The definition of U.S. person (“United States Persons”) as defined by the Internal Revenue Service (IRS)
- A U.S. citizen or resident (including dual citizenship)
- A U.S. alien (resident for tax purposes)
- A domestic partnership
- A domestic corporation
- Owns any estate other than a foreign estate
- Member of a trust whereby:
- A court within the U.S. is able to exercise primary supervision over the administration of the trust
- One or more U.S. citizens have the authority to control all substantial decisions of the trust
- Any other person that is not a foreign person
Furthermore, please note that a substantial U.S. ownership (US person owns more than 10% of the shares of a corporation {vote or value} or of a partnership or of a trust) is also subject to the compliance with FATCA.