Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 146

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 146
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 result, financial institutions where the Securities are maintained have to report specified information to the tax administration on financial accounts held by U.S. persons. The tax administration in turn exchanges this information with the United States. S-105

Furthermore, the Organization of Economic
Co-operation and Development (“OECD”) released the Common Reporting Standard (“CRS”) and its Commentary on July 21, 2014. Over 100 countries, including The
Netherlands, have publicly committed to implement the CRS. On December 9, 2014, Member States adopted Directive 2014/107/EU on administrative cooperation in direct taxation (“DAC2”) which provides for mandatory automatic
exchange of financial information as foreseen in the OECD global standard. DAC2 amends the previous Directive on administrative cooperation in direct taxation, Directive 2011/16/EU (“DAC1”). Since the CRS and DAC2 were implemented
into legislation as per January 1, 2016 in most countries, financial institutions have to identify their account holder’s country of tax residence and report specified account information to the tax administration. The tax administration
in turn exchanges this information with the tax administration of the account holder’s tax jurisdiction(s).

Investors who are in
any doubt as to their position or would like to know more should consult their professional advisers.

Material Tax Consequences of Owning Conversion Shares

The material Dutch tax consequences of owning Conversion Shares are equal to the material Dutch tax
consequences of owning the Issuer’s Ordinary Shares or American Depositary Shares as described in the accompanying prospectus (under “Taxation — Material Tax Consequences of Owning American Depositary Shares — Netherlands
Taxation”).]

S-106

BENEFIT PLAN INVESTOR CONSIDERATIONS

A fiduciary of a pension, profit-sharing or other employee benefit plan subject to Title I of the U.S. Employee Retirement Income Security Act
of 1974, as amended (“ERISA”), including entities such as collective investment funds, partnerships and separate accounts whose underlying assets include the assets of such plans (collectively, “Plans”), should
consider the fiduciary standards of ERISA in the context of the Plan’s particular circumstances before authorizing an investment in the Securities offered hereby. Among other factors, the fiduciary should consider whether the investment would
satisfy the prudence and diversification requirements of ERISA and would be consistent with the documents and instruments governing the Plan, and whether the investment would involve a prohibited transaction under ERISA or