Common use of Coordination of Timing Clause in Contracts

Coordination of Timing. Notwithstanding paragraphs 3 and 5 of Article 3 of this Agreement: a) Singapore shall not be obligated to obtain and exchange information with respect to a calendar year that is prior to the calendar year with respect to which similar information is required to be reported to the IRS by participating FFIs pursuant to relevant U.S. Treasury Regulations; and b) Singapore shall not be obligated to begin exchanging information prior to the date by which participating FFIs are required to report similar information to the IRS under relevant U.S. Treasury Regulations.