Common use of THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA Clause in Contracts

THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA. Both the Reinsurer and the Ceding Company agree to provide all information necessary to demonstrate compliance with the Foreign Account Tax Compliance Act (FATCA) consistent with Sections 1471 - 1474 of the U.S. Internal Revenue Code and any Treasury Regulations, or other guidance issued pursuant thereto, including, without limitation, as applicable, Forms X-0, Xxxxx X-0XXX-X, any information necessary for the parties to enter into an agreement described in Section 1471(b) of the U.S. Internal Revenue Code and to comply with the terms of that agreement or to comply with the terms of any inter-governmental agreements between the U.S. and any other jurisdictions relating to FATCA. This information will be provided promptly upon reasonable request by either party to this Agreement and promptly upon learning that any such information previously provided has become obsolete or incorrect. The parties to this Agreement acknowledge that if they fail to supply such information on a timely basis, it may be subject to a 30% U.S. withholding tax imposed on payments of U.S. source income.

Appears in 2 contracts

Samples: Facultative Yrt (Minnesota Life Individual Variable Universal Life Account), Automatic/Facultative (Minnesota Life Individual Variable Universal Life Account)

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THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA. Both the Reinsurer and the Ceding Company agree to provide all information necessary to demonstrate compliance comply with the Foreign Account Tax Compliance Act (FATCA) consistent with Sections 1471 - 1474 of the U.S. Internal Revenue Code and any Treasury Regulations, or other guidance issued pursuant thereto, including, without limitation, as applicable, Forms X-0W-0, Xxxxx X-0XXX-X, any information necessary for the parties to enter into an agreement described in Section 1471(b) of the U.S. Internal Revenue Code and to comply with the terms of that agreement or to comply with the terms of any inter-governmental agreements between the U.S. and any other jurisdictions relating to FATCA. This information will shall be provided promptly upon reasonable request by either party to this Agreement and promptly upon learning that any such information previously provided has become obsolete or incorrect. (460, C01) 10000-00-00 21 12/14/2017 The parties to this Agreement acknowledge that if they fail to supply such information on a timely basis, it may be subject to a 30% U.S. withholding tax imposed on payments of U.S. source income.

Appears in 1 contract

Samples: Reinsurance Agreement (Penn Mutual Variable Life Account I)

THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA. Both the Reinsurer and the Ceding Company agree to provide all information necessary to demonstrate compliance comply with the Foreign Account Tax Compliance Act (FATCA) consistent with Sections 1471 - 1474 of the U.S. Internal U.S.Internal Revenue Code and any Treasury Regulations, or other guidance issued pursuant thereto, including, without limitation, as applicable, Forms X-0W-9, Xxxxx X-0XXXForms W-XBBEN-E, any information necessary for the parties to enter into an agreement described in Section 1471(b) of the U.S. Internal Revenue Code and to comply with the terms of that agreement or to comply with the terms of any interInter-governmental agreements between the U.S. and any other jurisdictions relating to FATCA. This information will shall be provided promptly upon reasonable request by either party to this Agreement and promptly upon learning that any such information previously provided has become obsolete or incorrect. The parties to this Agreement acknowledge that if they fail to supply such information on a timely basis, it may be subject to a 30% U.S. withholding tax imposed on payments of U.S. source income.

Appears in 1 contract

Samples: Reinsurance Agreement (Thrivent Variable Life Account I)

THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA. Both the Reinsurer and the Ceding Company agree to provide all information necessary to demonstrate compliance with the Foreign Account Tax Compliance Act (FATCA) consistent with Sections 1471 - 1474 of the U.S. Internal Revenue Code and any Treasury Regulations, or other guidance issued pursuant thereto, including, without limitation, as applicable, Forms X-0, Xxxxx X-0XXX-X, any information necessary for the parties to enter into an agreement described in Section 1471(b147l(b) of the U.S. Internal Revenue Code and to comply with the terms of that agreement or to comply with the terms of any inter-governmental agreements between the U.S. and any other jurisdictions relating to FATCA. This information will be provided promptly upon reasonable request by either party to this Agreement and promptly upon learning that any such information previously provided has become obsolete or incorrect. The parties to this Agreement acknowledge that if they fail to supply such information on a timely basis, it may be subject to a 30% U.S. withholding tax imposed on payments of U.S. source income.

Appears in 1 contract

Samples: Facultative Yrt (Minnesota Life Individual Variable Universal Life Account)

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THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA. Both the Reinsurer and the Ceding Company agree to provide all information necessary to demonstrate compliance with the Foreign Account Tax Compliance Act (FATCA) consistent with Sections 1471 - 1474 of the U.S. Internal Revenue Code and any Treasury Regulations, or other guidance issued pursuant thereto, including, without limitation, as applicable, Forms X-0, Xxxxx X-0XXX-X, any information necessary for the parties to enter into an agreement described in Section 1471(b) of the U.S. Internal Revenue Code and to comply with the terms of that agreement or to comply with the terms of any inter-governmental agreements between the U.S. and any other jurisdictions relating to FATCA. This information will be provided promptly upon reasonable request by either party to this Agreement and promptly upon learning that any such information previously provided has become obsolete or incorrect. The parties to this Agreement acknowledge that if they fail to supply such information on a timely basisbasis following confirmed receipt, it may be subject to a 30% U.S. withholding tax imposed on payments of U.S. source income.

Appears in 1 contract

Samples: Automatic/Facultative (Minnesota Life Individual Variable Universal Life Account)

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