Common use of Automatic exchange of information for tax purposes Clause in Contracts

Automatic exchange of information for tax purposes. In accordance with prevailing legislation resulting from Council Directive 2014/107/EU dated 9 December 2014 as regards mandatory automatic exchange of information in the field of taxation, and with agreements entered into by France allowing automatic exchange of information for tax purposes, the Bank must transmit to the French tax authorities, for transmission to the foreign tax authorities concerned, certain information regarding the reportable financial statements of clients whose tax domicile is located outside of France in a European Union State or in a State with which an agreement on automatic exchange of information is applicable. Such information, which will be transmitted on an annual basis in electronic format, concerns in particular the country of residence for tax purposes, the tax identification number, and any income from movable assets together with the balances on reportable financial statements. For more details, the Client is invited to consult the OECD portal dedicated to the automatic exchange of information for tax purposes or the HSBC France website at this address: xxxx://xxx.xxx.xxxx.xxx/fr-fr/rbwm/france. Pursuant to the intergovernmental agreement signed between France and the USA on 14 November 2013 for application of the US regulation “Foreign Account Tax Compliance Act (FATCA)”, the Bank must, on an annual basis in electronic format, transmit certain information concerning the reportable financial statements held by “US Person” clients to the French tax authorities, for transmission to the US Internal Revenue Service (“IRS”). In this context, the Bank must ascertain the tax status of the Client in respect of said legislation and may be required to ask them to produce additional documents at any time. In case of doubt on the status of a Client and in the absence of the required documentation being supplied by them, the Bank shall consider that the Client corresponds to the qualification of “US Person” needing, in that respect, to be the subject of a declaration to the tax authorities. The Client undertakes to inform the Bank of any change likely to modify their status in respect of FATCA regulations and to transmit all required documents to it. Fonds de garantie des dépôts et de résolution (French deposit guarantee scheme) Cash deposited by the Client with the Bank, securities held by the Bank, and certain sureties issued by the Bank to the Client are covered by guarantee mechanisms managed by the Fonds de garantie des depots (French deposit guarantee scheme) under the terms and conditions defined by the French Monetary and Financial Code. The Client may obtain an explanatory leaflet on request from the Bank or the Fonds de garantie des depots (French deposit guarantee scheme) at the following address: 0 xxx Xxxxxx – 00000 Xxxxx or xxx.xxxxxxxxxxxxxxxxx.xx.

Automatic exchange of information for tax purposes. In accordance with prevailing legislation resulting from Council Directive 2014/107/EU dated 9 December 2014 as regards mandatory automatic exchange of information in the field of taxation, and with agreements entered into by France allowing automatic exchange of information for tax purposes, the Bank must transmit to the French tax authorities, for transmission to the foreign tax authorities concerned, certain information regarding the reportable financial statements of clients whose tax domicile is located outside of France in a European Union State or in a State with which an agreement on automatic exchange of information is applicable. Such information, which will be transmitted on an annual basis in electronic format, concerns in particular the country of residence for tax purposes, the tax identification number, and any income from movable assets together with the balances on reportable financial statements. For more details, the Client is invited to consult the OECD portal dedicated to the automatic exchange of information for tax purposes or the HSBC France website at this address: xxxx://xxx.xxx.xxxx.xxx/fr-fr/rbwm/france. Pursuant to the intergovernmental agreement signed between France and the USA on 14 November 2013 for application of the US regulation “Foreign Account Tax Compliance Act (FATCA)”, the Bank must, on an annual basis in electronic format, transmit certain information concerning the reportable financial statements held by “US Person” clients to the French tax authorities, for transmission to the US Internal Revenue Service (“IRS”). In this context, the Bank must ascertain the tax status of the Client in respect of said legislation and may be required to ask them to produce additional documents at any time. In case of doubt on the status of a Client and in the absence of the required documentation being supplied by them, the Bank shall consider that the Client corresponds to the qualification of “US Person” needing, in that respect, to be the subject of a declaration to the tax authorities. The Client undertakes to inform the Bank of any change likely to modify their status in respect of FATCA regulations and to transmit all required documents to it. Fonds de garantie des dépôts et de résolution (French deposit guarantee scheme) Cash deposited by the Client with the Bank, securities held by the Bank, and certain sureties issued by the Bank to the Client are covered by guarantee mechanisms managed by the Fonds de garantie des depots (French deposit guarantee scheme) under the terms and conditions defined by the French Monetary and Financial Code. The Client may obtain an explanatory leaflet on request from the Bank or the Fonds de garantie des depots (French deposit guarantee scheme) at the following address: 0 xxx Xxxxxx – - 00000 Xxxxx or xxx.xxxxxxxxxxxxxxxxx.xx.

Automatic exchange of information for tax purposes. In accordance with prevailing legislation resulting from Council Directive 2014/107/EU dated 9 December 2014 as regards mandatory automatic exchange of information in the field of taxation, taxation and with agreements entered into by France allowing permitting automatic exchange of information for tax purposes, the Bank must transmit to the French tax authorities, for transmission to the foreign tax authorities concerned, certain information regarding the reportable financial statements accounts of clients whose tax domicile is located outside of France in a European Union State or in a State with which an agreement on automatic exchange of information is applicable. Such information, which will be transmitted on an annual basis in electronic format, concerns in particular the country of residence for tax purposes, the tax identification number, and any investment income from movable assets together with the balances on reportable financial statementsaccounts. For more details, the Client is invited urged to consult the OECD portal dedicated to the automatic exchange of information for tax purposes or the HSBC France website at this address: xxxx://xxx.xxx.xxxx.xxx/fr-fr/rbwm/france. Pursuant to the intergovernmental agreement signed between France and the USA on 14 November 2013 for application of the US regulation “Foreign Account Tax Compliance Act (FATCA)”, the Bank must, on an annual basis in electronic format, transmit certain information concerning the reportable financial statements accounts held by “US Person” clients to the French tax authorities, for transmission to the US Internal Revenue Service (“IRS”). In this context, the Bank must ascertain the tax status of the Client in respect of said legislation and may be required to ask them the Client to produce additional documents at any time. In case of doubt on the status of a Client and in the absence of the required documentation being supplied by themthe Client, the Bank shall consider that the Client corresponds to the qualification of is classified as a “US Person” needingwho, in that respect, to must be the subject of a declaration to the tax authorities. The Client undertakes to inform the Bank of any change likely to modify their his/her status in respect of FATCA regulations and to transmit all required documents to it. Fonds de garantie des dépôts et de résolution (French deposit guarantee scheme) Cash deposited by the Client with the Bank, securities held by the Bank, and certain sureties issued by the Bank to the Client are covered by guarantee mechanisms managed by the Fonds de garantie des depots dépôts (French deposit guarantee scheme) under the terms and conditions defined by the French Monetary and Financial Code. The Client may obtain an explanatory leaflet on request from the Bank or the Fonds de garantie des depots (French deposit guarantee scheme) at the following address: 0 xxx Xxxxxx – 00000 Xxxxx or xxx.xxxxxxxxxxxxxxxxx.xx.