FATCA, which stands for Foreign Account Tax Compliance Act, is intended to make United States tax subjects who hold assets outside the United States correctly file tax returns to the United States tax authorities the IRS.
Τhe Common Reporting Standard (CRS) is aiming at improving international tax compliance and preventing tax evasion, through the automatic exchange of information between the countries that implement CRS.
The Cyprus government has reached an agreement in substance with The United States and is treated as having an intergovernmental agreement in effect. This agreement requires Cypriot Financial Institutions to identify financial accounts held by U.S. citizens or by entities that are organized in the U.S. or controlled by certain U.S persons and report those accounts annually to Cyprus Income Tax Authorities.
Hellenic Bank Public Company Ltd, is registered under Model 1 IGA and the Global Intermediary Identification Number (GIIN) is 7THJLM.00000.LE.196
Therefore, customers might be contacted by the Bank, to state information regarding their country of residence and Tax identification number. It is important to respond to this request.
Customers that believe that they as individuals or their companies could be a US person, should visit The United States IRS website www.IRS.gov for further/additional information.
CRS requires the financial institutions to submit information on financial accounts that are held, directly or indirectly, by account holders who are tax residents of countries which implement CRS.
For more details you can read the announcement below of the Association of Cyprus Banks.