Common use of New Entity Accounts Clause in Contracts

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 [FATCA Partner] Financial Institution must determine whether the account holder Account Holder is: (i) a Specified U.S. Person; (ii) a [FATCA Partner] 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 [FATCA Partner] Financial Institution may determine that an account holder Ac- count Holder is an Active NFFE, a [FATCA Partner] Financial Institution, or a another Partner Jurisdiction Financial Institution if the Reporting [FATCA Partner] Financial Institution reasonably determines that the entity has such status on the basis of information infor- mation 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 ob- tain a self-certification from the account holder Account Holder to establish the account holderAccount Holder’s statussta- tus. 1. If the entity account holder 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 Account Holder is a Passive NFFE, the Reporting [FATCA Partner] Financial Institution must identify the Controlling Persons as determined deter- mined 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 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.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 [FATCA Part- ner] Financial Institution or another Partner Jurisdiction Financial Institution;