II. Specific terms and conditions

  1. The Customer agrees that VPBank can verify the provided information from any source.
  1. The Customer understands that a false statement or concealment of the U.S. individual tax status could lead to sanctions/ penalties under U.S. tax law, including FATCA
  2. The Customer agrees to notify, provide, update tax and financial information within 30 (thirty) days if any tax and financial information provided previously becomes incorrect, outdated, insufficient or under VPBank’s written request.
  3. VPBank does not give any tax advice to Customer. Customer has full responsibility to fulfill Customer’s worldwide tax reporting and filing obligations in relation to the Accounts.
  4. The Customer agrees that VPBank may gather, store, use, process, disclose and report to any such Tax Authority or another authoritiy any Tax Information, Financial Information or Additional Information of Customer that the VPBank holds or that the Customer provides to VPBank pursuant to FATCA regulations and related Legal regulations.


  1. If the  Customer  fails  to  submit/  to  submit  in  time  any required Information in FATCA related-forms, Requests of VPBank, or fails to complete other requirements (if any) under the requests of VPbank  from time to time, Customer agrees that VPBank has the right to report any related information of Customer to Tax Authority or another authority and/or to apply the following punishments according to FATCA regulations and/or relevant legal regulations without any responsibility with Customer:
  • Refuse to open account, provide service for Customer;
  • By notifying Customer in writing, withhold tax on certain payments of US source income which are received or settled by VPBank in the compliance with FATCA and the relevant laws;

Close Customer’s account, suspend or terminate providing service for Customer or terminate Customer’s relationship with VPBank.