Reportable Account. If the Account Holder is a Passive NFFE, the Reporting Indian Financial Institution must identify the Controlling Persons as determined under AML/KYC Procedures, and must determine whether any such person is a U.S. citizen or resident on the basis of a self- certification from the Account Holder or such person. If any such person is a U.S. citizen or resident, the Reporting Indian Financial Institution must treat the account as a U.S. Reportable Account.
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Samples: International Tax Compliance Agreement, International Tax Compliance Agreement, Agreement to Improve International Tax Compliance and to Implement Fatca
Reportable Account. If the Account Holder is a Passive NFFE, the Reporting Indian Australian Financial Institution must identify the Controlling Persons as determined under AML/KYC Procedures, and must determine whether any such person is a U.S. citizen or resident on the basis of a self- certification from the Account Holder or such person. If any such person is a U.S. citizen or resident, the Reporting Indian Australian Financial Institution must treat the account as a U.S. Reportable Account.
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