Dear clients and partners!
In order to implement the provisions of the U.S. Law «Foreign Account Tax Compliance Act» (FATCA) the Bank has registered on the Internal Revenue Service of the USA (IRS) with the status of Participating Foreign Financial Institution, the Bank obtained GIIN (Global Intermediary Identification Number) - 8FNL5Y.99999.SL.643
Foreign Account Tax Compliance Act (FATCA) is a U.S. regulation which has the purpose to detect, deter and discourage offshore tax evasion by U.S. citizens, or residents, who either directly or indirectly invest outside the U.S. through foreign financial institutions (FFI). FATCA is in force starting from 1st July 2014.
FATCA requires that FFIs report to the Internal Revenue Service (IRS), the U.S. government agency responsible for tax collection and tax law enforcement, directly or through the local tax authorities information about financial accounts held by U.S. taxpayers, or by certain entities in which U.S. taxpayers hold a substantial ownership interest.
In order to comply with the requirements of the Federal law № 173-FZ enacted on June 28, 2014 «Аbout the aspects of execution of the financial transactions with foreign citizens and entities, about amendments to the Administrative Offences Code of the Russian Federation and declaring certain provisions of legislative acts of the Russian Federation to be no longer in force» and the U.S. Law «Foreign Account Tax Compliance Act» (FATCA), Bank has developed the document: Criteria of designation of the clients to the category of the client- foreign taxpayer and methods of obtaining the necessary information from them.