MEMORANDUM OF UNDERSTANDING 

With regard to the Agreement between the Government of the United States of America 

and the Government of the Republic of Poland to Improve International Tax 

Compliance and to Implement FA TCA, signed at (Ja.rsa.w on Oc.f:n ~r 1 , 2014, 

(hereinafter the "Agreement"), the representatives of the United States of America and 

the Republic of Poland wish to confirm their understanding of the following: 

I. In reference to subparagraph A(l)(c) of Section V of Annex II ofthc Agreement, 

it is understood that with respect to Individual Retirement Accounts and 

Individual Retirement Plan Accounts, such plans would be understood to satisfy 

subparagraph A(l)(c) of Section V of Annex li of the Agreement if all 

withdrawals and transfers from such accounts are reported on an annual basis. 

2. Jn reference to paragraph 10 of Article 3 ofthe Agreement, it is understood that 

if the Polish Competent Authority provides written notification to the United 

States Competent Authority described in paragraph 8 of Article 3 of the 

Agreement (and the obligation of Poland to obtain and exchange information 

under Article 2 is therefore in effect under paragraph 9 of Article 3 of the 

Agreement), paragraph l 0 of Article 3 is not intended to apply to terminate the 

Agreement. 

3. In reference to subparagraph 2(a)(3) of Article 2 of the Agreement, it is 

understood that the Republic of Poland intends for each Reporting Polish 

Financial Institution to use a Global Intermediary Identification Number 

("GIIN") issued by the Internal Revenue Service as the identifying number 

referenced in Subparagraph 2(a)(3) of Article 2 of the Agreement. 

4. In reference to subparagraph I (c) of Article 4 of the Agreement, it is understood 

that the Republic of Poland intends for Polish Financial Institutions to comply 

with the registration requirements applicable to Financial Institutions in Partner 

Jurisdictions by registering with the internal Revenue Service and obtaining a 

GllN from the Internal Revenue Service. 

5. ln reference to Article 7 of the Agreement, it is understood that there is no 

application of this Article to Annex II of the Agreement. (f another Partner 

Jurisdiction ever receives the benefit of a most-favored nation provision similar 

to Article 7 with respect to Annex II, it is understood that the United States 

intends to extend the same most-favored nation treatment to the Republic of 

Poland. 

6. In reference to paragraph 1 of Article I 0 (Term of Agreement), the Government 

of the United States understands that the Republic of Poland plans to complete 

its internal approval process for the Agreement in 2014 and to bring the 

Agreement into force prior to September 30, 2015. Based on this understanding, 

as ofthe date of signature, the United States Oepartmentofthe Treasury intends 

to treat each Polish Financial Institution, as that term is defined in the 

Agreement. as complying with, and not subject to withholding under section 

1471 of the U.S. Internal Revenue Code during such time as the Republic of 
Poland is pursuing the necessary internal procedures for entry into force of the 

Agreement. The United States further understands that Poland's Ministry of 

Finance intends to contact the United States Department of the Treasury as soon 

as it is aware that there might be a delay in the Polish internal approval process 

for entry into force of the Agreement such that Poland would not be able to 

provide its notification under paragraph 1 of Article 10 of the Agreement prior to 

September 30, 2015. If upon consultation with Poland, the United States 

receives credible assurances that such a delay is likely to be resolved in a 

reasonable period of time, the United States Department of the Treasury may 

decide to continue to apply FA TCA to Polish Financial Institutions in the 

manner described above as long as the United States Department of the Treasury 

assesses that Poland is likely to be able to send its notification under paragraph I 

of Article I 0 by September 30, 20 16. ll is understood that should the Agreement 

enter into force after September 30, 2015, any information that would have been 

reportable under the Agreement thereafter (and prior to its entry into force) had 

the Agreement been in force by September 30, 2015, is owed on the September 

30 next following the date of entry into force. 

Signed at Wa.~a..w in duplicate, this day of o~t-Gbu-', 2014. 

FOR TilE UNITED STATES 

OF AMERICA: 

FOR THE REPUBLIC 

OF POLAND: