As of July 1, 2014, the U.S. FATCA (Foreign Account Tax Compliance Act) regulations will come into effect. A core element of these regulations is inter alia a 30% U.S. withholding tax to be applied to payments of certain U.S. source income (e.g. insurance and reinsurance premiums, dividends, interest) made to non-U.S. financial institutions (FFIs) unless such FFI establishes by registration with the U.S. Internal Revenue Service (IRS) that it is a participating FFI, including FFIs in Model 2 IGA, an FFI in a jurisdiction with a Model 1 IGA treated as in effect, or a low-risk FFI. Payments to a non-financial foreign entity (NFFE) are also not subject to such withholding.

Hannover Rück SE is classified as a NFFE in accordance with the relevant provisions. As such we are automatically exempt from the withholding tax; a registration with the IRS is not required in this respect. Our status as a NFFE will be evidenced towards our business partners (e.g. cedants, brokers, financial institutions, withholding agents) by the execution of the IRS form W8-BEN-E. Business partners of Hannover Rück SE may therefore request a copy of such executed form W8-BEN-E. A copy of Hannover Rück SE’s certificate (which covers all branches as well) and a copy of the certificates in respect of our major operating subdiaries are available for download here.

The certificates will be updated and the updated versions will be published if any certification on the forms becomes incorrect.