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Language Notification

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Have-you-completed-CRS-Tax-Certification

Have you completed CRS Tax Certification?

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By Citi Private Bank,

June 20, 2018Posted InCiti

Clients that have accounts outside of their home country with any bank need to be aware of – and comply with – new international tax reporting rules that are now in effect.  This includes completing a Common Reporting Standard (CRS) Tax Certification form – “CRS Self-Cert form”.  Banks then have an obligation to validate the information provided.

In cases where forms are determined to be invalid, incomplete, or missing entirely, banks have an obligation to report clients’ financial information to the local tax authorities in the country where the account is held. The reportable financial information for clients with missing or invalid forms includes all indications of a clients’ potential tax residencies based on the bank’s records.

To see what this might mean in practice, suppose there is a client who is a resident in Singapore and who has an account with a bank in Hong Kong. The same client also has a UK mobile phone number registered with the bank as the same client lived in the UK several years ago.  The client has no ongoing interests in or exposure to the UK. As the client has also not completed the CRS Self-Cert form, the bank is obliged to report to the Hong Kong authorities that the client has Singapore and UK tax residencies.

As a reminder, this new reporting requirement is part of the global industry implementation of the Common Reporting Standard (CRS), which we reported on last year. Citi's CRS Self-Cert forms can be downloaded here.