Financial transactions with foreign citizens and legal entities

CB "NMB" LLC informs you that due to the entry into force on June 30, 2014. Federal Law No. 173-FZ of 28.06.2014 "On the Specifics of Financial Transactions with Foreign Citizens and Legal Entities, on Amendments to the Code of Administrative Offences of the Russian Federation and the Invalidation of Certain Provisions of Legislative Acts of the Russian Federation" (hereinafter – Federal Law No. 173-FZ), the Bank is obliged to identify among its customers foreign taxpayers for the subsequent transfer of information about them to foreign tax authorities.

In accordance with Federal Law No. 173-FZ, the Bank has the right to request clients with respect to whom there are reasonable assumptions that the client is a foreign taxpayer, information identifying him as a foreign taxpayer, as well as the client's consent to provide this information to a foreign tax authority. The client's consent to provide such information is also consent to the transfer of such information to the authorized bodies of the Russian Federation (Bank of Russia, Rosfinmonitoring, FTS).

In case the client does not provide the information requested by the bank within 15 working days from the date of sending the request, as well as in case of refusal to provide consent to the transfer of information to the authorized bodies, the bank has the right to make a decision to refuse to perform transactions carried out in favor of and on behalf of such a client under the financial services agreement, to terminate unilaterally in accordance with the procedure of the financial services agreement, notifying the client not earlier than thirty working days before the date of termination of the relevant agreement.

For reference: the above-mentioned changes in the legislation of the Russian Federation and the bank's obligations are related to the entry into force on July 1, 2014 of the US Law on Taxation of Foreign Accounts (Foreign Account Tax Compliance Act, FATCA)

FATCA is adopted in March 2010. The US Law on Tax Requirements for Foreign Accounts, which establishes a mechanism obliging foreign financial institutions to disclose certain information to the US Internal Revenue Service (IRS) about their clients - American taxpayers.

In accordance with the provisions of the FATCA law, from July 1, 2014, US tax agents are required to withhold 30% of the amounts of passive income received from sources in the United States (interest, dividends) transferred in favor of:

foreign financial organizations, if the latter have not concluded an agreement with the US Internal Revenue Service and do not have a GIIN; individuals who have signs indicating belonging to the USA, such as citizenship, place of birth, postal address, actual residence address, telephone number, long-term payment order for transferring funds to an account in the USA and a power of attorney or the right of signature granted to a person with an American address;

legal entities in which the above-mentioned individuals have a share of 10 percent or more of direct or indirect participation; clients who refused to provide information about their tax resident status in accordance with FATCA requirements.

Additionally, we inform you that CB "NMB" LLC has been registered on the website of the US Internal Revenue Service (IRS) and received the status of a financial organization that complies with the requirements of FATCA (Participating Foreign Financial Institution, PFFI). The Bank was assigned a global identification number (GIIN) NTND4C.0000.LE.643