As Fatca comes closer, 5 mn folios risk closure | Business Standard …

One in every 10 mutual fund (MF) folios (accounts) in this country is yet to comply with the Foreign Account Tax Compliance Act (Fatca), an American law but having a bearing on most global investors. Non-compliance occurs when any investor does not declare his tax residency.

Nearly five million MF accounts—mostly of domestic individual investors—face closure if they don’t by

FULL ARTICLE http://www.business-standard.com/article/markets/as-fatca-comes-closer-5-mn-folios-risk-closure-116072001152_1.html

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