FATCA and Common Reporting Standard
We would like to inform you that in compliance with the requirements of the Law on Credit Institutions and the Tax and Social-Insurance Procedure Code (TSIPC) from 01.01.2016., the Bulgarian Development Bank AD (the Bank), as a financial institution providing information, shall start to apply due diligence procedures for control of the financial accounts and shall collect information from its customers, when opening new accounts, for tax purposes. Additional information will be also requested from the customers in respect to the existing accounts.
For this purpose, we provide to our clients to fill out a Declaration for the purposes of the automatic exchange of financial information under Art. 142 t, para. 1 from TSIPC. You can fill out the Declaration by visiting the banking teller’s desk at the headquarter of the Bank or download it through the "Internet Banking" of the Bank / menu Download, Accessible files ... / and provide to us the original at: Sofia 1000, Sofia municipality, Sredetz district, 10, Stefan Karadzha Str. , Bulgarian Development Bank.
Depending on your declared status, it might be necessary for you to complete additional forms that can be downloaded from the same menu system.
The request for additional information is due to the interstate Multilateral agreement for an automatic exchange of financial information in the field of taxation (Common Reporting Standard), which Bulgaria has joined. With the adopted Law for amendment and supplement of the TSIPC on 04.12.2015, mandatory requirements for the automatic exchange of information between the national administrations have been introduced.
According to the requirements of the Agreement between the Government of the Republic of Bulgaria and the Government of the United States to improve the International Tax Compliance and to implement FATCA (Foreign Account Tax Compliance Act), a global identification number (GIN): E2NY46.99999.SL.100 has been provided to Bulgarian Development Bank AD (BDB, the Bank).
If you have questions or need further clarifications on filling the Declaration, please contact Mr. Peter Peshev at: 02/9306 244 or Mr. Dimitar Mitev at: 02/9306 203 or seek assistance by e-mail: firstname.lastname@example.org.
Thank you in advance for your understanding!