The term “U.S. Person” means a U.S. citizen or resident individual, a partnership or corporation organized in the United States or under the laws of the United States or any State thereof, a trust if (i) a court within the United States would have authority under applicable law to render orders or judgments concerning substantially all issues regarding administration of the trust, and (ii) one or more U.S. persons have the authority to control all substantial decisions of the trust, or an estate of a decedent that is a citizen or resident of the United States. This subparagraph 1(ee) shall be interpreted in accordance with the U.S. Internal Revenue Code;

The term “Specified U.S. Person” means a U.S. Person, other than:

1. a corporation the stock of which is regularly traded on one or more established securities markets;
2. any corporation that is a member of the same expanded affiliated group, as defined in section 1471(e)(2) of the U.S. Internal Revenue Code, as a corporation described in clause (1);
3. the United States or any wholly owned agency or instrumentality thereof;
4. any State of the United States, any U.S. Territory, any political subdivision of any of the foregoing, or any wholly owned agency or instrumentality of any one or more of the foregoing;
5. any organization exempt from taxation under section 501(a) of the U.S. Internal Revenue Code or an individual retirement plan as defined in section 7701(a)(37) of the U.S. Internal Revenue Code;
6. any bank as defined in section 581 of the U.S. Internal Revenue Code;
7. any real estate investment trust as defined in section 856 of the U.S. Internal Revenue Code;
8. any regulated investment company as defined in section 851 of the U.S. Internal Revenue Code or any entity registered with the U.S. Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. 80a-64);
9. any common trust fund as defined in section 584(a) of the U.S. Internal Revenue Code;
10. any trust that is exempt from tax under section 664(c) of the U.S. Internal Revenue Code or that is described in section 4947(a)(1) of the U.S. Internal Revenue Code;
11. a dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any State;
12. a broker as defined in section 6045(c) of the U.S. Internal Revenue Code; or
13. any tax-exempt trust under a plan that is described in section 403(b) or section 457(g) of the U.S. Internal Revenue Code.

Dealer – a dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any State.

Broker – a broker as defined in section 6045(c) of the U.S. Internal Revenue Code.

The term "Non-Financial Foreign Entity" (NFFE) – means an entity, which is not a US person and the business of which is other, than the businesses typical of Financial Institutions according to FATCA.

The term "Active Non-Financial Foreign Entity" – means a Non-Financial Foreign Entity (NFFE), which is not a US person and the business of which is other, than the businesses typical of Financial Institutions according to FATCA, which satisfies at least one of the criteria below:

1. Less than 50% of gross profit for previous calendar year or other relevant reported period is passive income and when less than 50% of assets held by NFFE in the previous calendar year or other relevant reported period are assets, which generate or are held to generate passive income;
2. NFFE shares are regularly traded on stock exchanges or the NFFE is an entity affiliated with an entity whose shares are regularly traded on stock exchanges;
3. NFFE was established on US territory and all payment owners are bona fide residents on US territory;
4. NFFE is a government other than the US Government, a field representation of the government (which, for the avoidance of doubt, comprises the country, voivodeships, counties and municipalities), or a public entity performing the functions of such government or field representation; a government of US Territories; an international organisation; an entity other than the US Central Bank or an entity, the sole owner of which is one of the foregoing in this item;
5. As a rule all activities of NFFE consist in holding (in whole or in part) of a major part of shares or financing and providing services to one or more subsidiaries, which conduct trade or business activity other than activity of a Financial Institution, with the exception of a situation, in which the entity does not quality for NFFE status, if it operates itself as (or it considers itself to be) an investment fund, such as a private equity fund, a venture capital fund, a leveraged buyout fund or any other investment entity, the aim of which is to acquire or create companies and then to hold shares in said companies as assets or investments;
6. NFFE is not conducting business activity and was not conducting such activity previously, however it is investing capital in assets for the purpose of conducting business activity other than the activity of a Financial Institution. NFFE does not quality for this exception after 24 months from the date of establishment (initial organisation) of the NFFE;
7. NFFE was not a Financial Institution in the past 5 years and is in the process of liquidation of assets or reorganisation for the purpose of continuation or renewing of activities in an area other than the activity of a financial institution;
8. NFFE deals primarily with carrying out financial transactions or risk hedging transactions in favour of or with affiliated entities, which are not Financial Institutions and is not financing or providing risk hedging transaction services to any entity, which is not an affiliated entity, provided that the group of such affiliates is first of all engaged in activity other than the activity of a Financial Institution, or
9. NFFE is an Excepted Non-Financial Foreign Entity, as defined in relevant regulations of the US Treasury Department, or
10. 10. NFFE satisfies all of the criteria below:
    1. Was established and is kept in the country of its residence solely for religious, charity, scientific, artistic, cultural and educational purposes or was established and is kept in the country of its residence and is a professional organisation, organisation of entrepreneurs, chamber of commerce, labour organisation, union of farmers or allotment gardeners, community organisation or an organisation existing solely to support social development;
    2. Is relieved from income tax in its country of residence;
    3. Does not have shareholders or members who are owners or beneficiaries of its income or assets;
    4. Relevant legal provisions of the country of residence of NFFE or its articles of association do not permit distribution of its income or assets to a private individual or an entity, which is not a charity entity, with the exception of activity consistent with the charity aim of the entity or for distribution as payment or reasonable compensation for provided services or payment reflecting the market price of the assets acquired by this entity, and
    Relevant provisions of the country of registered office of the NFFE or of its articles of association require that in case of liquidation or dissolution of NFFE any and all assets are transferred to a government entity or non-profit organisation, or are beneficially allocated to the government of the entity’s country of residence or the government’s field representation.

Passive Non-Financial Foreign Entity (Passive NFFE) – this is understood to mean a NFFE, which is not an Active Non-Financial Foreign Entity.

Pursuant to the FATCA Act, the Bank submits FAT-1 information to the Head of the National Revenue Administration on an annual basis. The information is provided electronically by the end of June for the previous year, e.g. FAT-1 information for 2024 is provided by June 30, 2025.

In the FAT-1 information, we provide identification data (name, surname, and in the case of a legal entity, the name of the entity, address of residence/registered office, American tax identification number, country of tax residence, in the case of natural persons, additionally date of birth and place and country of birth) and financial data (account numbers, balances on accounts at the end of a given year, interest earned in a given year/deposits, and in the case of securities accounts, income from interest/discount on bonds, dividends received from shares and capital gains from the sale or redemption of securities).

If the primary or additional country of tax residence is the USA, your data is transferred to the Head of the National Revenue Administration in the FAT-1 information. You can check these countries in Millenet (General settings / FATCA / CRS) or in the bank account agreement you have concluded. You can also ask for a check by our hotline consultant or request such a statement.

If you were born in the US, have US citizenship, additional citizenship or residential address, you will also be reported under FATCA. If you opened an account with the Bank before 1 July 2014 and you have not updated your FATCA data (in Millenet: General settings / FATCA/CRS), the Bank will report your data if it finds that you have connections with the USA (e.g. correspondence address in the USA or a proxy for an account from the USA).

FAT-1 information is submitted to the tax authorities in the form of an xml file electronically to the e-Declarations system of the Head of the National Revenue Administration. This file contains aggregated data of all reported accounts of US taxpayer clients and cannot be provided to the client. You can request during your visit to the facility or on the hotline to prepare a dedicated statement. Account balances at the end of the year are available in the history of operations and statements, as well as in the IFT-1R information provided by the Bank, which we send by the end of February to all clients whose tax residence was in a country other than Poland.

No, the Bank provides FAT-1 information pursuant to Article 4(1)(2) of the FATCA Act in conjunction with Article 2(2)(a) of the FATCA Agreement and its statutory obligation cannot be excluded by the client's objection.

The FAT-1 information provided by the Bank to the Head of the National Revenue Administration is then transferred to the US Internal Revenue Authorities (IRS). On the basis of the collected data, the IRS analyzes whether the reported person had tax obligations in the USA (filing the appropriate returns, paying taxes) and may, depending on the case, take specific verification actions or inspections with respect to the reported persons. This is the purpose of FATCA, which is why we recommend that you check your tax obligations towards the IRS in relation to your assets and income earned in Poland.