On 22 of April 2014 OAO AK BARS Bank was granted with the status of a participating financial institution (Participating FFI) in accordance with the U.S. Foreign Account Tax Compliance Act (FATCA)

On 22 of April 2014 OAO AK BARS Bank was granted with the status of a participating financial institution (Participating FFI) in accordance with the U.S. Foreign Account Tax Compliance Act (FATCA) and received an individual identification number ZDFUFB.00000.LE.643 (GIIN — Global Intermediary Identification Number). Before 1 of July 2014, the Bank is planning to complete the introduction of policies and procedures in the Bank to meet the requirements of the above-mentioned Act.

Under the provisions of the U.S. Foreign Account Tax Compliance Act, if a financial institution does not register with FATCA prior to 1 July 2014, the other participating organizations of FATCA will be entitled to withhold a 30% tax on any income and transfers of the U.S. citizens in favour of that institution. From 2014 this tax will be withheld solely from the passive income from the U.S. assets (such as royalties and interest). And starting from 1 of January 2017, the tax will also apply to the proceeds from the sale of securities and transit payments of the U.S. residents.

All news
Read the following
Audited by the Certification Association Russian Register, Ak Bars Bank has become the first Russian bank to have proven its business continuity management system to be compliant with ISO 22301 (GOST R ISO 22301).
The Bank held a tender procedure for the supply of FSC-certified copy paper.