Important Notice the Depository Trust Company
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Important Notice The Depository Trust Company B #: 14356-20 Date: December 22, 2020 To: All Participants Category: Distributions, Tax Relief From: International Services Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers Tax Relief – Country: Korea KB FINANCIAL GROUP | CUSIP: 48241A105 Subject: Record Date: 12/30/2020 Payable Date: TBA Relief at Source CA Web Cut-Off: 01/29/2021 8:00 P.M. (ET) Participants can use DTC’s Corporate Actions Web (CA Web) service to certify all or a portion of their position entitled to the applicable withholding tax rate. Participants are urged to consult TaxInfo before certifying their elections the CA Web. Important: Prior to certifying tax withholding instructions, participants are urged to read, understand and comply with the information in the Legal Conditions category found on Tax Info on the CA Web. Questions regarding this Important Notice may be directed to GlobeTax 212-747-9100. Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy, timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions, delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any special, consequential, exemplary, incidental or punitive damages. To ensure compliance with Internal Revenue Service Circular 230, you are hereby notified that: (a) any discussion of federal tax issues contained or referred to herein is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code; and (b) as a matter of policy, DTC does not provide tax, legal or accounting advice and accordingly, you should consult your own tax, legal and accounting advisor before engaging in any transaction. DTCC offers enhanced access to all important notices via a Web-based subscription service. The notification system leverages RSS Newsfeeds, providing significant benefits including real-time updates and customizable delivery. To learn more and to set up your own DTCC RSS alerts, visit http://www.dtcc.com/subscription_form.php. DTCC Public (White) KB Financial Group Inc. has announced a cash dividend and JPMorgan Chase Bank, N.A. acts as Depositary for the Depositary Receipt (“DR”) program. DIVIDEND EVENT DETAILS COUNTRY OF A participant can use DTC’s Corporate Actions Web (“CA Web”) instructions tab to certify KOREA, REPUBLIC OF that all or a portion of his/her position is subject to the applicable withholding tax rate. Use of ISSUANCE these instruction methods will permit entitlement amounts to be paid through DTC. By making submissions of such certification, the submitter represents and warrants that it has the required authority to make; that the party for which the submission is made is eligible ISSUE KB FINANCIAL GROUP INC. therefore, and that the submitter will indemnify, as applicable, Globe Tax Services, Inc., the relevant Depositary custodian, and any other person acting, directly or indirectly, in reliance CUSIP# 48241A105 thereon, including for any loss, liability or expense which may arise in connection with any such representation and submission, including for any inaccuracy therein. UNDERLYING ISIN KR7105560007 As outlined in the Eligibility Matrix below, all qualifying holders will have the opportunity to receive their full treaty benefits on DR pay date. Holders not certified at the favorable or DEPOSITARY JPMORGAN CHASE BANK, N.A. exempt withholding tax rates through CA Web will receive the dividend net of the full Korean statutory withholding tax rate of 22% with the possibility to reclaim through the standard Long Form process. ADR RECORD DATE DECEMBER 30, 2020 ORD PAY DATE TBD Table of Contents ADR PAY DATE TBD FEES & DEADLINES ..................................................................................................................................................... 2 ELIGIBILITY MATRIX – RELIEF AT SOURCE .......................................................................................................... 3 RATIO (DR to ORD) 1 : 1 ELIGIBILITY MATRIX – RELIEF AT SOURCE (CONTINUED) ............................................................................... 4 ORD RATE TBD ADDITIONAL DOCUMENTATION REQUIREMENTS .............................................................................................. 5 ADDITIONAL DOCUMENTATION REQUIREMENTS (CONTINUED) ................................................................... 6 STATUTORY 22% ELIGIBILITY MATRIX – LONG FORM ........................................................................................................................ 7 WITHHOLDING RATE DESCRIPTION OF VARIOUS DOCUMENTATION ................................................................................................... 8 DOUBLE CLICK ICON BELOW TO DOWNLOAD CONTACT DETAILS ...................................................................................................................................................... 8 FREQUENTLY ASKED QUESTIONS (FAQs) ........................................................................................................... 9 FORMS AND ATTACHMENTS .................................................................................................................................. 10 NOTES FOR SOUTH KOREAN ESP SUBMISSIONS: Please be advised that the Korean depository is accepting electronic scans for relief-at-source for this cycle, with original documentation to be sent upon request in the future. The Korean relief at source process requires that all shares, favorable and unfavorable, be taken into account. When submitting via ESP, please enter your total record date position when prompted at the start. You will only be required to disclose on favorable shares. 1 created by FEES & DEADLINES MINIMUM FEE PAYMENT FINAL SUBMISSION FILING METHOD BATCH CUSTODIAL FEE DSC FEE PER BENEFICIAL METHOD DEADLINE (ESP) OWNER PAYMENT ON PAY JANUARY 29, 2021 RELIEF AT SOURCE VIA DTC NO FEE UP TO $0.0055 PER DR $0 DATE 8:00 P.M. EST $25.00 POST-CA WEB VIA CHECK LONG FORM KRW 50,000 UP TO $0.0080 PER DR NOVEMBER 1, 2025 PROCESS; ONGOING OR ACH *ADDITIONAL WIRE FEES MAY APPLY 2 created by ELIGIBILITY MATRIX – RELIEF AT SOURCE RATE RECLAIM SIGNATURE ELIGIBLE RESIDENTS DOCUMENTATION REQUIRED DESCRIPTION RATE REQUIRED 1. APPENDIX A 1. YES – DTC 2. COMPANY/BUSINESS PARTICIPANT REGISTRATION ID# 2. COPY LEGAL ENTITIES DOMICILIED IN SOUTH KOREA 3. ORIGINAL CERTIFICATE OF 3. N/A RESIDENCY (MUST STATE YEAR OF PAYABLE DATE) 1. YES – DTC EXEMPT - 1. APPENDIX A 22% PARTICIPANT 0% 2. FORM 29-2 2. YES – BENEFICIAL 3. SUPPORTING DOCUMENTS TO OWNER OR BROKER PROVE WORLD EXEMPT STATUS WORLD EXEMPT ENTITIES WITH POA 4. CERTIFICATE OF RESIDENCY (TAX 3. N/A YEAR MUST MATCH YEAR OF PAY 4. ORIGINAL VALID FOR 3 DATE) YEARS FROM ISSUE DATE 1. APPENDIX A 1. YES – DTC FAVORABLE - 17% CZECH REPUBLIC, KUWAIT, MONGOLIA **PLEASE SEE ADDITIONAL PARTICIPANT 5% DOCUMENTATION REQUIREMENTS ON PAGE 5** 1. APPENDIX A 1. YES – DTC FAVORABLE - 15% AZERBAIJAN **PLEASE SEE ADDITIONAL PARTICIPANT 7% DOCUMENTATION REQUIREMENTS ON PAGE 5** 1. APPENDIX A FAVORABLE - 1. YES – DTC PARTICIPANT 14% ETHIOPIA **PLEASE SEE ADDITIONAL 8% DOCUMENTATION REQUIREMENTS ON PAGE 5** ALBANIA, BAHRAIN, BRAZIL, BRUNEI, BULGARIA, CHILE, CHINA, CROATIA, ECUADOR, ESTONIA, GEORGIA, HUNGARY, 1. APPENDIX A IRAN, JORDAN, KENYA, KYRGYZSTAN, LAOS, LATVIA, 1. YES – DTC FAVORABLE - 12% LITHUANIA, MOROCCO, MYANMAR, NEPAL, OMAN, PERU, **PLEASE SEE ADDITIONAL PARTICIPANT 10% POLAND, QATAR, ROMANIA, RUSSIA, SAUDI ARABIA, SERBIA, DOCUMENTATION REQUIREMENTS ON SLOVAKIA, TAJIKISTAN, THAILAND, TURKMENISTAN, UNITED PAGE 5** ARAB EMIRATES, VENEZEULA, VIETNAM 1. APPENDIX A 1. YES – DTC FAVORABLE - COLOMBIA 11% **PLEASE SEE ADDITIONAL PARTICIPANT 11% DOCUMENTATION REQUIREMENTS ON PAGE 5** Note: 1. All documents listed in BLUE font are generated by GlobeTax’s ESP website after submission of beneficial owner data. 2. According to the Korean Income Tax Act, tax may not be withheld on positions where withholding tax amount is less than KRW 1,000. 3 created by ELIGIBILITY MATRIX – RELIEF AT SOURCE (CONTINUED) RATE RECLAIM SIGNATURE ELIGIBLE RESIDENTS DOCUMENTATION REQUIRED DESCRIPTION RATE REQUIRED 1. APPENDIX A 1. YES – DTC FAVORABLE - 9.50% PAKISTAN **PLEASE SEE ADDITIONAL PARTICIPANT 12.50% DOCUMENTATION REQUIREMENTS ON PAGE 5** ALGERIA, AUSTRALIA, AUSTRIA, BANGLADESH, BELARUS, BELGIUM, CANADA, DENMARK, EGYPT, FIJI, FINLAND, 1. APPENDIX A FRANCE, GABON, GERMANY, GREECE, HONG KONG, ICELAND, INDIA, INDONESIA, IRELAND, ISRAEL, ITALY, 1. YES – DTC FAVORABLE - 7% JAPAN, KAZAKHSTAN, LUXEMBOURG, MALTA, MEXICO, PARTICIPANT 15% **PLEASE SEE ADDITIONAL NETHERLANDS, NEW ZEALAND, NORWAY, PANAMA, PAPUA DOCUMENTATION REQUIREMENTS ON NEW GUINEA, PORTUGAL, SINGAPORE, SLOVENIA, SPAIN, PAGE 5** SRI LANKA, SWEDEN, SWITZERLAND, TUNISIA, UKRAINE, UNITED KINGDOM, URUGUAY, UZBEKISTAN 1. YES – DTC 1. APPENDIX A FAVORABLE - INDIVIDUAL RESIDENTS DOMICILED IN PARTICIPANT