HSBC 2015 Annual Report Download - page 479

HSBC HOLDINGS PLC
477
Strategic Report Financial Review Corporate Governance Financial Statements Shareholder Information
tax will be payable on a transfer of, or agreement to transfer,
an ADS effected by the transfer of an ADR.
US backup withholding tax and information reporting
Distributions made on shares or ADSs and proceeds from the
sale of shares or ADSs that are paid within the US, or through
certain financial intermediaries to US holders, are subject to
information reporting and may be subject to a US ‘backup’
withholding tax unless, in general, the US holder complies
with certain certification procedures or is a corporation or
other person exempt from such withholding. Holders that
are not US persons generally are not subject to information
reporting or backup withholding tax, but may be required to
comply with applicable certification procedures to establish
that they are not US persons in order to avoid the application
of such information reporting requirements or backup
withholding tax to payments received within the US
or through certain financial intermediaries.