Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 138

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 138
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 production of passive income

S-100

(including cash). If the Issuer were a PFIC, gain recognized by you on a sale or other disposition of the Securities or Conversion Shares would be allocated ratably over your holding period for
the Securities or Conversion Shares. The amounts allocated to the taxable year of the sale or other disposition and to any year before the Issuer became a PFIC would be taxed as ordinary income. The amount allocated to each other taxable year would
be subject to tax at the highest tax rate in effect for individuals or corporations, as appropriate, for that taxable year, and the interest charge generally applicable to underpayments of tax would be imposed on the resulting tax liability. Similar
treatment may apply to certain distributions. With certain exceptions, your Securities and Conversion Shares will be treated as stock in a PFIC if the Issuer were a PFIC at any time during the holding period in your Securities and Conversion Shares.
In addition, if you are a non-corporate U.S. holder dividends that you receive from the Issuer will not be eligible for the special tax rates applicable to qualified dividend income if the Issuer is a PFIC
either in the taxable year of the distribution or the preceding taxable year, but instead will be generally taxable at rates applicable to ordinary income (or in the case of certain “excess distributions,” taxable in the manner described
above for gains). You should consult your tax advisers regarding the potential application of the PFIC regime.

Foreign Account Tax Compliance Withholding.A 30% withholding tax will be imposed on certain payments to certain non-U.S. financial institutions
that fail to comply with information reporting or certification requirements and withholding requirements in respect of their direct and indirect United States shareholders and/or United States accountholders (“FATCA Withholding”). To avoid becoming subject to FATCA Withholding, the Issuer and other non-U.S. financial institutions may be required to report information to the IRS regarding the holders of
Securities and Conversion Shares and to withhold on a portion of payments under the Securities and Conversion Shares (to the extent treated as “foreign passthru payments”) to certain holders that fail to comply with the relevant
information reporting requirements (or hold Securities and Conversion Shares directly or indirectly through certain non-compliant intermediaries). However, such withholding will not apply to payments made
before the date that is two years after the date on which final regulations defining the term “foreign passthru payment” are enacted. The rules for the implementation of this withholding