Determine Whether a Financial Institution Is a. N onparticipating Financial Institution Payments to Which Are Subject t o Aggregate Reporting Under Subparagraph 1(b) of Article 4 of the
a) Subject to subparagraph D(3)(b) of this section, a Reporting French Financial Institution may determine that the Account Holder is a French Financial Institution or other Partner Jurisdiction Financial Institution if the Reporting French Financial Institution reasonably determines that the Account Holder has such status on the basis of the Account Holder’s Global Intermediary Identification Number on the published IRS FFI list or other information that is publicly available or in the possession of the Reporting French Financial Institution, as applicable. In such case, no further review, identification, or reporting is required with respect to the account.
b) If the Account Holder is a French Financial Institution or other Partner Jurisdiction Financial Institution treated by the IRS as a Nonparticipating Financial Institution, then the account is not a U.S. Reportable Account, but payments to the Account Holder must be reported as contemplated in subparagraph 1(b) of Article 4 of the Agreement.
c) If the Account Holder is not a French Financial Institution or other Partner Jurisdiction Financial Institution, then the Reporting French Financial Institution must treat the Account Holder as a Nonparticipating Financial Institution payments to which are reportable under subparagraph 1(b) of Article 4 of the Agreement, unless the Reporting French Financial Institution:
(1) Obtains a self-certification (which may be on an IRS Form W-8 or similar agreed form) from the Account Holder that it is a certified deemed-compliant FFI, or an exempt beneficial owner, as those terms are defined in relevant U.S. Treasury Regulations; or
(2) In the case of a participating FFI or registered deemed-compliant FFI, verifies the Account Holder’s Global Intermediary Identification Number on the published IRS FFI list.
