FATCA-CRS RC519 Form Collection Frequently-Asked Questions (FAQ)

• What is the FATCA-CRS 519 form?
• Why have I received a notice from PandaDoc?
• How can someone else at my company sign the document instead of me? 
• Can I download the form and submit it another way?
• What if the pre-filled information is incorrect? 
• How can I edit incorrect information on the document after I've completed it?
• Do I need to complete out the "Annex - Controlling Persons" section?
• Why can't I fill the "Policy/account number assigned by the financial institution" field? 
• What if my business is no longer using Float? 

What is the FATCA-CRS RC519 form? 

As a financial services business, Float must collect this Declaration of Tax Residence form from each of our customers to comply with a CRA reporting requirement. You can find more information here: FATCA-CRS RC519 Form Collection

Why have I received a notice from PandaDoc? 

Float is using PandaDoc to securely distribute the FATCA-CRS RC519 forms and collect eSignatures. Links to digital signing sessions were sent via PandaDoc to the Primary Administrators of active Float customers. Here are your next steps: What should I do if I receive a request to complete the RC519 form?

How can someone else at my company sign the document instead of me? 

If the Primary Administrator is not an appropriate signing officer for this document, they can forward the PandaDoc notice via email and the digital signing ability will be automatically extended to the recipient. You can also contact us by replying to the PandaDoc notice or emailing support@floatfinancial.com and we can re-send to the appropriate individual. 

Can I download the form and submit it another way? 

We prefer that the FATCA-CRS RC519 form be completed and signed digitally via PandaDoc to assist our reporting and log an audit trail of all changes. If you are unable to sign digitally or prefer not to use PandaDoc, you can send PDF of the completed form to support@floatfinancial.com - please include "FATCA RC519 Form" in the subject line

What if the pre-filled information is incorrect? 

The forms were pre-filled programmatically with information that was gathered during your company's onboarding to Float. While we hoped this would make completion of the form more convenient for you, it's possible that the information was mis-classified at the time it was collected or has become out-of-date.

All pre-filled information on the RC519 form is editable so you can review it for accuracy and make any necessary changes during the digital signing session.

My organization is a non-profit - do I still need to fill this out? 

Yes. Float must collect this form from all of our customers. As you complete the form, you'll see selections that allow you to indicate the type of organization yours is and how/where your organization is taxed.

How can I edit incorrect information on the document after I've submitted it? 

Reply to a PandaDoc notification or email us at support@floatfinancial.com. We can re-open the document for editing and re-signing. 

Do I need to complete the "Annex - Controlling Persons" section? 

Most Float customers will not need to complete this section.

The Annex section of the FATCA RC519 form is only required for businesses that are financial institutions meeting certain criteria or businesses that receive most of their income passively. 

If either of the following selections are made in the form, the Annex is required: 

• In Section 3.1, you have responded "Yes" to "Is the entity a financial institution?, AND in Section 3.2, you have responded "Yes" to the entity being a resident of a non-participating jurisdiction, receiving at least 50% of its income from investing or trading in financial assets, and being managed by another financial institution.

OR

• In Section 3.5, you have selected "The entity is a passive non-financial entity", indicating that the majority of the entity's income is received from passive sources. 

If neither of those selections are made, the Annex is section is not required. 

Please let us know if either of those scenarios apply to your business by replying to the PandaDoc notification or emailing support@floatfinancial.com and we can re-send the form with an editable Annex section. 

Why can't I fill the "Policy/account number assigned by the financial institution" field? 

Float will file the document with our banking partner using an internal ID unique to your company. This ID is already associated with your digital signing session and is not required directly on the form. 

What if my business is no longer using Float? 

We're sorry to see you go! Please complete the RC519 form via PandaDoc to reflect your previous usage of Float. You can then start the process to close your business' Float account as outlined here: Withdrawing funds from Float