMISSION OF SENSITIVE PERSONAL INFORMATION UNDER THE TAX INFORMATION EXCHANGE AGREEMENTS (UNITED STATES OF AMERICA) ACT, 2017 (‘TIEAA’)

The Central Bank of Trinidad and Tobago (“the Central Bank”) refers to Section 17(3) of the TIEAA which mandates a reporting financial institution to notify an account holder in respect of a reportable account that their sensitive personal information which is required to be reported has been reported to the Board of Inland Revenue for onward submission to the Secretary to the United States Treasury. Section 9.3 of the Bank’s Guideline on the Implementation of the Tax Information Exchange Agreements (United States of America) Act, 2017 reiterates this legal requirement. Section 17(5) of the TIEAA requires this notification to be in the form prescribed by the Minister (of Finance) by Order (“Prescribed Form”).

We advise that the Prescribed Form for the Notification of Transmission of Sensitive Personal Information, in accordance with section 17(5) of the TIEAA is available on the Ministry of Finance’s website at: https://www.finance.gov.tt/wp-content/uploads/2018/02/Legal-Notice-No.-11-of-2018-The-TIEA-USAPrescribed-Form-Order-2018.pdf .

Please be guided accordingly.

Yours sincerely

[SIGNATURE]

Michelle Francis-Pantor Deputy Inspector – Banks, Non-Banks & Payment Systems Oversight FINANCIAL INSTITUTIONS SUPERVISION DEPARTMENT