What does this mean to me as a Vancity Community Investment Bank (VCIB) customer?

Starting July 1, 2017, VCIB is required to ask customers to self-certify their tax residency during the account opening process, and when making changes to personal information.

In compliance with federal regulations, VCIB will disclose this information to CRA so it can be shared with relevant countries. VCIB will not directly report information to foreign tax authorities.