Tax Entity Classification Information
The global Common Reporting Standard (CRS) provisions require Westpac to provide foreign tax residency information to the Australian Taxation Office (ATO). This information may be shared by the ATO with tax authorities in other countries.
To ensure information we may need to report to the ATO is accurate we need a few details from you.
By collecting your Tax Entity Classification information, we can add it to your entity’s profile and ensure that if we need to report information to the ATO, it is correct.
Once you have supplied this information to Westpac you will not need to supply this information again unless your entity’s circumstances change.
What you need to do
Starting December 2024, Group Administrators with Digital access will be able to conveniently update their organisation's Tax Entity Classification (TEC) information directly through Westpac Online Banking or the Mobile Banking app.
Updating your details is quick and easy, taking only a few minutes to complete.
How to update your details:
The Westpac App
- Sign into the Westpac App and select company profile
- Select Verify your organisation
- Select Declare tax entity classification
- Review and answer the TEC questionnaire
Westpac Online Banking via desktop
- Sign into Westpac Online Banking and select the company profile
- Select Administration > Business settings
- Select Verify your organisation
- Select Declare tax entity classification
- Review and answer the TEC questionnaire
You can also use Smart Search once you are signed into the Westpac App and type phrases to update tax entity classification details.
Here are some phrases to get you started:
- Tax Entity Classification
- Self certification
- Tax residency
Please visit your nearest Branch to speak to one of our friendly banking team.
You may be required to complete a Tax Entity Classification Self-Declaration Form (TEC SDF) as part of your banking with Westpac.
If requested, please complete one of the forms below and return to your relationship manager.
Important Note: The dynamic form can’t be viewed via an internet browser or mobile device. To view the form, Adobe Acrobat Reader must be installed on your computer. If you don’t have Adobe Acrobat Reader head to https://get.adobe.com/reader/ or complete the accessible version of the TEC SDF below.
Instructions to complete the Dynamic TEC SDF
- Save a copy of the form to your desktop and open using Adobe Acrobat Reader
- Ensure Javascript is enabled in Adobe Acrobat Reader
- You must complete all sections that appear and provide your signature
- Return a completed copy of the form to your relationship manager
Accessible TEC SDF (PDF 235KB)
Instructions to complete the Accessible TEC SDF
- You must complete all relevant sections of the form and provide a signature
- Return a completed copy of the form to your relationship manager
If you have any questions relating to Tax Entity Classification (TEC), please contact your relationship manager.
Further information
Have you been contacted directly by the Westpac Business Identification Team to provide information for your ATO Reporting?
If you have been contacted directly by the Westpac Business Identification Team to provide information for your ATO Reporting, please visit our Tax reporting for the ATO page for next steps.
Tax reporting for the ATO
Where can I go for more information?
If you have any questions about CRS or FATCA, please visit our Automatic Exchange of Foreign Tax Residency Information (CRS & FATCA) page.
Automatic Exchange of Foreign Tax Residency Information (CRS and FATCA)
If you want to know more about FATCA, see the Internal Revenue Service
If you want to know more about CRS, see:
Frequently asked questions
We will only disclose your personal information to the local tax authority in accordance with the legislation and as per the Westpac Group’s Privacy Statement | Westpac
Foreign tax residency refers to the country(ies) in which you are liable to pay tax, irrespective of whether a tax return must be filed or any tax is actually payable. This applies to individuals, entities, and any of their associated parties, for example, beneficial owners and/or controlling persons of organisations.
If you need help to determine your tax residency status, please contact your independent taxation advisor, as we are unable to provide taxation advice.
The OECD website provides information about tax residency in relation to CRS.
A TIN is an identifying number or equivalent (e.g. social security number, personal identification number, national identification number) issued by a country of tax residency that is used for tax purposes. If you are unsure about your TIN, contact the relevant tax authority or your independent taxation advisor.
If you're a tax resident in a jurisdiction that doesn't issue a TIN or equivalent, you'll need to give evidence of this, written in English from an appropriate authority.
Beneficial Owner/Controlling Person refers to the individual(s) that directly or indirectly owns a legal interest in the entity of 25% or more and/or exercises actual effective control over the entity, whether from an economic or other perspective, such as through voting rights. In addition, in the case of a trust, a Beneficial Owner/Controlling Person includes the settlor(s), trustee(s), appointer(s), protector(s), beneficiary(ies) or classes of beneficiaries and in the case of an entity other than a trust, the term includes persons in equivalent or similar positions.