Polish bank customers must declare citizenship

A new regulation that affects new customers of banks in Poland will come into effect on December 1, Tadeusz Białek, Director of the Legal and Legislative Banking Association said in a report in the Polish press on Saturday. All bank clients who signed an agreement with a bank between July 1, 2014 and December 1, 2015 must declare that they are not citizens of the United States in order to continue to have access to money in their account. The obligation is due to the Polish-American agreement, FATCA, and applies not only to private clients of banks, but also to brokerage houses, insurance companies and investment funds.