Accounts Not Required to Be Reviewed, Identified, or Reported. Unless the Reporting Irish Financial Institution elects otherwise where the implementing rules in Ireland provide for such an election: 1. A New Individual Account that is a Depository Account is not required to be reviewed, identified, or reported as a U.S. Reportable Account unless the account balance exceeds $50,000 at the end of any calendar year or other appropriate reporting period. 2. A New Individual Account that is a Cash Value Insurance Contract is not required to be reviewed, identified, or reported as a U.S. Reportable Account unless the Cash Value exceeds $50,000 at the end of any calendar year or other appropriate reporting period.
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Samples: Agreement Between the Government of Ireland and the Government of the United States of America to Improve International Tax Compliance and to Implement Fatca, Agreement Between the Government of Ireland and the Government of the United States of America to Improve International Tax Compliance and to Implement Fatca, Agreement Between the Government of Ireland and the Government of the United States of America to Improve International Tax Compliance and to Implement Fatca
Accounts Not Required to Be Reviewed, Identified, or Reported. Unless the Reporting Irish Financial Institution elects otherwise where the implementing rules in Ireland provide for such an election:
1. A New Individual Account that is a Depository Account is not required to be reviewed, identified, or reported as a U.S. Reportable Account unless the account balance exceeds $50,000 at the end of any calendar year or other appropriate reporting period.
2. A New Individual Account that is a Cash Value Insurance Contract Con- tract is not required to be reviewed, identified, or reported as a U.S. Reportable Account unless the Cash Value exceeds $50,000 at the end of any calendar year or other appropriate reporting period.
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