Citi Private Bank

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Global Information

Common Reporting Standards (CRS)

CRS requires natural persons that control the accounts be identified, irrespective of whether they are direct account holders (individual accounts) or controlling persons behind structures or companies that are not transparent for tax purposes (entity accounts). Entity clients are also required to complete CRS Self-Certification Forms. Please review Citi Private Bank's CRS At a Glance to help answer some frequently asked questions related to CRS. Below are Citi's CRS Forms which clients may be required to complete in compliance with these rules:

Translated versions of select forms may be available in Portuguese and Spanish. Please contact your Private Banker or Banker Team to assess if a specific form is available in a language you may prefer.

Foreign Account Tax Compliance Act (FATCA)

FATCA is a US tax law aimed to reduce or eliminate US tax evasion by US taxpayers who maintain financial accounts outside the United States or invest offshore through non-US entities. Please review Citi Private Bank's What is FATCA? At a Glance to help answer some frequently asked questions related to FATCA. For additional information on UK CDOT (Crown Dependencies and Overseas Territories) regime, the "UK version of FATCA," please review UK CDOT At a Glance.

FATCA related resource available for Citi Private Bank clients:

IRS approved Tax forms: These forms are accessible from the IRS website,www.irs.gov by clicking the direct links below for the respective form:

Translated versions of select forms may be available in Simplified Chinese, Traditional Chinese, Portuguese and Spanish. Please contact your Private Banker or Banker Team to assess if a specific form is available in a language you may prefer.

Tax Transparency 

Citi prides itself on keeping clients aware of changes that impact their financial situation while complying with applicable laws and regulations. The global tax and regulatory environment is rapidly evolving as numerous countries worldwide have focused on tax transparency as a means of ensuring tax compliance by their residents.

We recommend that Citi Private Bank clients use the following information to evaluate the specific tax laws which may be applicable to them. Citigroup Inc. and its affiliates (Citi) do not provide tax or legal advice, and we therefore urge all clients to consult with their own tax advisor about their individual situation.

This information is made available for general reference only. It does not constitute legal or tax advice. Citigroup Inc. (Citi), its affiliates, and its employees are not in the business of providing tax or legal advice to any taxpayer outside of Citi and its affiliates. These materials are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties. Citi and its affiliates comply with applicable laws and regulations. We encourage you to seek third-party professional advice regarding your personal tax situation.

Citi and its affiliates make no representation, recommendation or warranty, express or implied, regarding the accuracy, adequacy, reasonableness or completeness of the information contained herein.

Whenever you see this, please note that the associated link will direct you to a web site not maintained by Citigroup Inc. or its affiliates and subject to different use and privacy terms. Citigroup Inc. and its affiliates are not responsible for nor do they guarantee the content of such web site.

Regional Information

EMEA Disclosures

 

Payment Services Directive (PSD2)

The original Payment Service Directive ("PSD") was adopted in 2007. This legislation provided a legal framework for the EU's Single Euro Payments Area ("SEPA"). The main objective of PSD was to unify the EU e-payment market by creating rules and guidelines for payment institutions within the EU and to make cross-border payments as easy and efficient as local payments.

PSD2 aims to widen the scope of the regulatory framework of PSD to cover new services and players (including payment initiation service providers and account information service providers) and additional geographies and currencies. It attempts to fix legal uncertainties and to enhance customer protection and payment services and to provide customers and retailers with effective, convenient and secure payment methods within the European Union.

PSD2 comes into force on 13 January 2018.

Citi

 

With more than two centuries of heritage, Citi is one of the world’s best-capitalized financial institutions.

Your dedicated relationship team can give you access to Citi’s global network, resources and expertise, wherever you may be in the world.

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