In its annual report filed with the SEC, New York-based Citigroup said the Associates probe covers its treatment of "certain specific tax reserves and releases during the period 2000 to 2004" related to the consumer and commercial finance company, which it bought in the fourth quarter of 2000.
The largest U.S. bank also provided more details into the agency's long-running probe into its activities in Argentina. It said that probe concerns its treatment of "certain potential Argentina-related losses" in 2001's fourth quarter.
Citigroup had previously said it believed that probe stemmed from its accounting for investments, business activities and loan-loss allowances in the fourth quarter of 2001 and first quarter of 2002. The bank in 2001 and 2002 took about $2.2 billion of charges related to Argentina.
In connection with these matters, the SEC has subpoenaed witness testimony and information related to accounting and internal controls from 1997 to 2004, Citigroup said. The bank said it is cooperating with the agency.