Terms | Conditions | Formal Documents | FATCA | CRS

List of authorized Signature

You need a user name and a password to access the list of authorized signatures of the Raiffeisen Bank International AG.

List of authorized signatures

If you have any question regarding the list of authorized signatures or how to get a password, please contact:

Richard Vettori
Group Services
Tel.: +43-1-71707-2574
E-Mail: richard.vettori@rzb.at

FATCA

FATCA at Raiffeisen Bank International

The Foreign Account Tax Compliance Act (FATCA) is a US legislation that was enacted in March 18, 2010 and became effective on July 1, 2014. FATCA is essentially a regulatory reporting requirement for foreign financial institutions on their US account holder base. All units of Raiffeisen Bank International and RZB Group have recognized the importance of FATCA and comply with the FATCA requirements.

Raiffeisen Bank International AG, Austria has already registered itself on the U.S. IRS website with the FATCA Status “Participating Financial Institution not covered by an IGA; or a Reporting Financial Institution under a Model 2 IGA” and has received “28CWN4.00000.LE.040” as Global Intermediary Identification Number (GIIN).

In addition Austria is one of the jurisdictions that have signed an intergovernmental agreement and are treated by U.S. as having an intergovernmental agreement Model 2 in effect.
 

Withholding certificates (W8 forms) can be downloaded by following the links below.

W8-BEN-E
W8-IMY

FATCA Consent to Report (to be provided by FATCA relevant customers holding FATCA reportable accounts!):

Consent to Report 

 

We would like to emphasize that, in accordance with the requirements set forth in § 1.1441-1(e)(4)(iv)B) of the U.S. treasury regulations, the filing and the transmission of withholding certificates may be conducted electronically  as PDF document since February 2014.
 

If you have any further questions, please contact the FATCA Responsible Officer.
fatca@rbinternational.com

CRS/GMSG

What is the Common Reporting Standard (CRS)?
In 2014 the Organisation for Economic Cooperation and Development (OECD) has published a global Standard for the Automatic Exchange of Financial Account Information. The so called Common Reporting Standard (CRS) essentially constitutes a regulatory reporting requirement for Financial Institutions seated in participating jurisdictions (currently more than 100 jurisdictions) and pursues the aim to avoid tax evasion.

In December 2014 the CRS was implemented in the EU-Directive on Administrative Assistance in Tax Matters. Due to that European Member States were obligated to implement the provisions into national law. In Austria this Standard was implemented into national law with the “Gemeinsamer Meldestandard-Gesetz” (GMSG) on 14 August 2015.

Customer Identification, Documentation and Reporting Obligation of Austrian FIs
According to the provisions set forth in the GMSG Financial Institutions seated in Austria are obligated to implement appropriate measures to identify their customer’s tax residence (relevant customers are private individuals, entities and under certain circumstances controlling persons) and the Tax Identification Number of the respective jurisdiction of tax residence. Financial Institutions are further required to report financial accounts maintained by customers who are resident for tax purposes in a participating jurisdiction to the national tax authority which again may exchange the information with the tax authorities of another country or countries in which the customer (or in certain cases the controlling persons) may be tax resident.

Reportable Data according to CRS/GMSG
The report of financial accounts includes certain data about the account holder (in certain cases also about the controlling person) as well as data about the account.

According to the provisions of the GMSG the following information has to be reported to the tax authority:

  • Name
  • Address
  • Jurisdiction(s) of Residence
  • Tax identification number(s)
  • Date and place of birth (for natural persons)
    • account number(s) for savings, depository, giro and custodial accounts
    • account balances or values as of the end of the calendar year or the closure of the account
    • the total gross amount of income, dividends or other income generated with respect to the assets held in the account, as well as total gross proceeds from the sale or redemption of financial assets, in each case paid or credited to the account during the calendar year or other reporting period
  • In the case of entities additionally the controlling person(s) of the entity, identified in accordance with the provisions of the GMSG:
    • Name
    • Address
    • Jurisdiction(s) of Residence
    • Tax Identification Number(s)
    • Date and place of birth


Non reportable “excluded” accounts
In this regard the legislator has also defined certain exemptions in § 87 GMSG as well as in § 2 of the “Verordnung zur Durchführung des Gemeinsamer Meldestandard-Gesetzes” for accounts which are no reportable financial accounts.

Non reportable persons
Furthermore an exemption exists for specific customers who are not defined as “reportable persons” according to § 89 GMSG. These are Financial Institutions, Governmental Entity, International Organizations, Central Banks, Corporations the stock of which is regularly traded on one or more established securities markets (or a related entity thereof).

Austria committed to participate in the OECD Automated Exchange Of Information (AEOI) and to implemented CRS in local jurisdiction
Starting on 1 October 2016 Financial Institutions seated in Austria are obligated to implement procedures and measures in order to meet the due diligence obligations according to GMSG. Hence all customers who want to open a new account are required to provide a reasonable Self-Certification to determine their tax residence(s) and their respective Tax Identification Number(s).

Under certain circumstances also for Pre-existing Accounts/Pre-existing Customers that do not open a new account are also required to provide a reasonable Self-Certification in order to clearly determine their tax residence(s) and their Tax Identification Number(s). In general the necessary TIN information to be provided by the customer correlates with the unlimited income tax liability of the tax resident in the country of tax residence.

Mandatory Self-Certifications for all (new) Accounts/Customers
It should be pointed out that the obligation to provide a reasonable Self-Certification applies for all customers, irrespective of their tax residence, thus, also for customers who are exclusively tax resident in Austria.

If customers are unsure about their tax residence(s), they should consult their tax adviser in order to clarify their residence(s) for tax purposes.  Moreover, customers may also consult certain information centers of the Austrian tax authority. It is important to emphasize that Financial Institutions are prohibited from providing any tax or legal advice.

Further information about the OECD Common Reporting Standard can be found on the Automatic Exchange Portal of the OECD.

CRS-Forms:

Self-Certification for Entities for CRS and FATCA

Self-Certification for private individuals and sole traders for CRS and FATCA

FATCA-Forms:

W-9

W-8BEN

W-8BEN-E

W-8IMY

Consent to Report

Further documents and links:

Information Financial Markets Money Laundering Act

Gemeinsamer Meldestandard-Gesetz (GMSG – refer to Article 4)

Durchführungsverordnung zum Gemeinsamen Meldestandard-Gesetz

OECD Standard for the Automatic Exchange of Financial Account Information

TIN (Tax Identification Number)

Online-Module to verify Tax Identification Numbers für Steueridentifikationsnummern (TIN)

Jurisdictions intended to implement the CRS

FAQs regarding the Common Reporting Standard/Gemeinsamer Meldestandard-Gesetz

Thomas Sternbach

Legal and Compliance
Raiffeisen Bank International AG
Am Stadtpark 9, 1030 Wien
Tel: +43-1-71707-1541
Fax: +43-1-71707-761541
thomas.sternbach@rbinternational.com
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