Tax Compliance Notification

According to Law 4378/2016, which incorporated European Directive 2014/107/EU into Greek law, as well as Law 4428/2016, which incorporates the regulation based on the OECD's Common Reporting Standard (CRS), CRÉDIT AGRICOLE LIFE INSURANCE SINGLE MEMBER S.A. is required to collect and report to the competent authority of the Ministry of Finance certain information regarding the tax residence of the beneficiaries of the accounts (policyholders) of its insurance contracts.

A corresponding obligation to provide information to the competent authority of the Ministry of Finance is imposed on "CRÉDIT AGRICOLE LIFE INSURANCE SINGLE MEMBER S.A." due to the application in Greece of US legislation on "Foreign Account Tax Compliance" (FATCA), which, following the signing of an intergovernmental agreement between Greece and the US on 19 January 2017, was incorporated into Greek law by Law 4493/2017. This agreement refers to the corresponding application of an automatic information exchange procedure for US citizens who hold insurance policies with any financial institution in Greece.

Each jurisdiction has its own rules for determining tax residence. Usually, tax residence is in the country/jurisdiction where a client has her/his permanent residence. Special circumstances may lead to tax residency in more than one country at the same time. If you have tax residence outside Greece, we are required, under the terms of the applicable legislative and regulatory framework, to provide the competent authority of the Ministry of Finance with information regarding your name and address, your date of birth, your tax identification number, and your tax residence, as well as other financial information relating to your insurance policy account (e.g., surrender value).

The "CRÉDIT AGRICOLE LIFE INSURANCE SINGLE MEMBER S.A." is not permitted to provide tax advice. For more information on your tax residence status, please consult your tax advisor and the Greek tax authorities.

For more information on the obligation to automatically exchange information in the tax field, you can also visit, where appropriate, the OECD Portal on Automatic Exchange of Information at: https://www.oecd.org/tax/automatic-exchange or the IRS website on FATCA at: https://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA