The Regulation in UniCredit Bank a.d. Banja Luka
The Foreign Account Tax Compliance Act (FATCA) regulation presents the U.S. legislation passed and adopted as at 18.03.2010, and whose implementation came into force as at 01.07.2014. According to the FATCA regulation, the foreign financial institutions are obliged to submit the data about U.S. taxpayers to the U.S. (U.S. IRS) tax authorities.
Classification of the clients is determined on the basis of the U.S. status indicia. UniCredit Bank a.d. Banja Luka, as a Legal Entity of UniCredit Group, has recognized the importance of FATCA regulation and aligned its operations according to the FATCA requirements.
UniCredit Bank a.d. Banja Luka has already registered at the U.S. IRS website with the FATCA status of the “Participating Financial Institution not covered by an IGA“ and received the number 938A8A.00075.ME.070 as the “Global Intermediary Identification Number (GIIN)”.