FATCA

FATCA (Foreign Account Tax Compliance Act) is a law introduced by the United States regarding the fulfillment of tax obligations concerning accounts held abroad. It imposes an obligation on foreign (including Polish) financial institutions to report to the U.S. Internal Revenue Service (IRS) about accounts held on behalf of U.S. taxpayers.

Trigon Dom Maklerski S.A., as an institution obligated to comply with the requirements of FATCA legislation, operates in accordance with:

• The Agreement of October 7, 2014, between the Government of the Republic of Poland and the Government of the United States of America on improving the fulfillment of international tax obligations and implementing FATCA legislation,
• The Act of October 9, 2015, on the implementation of the Agreement between the Government of the Republic of Poland and the Government of the United States of America on improving the fulfillment of international tax obligations and implementing FATCA legislation (Journal of Laws 2015, item 1712), which entered into force on December 1, 2015.

In order to fulfill the obligations arising from FATCA, Trigon Dom Maklerski S.A. will identify Clients who are subject to tax obligations in the United States and will provide the relevant tax authority, as designated by the Minister of Finance, with information about accounts held by Trigon Dom Maklerski S.A. on behalf of a Client who:

• Has been verified as a specified U.S. person,
• Has been verified as a passive non-financial foreign entity, where at least one beneficial owner is a U.S. citizen or a U.S. resident for tax purposes,
• Has refused to provide Trigon Dom Maklerski S.A. with information or a statement allowing for proper verification in accordance with FATCA legislation.

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• A Client who is a natural person (a natural person running a business) and who opened an account at Trigon Dom Maklerski S.A. between July 1, 2014, and November 30, 2015, will receive a form from Trigon Dom Maklerski S.A. requesting it to be completed, on which they should submit a declaration regarding U.S. citizenship or tax residency in the United States.
• A Client who is a natural person (a natural person running a business) opening an account at Trigon Dom Maklerski S.A. on December 1, 2015, or after that date, will receive the appropriate form from Trigon Dom Maklerski S.A. along with the agreement and documentation concerning the opened account, requesting it to be completed, on which they should submit a declaration regarding U.S. citizenship or tax residency in the United States.
• A Client who is an entity (a legal person or an organizational unit without legal personality) and who opened an account at Trigon Dom Maklerski S.A. between July 1, 2014, and November 30, 2015, will receive a form from Trigon Dom Maklerski S.A. requesting it to be completed, on which they should submit a declaration regarding their FATCA status.
• A Client who is an entity (a legal person or an organizational unit without legal personality) opening an account at Trigon Dom Maklerski S.A. on December 1, 2015, or after that date, will receive the appropriate form from Trigon Dom Maklerski S.A. along with the agreement and documentation concerning the opened account, requesting it to be completed, on which they should submit a declaration regarding their FATCA status.

The client submits statements as specified in point IV under the penalty of criminal liability for making false statements. The client is obligated to update the submitted statement if there are changes in circumstances affecting its accuracy and compliance with the actual and legal state.

In relation to a client who opened an account with Trigon Dom Maklerski S.A. between July 1, 2014, and November 30, 2015, and who has not submitted the appropriate statement as specified in point IV by December 1, 2016, Trigon Dom Maklerski S.A. will be required to block the client's account. The account blockage will involve preventing the client from disposing of or using any assets accumulated in that account.