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.
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Samples: Agreement Between the Government of Ireland and the Government of the United States of America to Improve International Tax Compliance and to Implement Fatca, Agreement Between the Government of Ireland and the Government of the United States of America to Improve International Tax Compliance and to Implement Fatca, International Tax Compliance Agreement
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-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 selfcertification 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.Reporting
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