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01.07.2014

Sberbank of Russia announces registration for the purposes of FATCA

July 1, 2014, Kyiv – Due to the U.S. Foreign Account Tax Compliance Act (FATCA) coming into force on July 1, 2014, Sberbank of Russia has registered at the U.S. Internal Revenue Service (IRS) under the status of the financial institution which complies with the FATCA requirements (Registered deemed-compliant financial institution). Individual identification number: JPCJ0H.00001.ME.804.

FATCA focuses on the collection of data on the U.S. taxpayers[1].

This is to inform individual clients and self-employed persons interested in obtaining banking services of Sberbank of Russia (hereinafter - the Bank) of the possibility of disclosure of their status of the U.S. taxpayer for the purposes of FATCA.

If you contact the Bank after July 1, 2014 for banking services, you will be asked to fill out an individual client form (hereinafter - a Questionnaire) that contains an enclosure with additional information required according to FATCA.

As part of filling out the questionnaire you will be required to provide the following additional information/documents depending on your answers to the questions contained in the Questionnaire:

  • If you are a U.S. citizen, or if you assigned a U.S. taxpayer number, you will be required to specify it in the appropriate column of the Questionnaire.
  • If you were born in the U.S. but you are not a U.S. citizen, you must provide (1) a certificate of loss of citizenship of the United States under the form DS 4083[2] of Bureau of Consular Affairs of the U.S. Department of State, or (2) a written explanation regarding the absence of U.S. citizenship (for example, an indication of the reason for which the U.S. citizenship was not obtained by birth).

The information on U.S. taxpayers, including the data on number/numbers of account/accounts with the Bank, the balance/balances on account/accounts, and account/accounts transactions may be subsequently transferred by the Bank to the State Tax Service of Ukraine for further transmission to the U.S. Internal Revenue Service (IRS) in the scope and in conformity with the procedure established by the legislation of Ukraine.

 


[1] The term "U.S. Individual Taxpayer" means a citizen or a tax resident of the United States. If the presence of the U.S. tax resident status causes doubt to you, we recommend that you consult a professional tax advisor.

As a general rule, you may be considered a tax resident of the United States if:

1) You were born in the United States; OR

2) You are a U.S. citizen or have a "green card" of the USA; OR

3) You meet the criteria for a significant presence. In order to meet this criteria, you must be physically present in the U.S. at least:

i. 31 days during the current year, and

ii. 183 days during the three-years’ period that includes the current year and the two immediately preceding years, taking into account:

1. All days, during which you were in the U.S. during the current year; AND

2. 1/3rd of days, during which you were in the U.S. during the first year preceding the current year; AND

3. 1/6th of days, during which you were in the U.S. during the second year preceding the current year.

[2] Form DS 4083. Certificate of loss of citizenship of the United States (CLN) - form the Bureau of Consular Affairs of the U.S. Department of State, made by the consular officer of the United States, confirming the rejection of the U.S. citizenship. This form is approved by the U.S. Secretary of State on the basis of the U.S. Immigration and Nationality Act 1952.

For more detailed information please address «SBERBANK» JSC branches or contact the Call-center: 5595 (call back) or + 38 044 354 15 15.

 

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pr@SBRF.com.ua«SBERBANK» JSC is a universal commercial Bank which provides full service banking to all client categories. According to the National Bank of Ukraine, Sberbank is ranked among the top 10 largest financial institutions of the country as per its assets. «SBERBANK» JSC is a 100% subsidiary bank of Sberbank.

«SBERBANK» JSC. License of the National Bank of Ukraine No 198 of 18.12.2015. Full service banking.

Official site – www.sberbank.ua.