New Entity Accounts. The following rules and procedures apply for purposes of identifying U.S. Reportable Accounts and accounts held by Nonparticipating Financial Institutions among Financial Accounts held by Entities and opened on or after July 1, 2014 (“New Entity Accounts”).
New Entity Accounts. The following rules and procedures apply to accounts held by Entities and opened on or after 1 July 2014 (“New Entity Accounts”).
New Entity Accounts. The following rules and procedures apply to accounts held by entities and opened on or after January 1, 2014 (“New Entity Accounts”).
A. The Reporting [FATCA Partner] Financial Institution must determine whether the account holder is: (i) a Specified U.S. Person; (ii) a [FATCA Partner] Financial Institution or Partner Jurisdiction Financial Institution; (iii) a participating FFI, a deemed-compliant FFI, an exempt beneficial owner, or an excepted FFI, as those terms are defined in relevant U.S. Treasury Regulations; or (iv) an Active NFFE or Passive NFFE.
B. A Reporting [FATCA Partner] Financial Institution may determine that an account holder is an Active NFFE, a [FATCA Partner] Financial Institution, or a Partner Jurisdiction Financial Institution if the Reporting [FATCA Partner] Financial Institution reasonably determines that the entity has such status on the basis of information that is publicly available or in the possession of the Reporting [FATCA Partner] Financial Institution.
C. In all other cases, a Reporting [FATCA Partner] Financial Institution must obtain a self-certification from the account holder to establish the account holder’s status.
1. If the entity account holder is a Specified U.S. Person, the Reporting [FATCA Partner] Financial Institution must treat the account as a U.S. Reportable Account.
2. If the entity account holder is a Passive NFFE, the Reporting [FATCA Partner] Financial Institution must identify the Controlling Persons as determined under AML/KYC Procedures, and must determine whether any such person is a citizen or resident of the United States on the basis of a self- certification from the account holder or such person. If any such person is a citizen or resident of the United States, the account shall be treated as a U.S.
New Entity Accounts. The following rules and procedures apply to accounts held by entities and opened on or after January 1, 2014 (“New Entity Accounts”).
A. The Reporting Irish Financial Institution must determine whether the Account Holder is: (i) a Specified U.S. Person; (ii) an Irish Financial Institution or other Partner Jurisdiction Financial Institution; (iii) a participating FFI, a deemed-compliant FFI, an exempt beneficial owner, or an excepted FFI, as those terms are defined in relevant U.S. Treasury Regulations; or (iv) an Active NFFE or Passive NFFE.
B. A Reporting Irish Financial Institution may determine that an Account Holder is an Active NFFE, an Irish Financial Institution, or other Partner Jurisdiction Financial Institution if the Reporting Irish Financial Institution reasonably determines that the entity has such status on the basis of information that is publicly available or in the possession of the Reporting Irish Financial Institution.
C. In all other cases, a Reporting Irish Financial Institution must obtain a self- certification from the Account Holder to establish the Account Holder’s status.
1. If the entity Account Holder is a Specified U.S. Person, the Reporting Irish Financial Institution must treat the account as a U.S.
New Entity Accounts. The following rules and procedures apply to accounts held by entities and opened on or after January 1, 2014 (“New Entity Accounts”).
A. The Reporting Swiss Financial Institution must determine whether the Account Holder is: (i) a Specified U.S. Person; (ii) a Swiss Financial Institution or other Partner Jurisdiction Financial Institution; (iii) a participating FFI, a deemed-compliant FFI, an exempt beneficial owner, or an excepted FFI, as those terms are defined in relevant U.S. Treasury Regulations; or (iv) an Active NFFE or Passive NFFE.
B. A Reporting Swiss Financial Institution may determine that an Account Holder is an Active NFFE, a Swiss Financial Institution, or another Partner Jurisdiction Financial Institution if the Reporting Swiss Financial Institution reasonably determines that the entity has such status on the basis of information that is publicly available or in the possession of the Reporting Swiss Financial Institution.
C. In all other cases, a Reporting Swiss Financial Institution must obtain a self- certification from the Account Holder to establish the Account Holder’s status.
1. If the entity Account Holder is a Specified U.S. Person, the Reporting Swiss Financial Institution must treat the account as a U.S. Account.
2. If the entity Account Holder is a Passive NFFE, the Reporting Swiss Financial Institution must identify the Controlling Persons as determined under AML/KYC Procedures, and must determine whether any such person is a citizen or resident of the United States on the basis of a self-certification from the Account Holder or such person. If any such person is a citizen or resident of the United States, the account shall be treated as a U.S. Account.
3. If the entity Account Holder is: (i) a U.S. Person that is not a Specified U.S. Person; (ii) subject to subparagraph C (4) of this section, a Swiss Financial Institution or another Partner Jurisdiction Financial Institution; (iii) a participating FFI, a deemed-compliant FFI, an exempt beneficial owner, or an excepted FFI, as those terms are defined in relevant U.S. Treasury Regulations;
New Entity Accounts. The following rules and procedures apply for purposes of identifying U.S. Reportable Accounts and accounts held by Nonparticipating Financial Institutions among Financial Accounts held by Entities and opened on or after July 1, 2014 (“New Entity Accounts”).
A. Entity Accounts Not Required to Be Reviewed, Identified or Reported. Unless the Reporting Bahamas Financial Institution elects otherwise, either with respect to all New Entity Accounts or, separately, with respect to any clearly identified group of such accounts, where the implementing rules in The Bahamas provide for such election, a credit card account or a revolving credit facility treated as a New Entity Account is not required to be reviewed, identified, or reported, provided that the Reporting Bahamas Financial Institution maintaining such account implements policies and procedures to prevent an account balance owed to the Account Holder that exceeds $50,000.
New Entity Accounts. The following rules and procedures apply to accounts held by Entities and opened on or after 1 July 2014 (“New Entity Accounts”).
A. Entity Accounts Not Required to Be Reviewed, Identified or Reported. Unless the Reporting Financial Institution elects otherwise, either with respect to all New Entity Accounts or, separately, with respect to any clearly identified group of such accounts, where the implementing rules in both jurisdictions provide for such election, a revolving credit facility treated as a New Entity Account is not required to be reviewed, identified, or reported, provided that the Reporting Financial Institution maintaining such account, in each case applying the rules at paragraph C of section VI of this Annex I, for account aggregation and currency translation, implements policies and procedures to prevent an account balance owed to the Account Holder that exceeds $50,000.
New Entity Accounts. The following rules and procedures apply to accounts held by entities and opened on or after January 1, 2014 (“New Entity Accounts”).
A. The Reporting Danish Financial Institution must determine whether the account holder is: (i) a Specified U.S. Person; (ii) a Danish Financial Institution or other Partner Jurisdiction Financial Institution; (iii) a participating FFI, a deemed-compliant FFI, an exempt beneficial owner, or an excepted FFI, as those terms are defined in relevant U.S. Treasury Regulations; or (iv) an Active NFFE or Passive NFFE.
B. A Reporting Danish Financial Institution may determine that an account holder is an Active NFFE, a Danish Financial Institution, or other Partner Jurisdiction Financial Institution if the Reporting Danish Financial Institution reasonably determines that the entity has such status on the basis of information that is publicly available or in the possession of the Reporting Danish Financial Institution.
C. In all other cases, a Reporting Danish Financial Institution must obtain a self- certification from the account holder to establish the account holder’s status.
1. If the entity account holder is a Specified U.S. Person, the Reporting Danish Financial Institution must treat the account as a U.S.
New Entity Accounts. The following rules and procedures apply to accounts held by entities and opened on or after January 1, 2014 (“New Entity Accounts”).
A. The Reporting United Kingdom Financial Institution must determine whether the account holder is: (i) a Specified U.S. Person; (ii) a United Kingdom Financial Institution or other Partner Jurisdiction Financial Institution; (iii) a participating FFI, a deemed-compliant FFI, an exempt beneficial owner, or an excepted FFI, as those terms are defined in relevant U.S. Treasury Regulations; or (iv) an Active NFFE or Passive NFFE.
B. A Reporting United Kingdom Financial Institution may determine that an account holder is an Active NFFE, a United Kingdom Financial Institution, or other Partner Jurisdiction Financial Institution if the Reporting United Kingdom Financial Institution reasonably determines that the entity has such status on the basis of information that is publicly available or in the possession of the Reporting United Kingdom Financial Institution.
C. In all other cases, a Reporting United Kingdom Financial Institution must obtain a self-certification from the account holder to establish the account holder’s status.
1. If the entity account holder is a Specified U.S. Person, the Reporting United Kingdom Financial Institution must treat the account as a U.S.
New Entity Accounts. The following rules and procedures apply to accounts held by entities and opened on or after January 1, 2014 (“New Entity Accounts”).
A. The Reporting German Financial Institution must determine whether the Account Holder is:
(i) a Specified U.S. Person;
(ii) a German Financial Institution or other Partner Jurisdiction Financial Institution;
(iii) a participating FFI, a deemed-compliant FFI, or an exempt beneficial owner, as those terms are defined in relevant U.S. Treasury Regulations; or
(iv) an Active NFFE or Passive NFFE.
B. A Reporting German Financial Institution may determine that an Account Holder is an Active NFFE, a German Financial Institution, or other Partner Jurisdiction Financial Institution if the Reporting German Financial Institution reasonably determines that the entity has such status on the basis of information that is publicly available or in the possession of the Reporting German Financial Institution.
C. In all other cases, a Reporting German Financial Institution must obtain a self- certification from the Account Holder to establish the Account Holder’s status.
1. If the Entity Account Holder is a Specified U.S. Person, the Reporting German Financial Institution must treat the account as a U.S.
