Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 332

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 332
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 as derived from
sources within the United States. With respect to any dividend paid for any taxable year, the United States source ratio of our dividends for foreign tax credit purposes would be equal to the portion of our earnings and profits from sources within
the United States for such taxable year, divided by the total amount of our earnings and profits for such taxable year. There can be no assurances that we are not, or will not become, a United States-owned foreign corporation. If a portion of
dividends we pay are characterized as from sources within the United States as a result of these rules, this could adversely affect a U.S. holder’s foreign tax credit limitation (and, depending on the your circumstances, may limit your ability
to credit any Dutch withholding tax on dividends against your U.S. federal income tax liability).

Subject to certain limitations, and
subject to the discussion in the preceding paragraph, any Dutch tax withheld and paid over to The Netherlands will be creditable or deductible against your U.S. federal income tax liability. However, to the extent a reduction or refund of the
tax withheld is available to you under Dutch Law or under the Treaty, the amount that could have been reduced or that is refundable will not be eligible for credit or deduction against your U.S. federal income tax liability. Furthermore, the
Dutch withholding tax should not be creditable or deductible against your U.S. federal income tax liability to the extent that we are allowed to reduce the amount of dividend withholding tax paid over to Dutch tax administration by crediting
withholding tax imposed on certain dividends paid to us as discussed under “Netherlands Taxation—Withholding Tax” above. In addition, to the extent an amount of Dutch tax withheld is contingent on the availability of a credit
against the amount of income tax owed to another country, that amount of Dutch tax withheld will not be eligible for a credit against your United States federal income tax liability. It is unclear whether or how The Netherlands would apply this rule
in determining whether, based on the Treaty, a credit is available in the United States for purposes of the dividend withholding tax refund provision described in “Netherlands Taxation—Withholding tax”.

Special rules apply in determining the foreign tax credit limitation with respect to dividends that are subject to the preferential rates
applicable to qualified dividend income.

Because payments of dividends with respect to ordinary shares that are represented by ADSs are
generally expected to be made in euros, you will generally be required to determine the amount of dividend income by