Common use of Foreign Assets/Account Reporting Information Clause in Contracts

Foreign Assets/Account Reporting Information. If you are a French resident and you hold securities (including Shares) or cash outside of France, you must declare all foreign bank and brokerage accounts (including the accounts that were opened and closed during the tax year) on an annual basis on a special form n°3916, together with your income tax return. If you fail to complete this reporting, you may be subject to penalties.