Common use of Time and Manner of Exchange of Information Clause in Contracts

Time and Manner of Exchange of Information. 1. For purposes of the exchange obligation in Article 2, the amount and characterization of payments made with respect to a U.S. Reportable Account may be determined in accordance with the principles of [FATCA Partner’s] tax laws, and the amount and characterization of payments made with respect to a [FATCA Partner] Reportable Account may be determined in accordance with principles of U.S. federal income tax law. 1 Date of birth will be substituted for TIN in the case of FATCA Partners that do not issue TINs. 2. For purposes of the exchange obligation in Article 2, the information exchanged shall identify the currency in which each relevant amount is denominated. 3. With respect to paragraph 2 of Article 2, information is to be obtained and exchanged with respect to 2013 and all subsequent years, except that: a) In the case of [FATCA Partner]: (1) the information to be obtained and exchanged with respect to 2013 and 2014 is only the information described in subparagraphs (a)(1) to (a)(4); (2) the information to be obtained and exchanged with respect to 2015 is the information described in subparagraphs (a)(1) to (a)(7), except for gross proceeds described in subparagraphs (a)(5)(B); and (3) the information to be obtained and exchanged with respect to 2016 and subsequent years is the information described in subparagraph (a)(1) to (a)(7); b) In the case of the United States, the information to be obtained and exchanged with respect to 2013 and subsequent years is all of the information identified in subparagraph (b). 4. Notwithstanding paragraph 3 of this Article, with respect to each Reportable Account that is a Preexisting Account, and subject to paragraph 4 of Article 6, the Parties are not required to obtain and include in the exchanged information the [FATCA Partner] TIN or the U.S. TIN, as applicable, of any relevant person if such taxpayer identifying number is not in the records of the Reporting Financial Institution. In such case, the Parties shall obtain and include in the exchanged information the date of birth of the relevant person, if the Reporting Financial Institution has such date of birth in its records.2 5. Subject to paragraphs 3 and 4 of this Article, the information described in Article 2 shall be exchanged within nine months after the end of the calendar year to which the information relates. Notwithstanding the foregoing, the information that relates to calendar year 2013 shall be exchanged no later than September 30, 2015. 6. The Competent Authorities of [FATCA Partner] and the United States will enter into an agreement under the mutual agreement procedure provided for in Article [] of the [Convention/TIEA], which will: a) establish the procedures for the automatic exchange obligations described in Article 2; b) prescribe rules and procedures as may be necessary to implement Article 5; and c) establish as necessary procedures for the exchange of the information reported under subparagraph 1(b) of Article 4.

Time and Manner of Exchange of Information. 1. For purposes of the exchange obligation in Article 2, the amount and characterization of payments made with respect to a U.S. Reportable Account may be determined in accordance with the principles of [FATCA Partner’s] the United Kingdom’s tax laws, and the amount and characterization of payments made with respect to a [FATCA Partner] United Kingdom Reportable Account may be determined in accordance with principles of U.S. federal income tax law. 1 Date of birth will be substituted for TIN in the case of FATCA Partners that do not issue TINs. 2. For purposes of the exchange obligation in Article 2, the information exchanged shall identify the currency in which each relevant amount is denominated. 3. With respect to paragraph 2 of Article 2, information is to be obtained and exchanged with respect to 2013 and all subsequent years, except that: a) In the case of [FATCA Partner]the United Kingdom: (1) the information to be obtained and exchanged with respect to 2013 and 2014 is only the information described in subparagraphs (a)(1) to (a)(4); (2) the information to be obtained and exchanged with respect to 2015 is the information described in subparagraphs (a)(1) to (a)(7), except for gross proceeds described in subparagraphs subparagraph (a)(5)(B); and (3) the information to be obtained and exchanged with respect to 2016 and subsequent years is the information described in subparagraph (a)(1) to (a)(7); b) In the case of the United States, the information to be obtained and exchanged with respect to 2013 and subsequent years is all of the information identified in subparagraph (b). 4. Notwithstanding paragraph 3 of this Article, with respect to each Reportable Account that is a Preexisting Account, and subject to paragraph 4 of Article 6: a) subject to subparagraph (b) of this paragraph 4, if the U.S TIN is not in the records of the Reporting United Kingdom Financial Institution, the date of birth of the relevant person shall be provided; and b) the Parties are not required to obtain and include in the exchanged information the [FATCA Partner] TIN date of birth or the U.S. TIN, as applicable, of any relevant person if such taxpayer identifying number date of birth or U.S. TIN is not in the records of the Reporting Financial Institution. In such case, the Parties shall obtain and include in the exchanged information the date of birth of the relevant person, if the Reporting Financial Institution has such date of birth in its records.2. 5. Subject to paragraphs 3 and 4 of this Article, the information described in Article 2 shall be exchanged within nine months after the end of the calendar year to which the information relates. Notwithstanding the foregoing, the information that relates to calendar year 2013 shall be exchanged no later than September 30, 2015. 6. The Competent Authorities of [FATCA Partner] the United Kingdom and the United States will shall enter into an agreement under the mutual agreement procedure provided for in Article [] 26 of the [Convention/TIEA], which willshall: a) establish the procedures for the automatic exchange obligations described in Article 2; b) prescribe rules and procedures as may be necessary to implement Article 5; and c) establish as necessary procedures for the exchange of the information reported under subparagraph 1(b) of Article 4. 7. All information exchanged shall be subject to the confidentiality and other protections provided for in the Convention, including the provisions limiting the use of the information exchanged.

Time and Manner of Exchange of Information. 1. For purposes of the exchange obligation in Article 2, the amount and characterization of payments made with respect to a U.S. Reportable Account may be determined in accordance with the principles of [FATCA Partner’s] Mexico’s tax laws, and the amount and characterization of payments made with respect to a [FATCA Partner] Mexican Reportable Account may be determined in accordance with principles of U.S. federal income tax law. 1 Date of birth will be substituted for TIN in the case of FATCA Partners that do not issue TINs. 2. For purposes of the exchange obligation in Article 2, the information exchanged shall identify the currency in which each relevant amount is denominated. 3. With respect to paragraph 2 of Article 2, information is to be obtained and exchanged with respect to 2013 and all subsequent years, except that: a) In the case of [FATCA Partner]Mexico: (1) the information to be obtained and exchanged with respect to 2013 and 2014 is only the information described in subparagraphs (a)(1) to (a)(4); (2) the information to be obtained and exchanged with respect to 2015 is the information described in subparagraphs (a)(1) to (a)(7), except for gross proceeds described in subparagraphs subparagraph (a)(5)(B); and (3) the information to be obtained and exchanged with respect to 2016 and subsequent years is the information described in subparagraph (a)(1) to (a)(7); b) In the case of the United States, the information to be obtained and exchanged with respect to 2013 and subsequent years is all of the information identified in subparagraph (b). 4. Notwithstanding paragraph 3 of this Article, with respect to each Reportable Account that is a Preexisting Account, and subject to paragraph 4 of Article 6, the Parties are not required to obtain and include in the exchanged information the [FATCA Partner] Mexican TIN or the U.S. TIN, as applicable, of any relevant person if such taxpayer identifying number is not in the records of the Reporting Financial Institution. In such case, the Parties shall obtain and include in the exchanged information the date of birth of the relevant person, if the Reporting Financial Institution has such date of birth in its records.2records. 5. Subject to paragraphs 3 and 4 of this Article, the information described in Article 2 shall be exchanged within nine (9) months after the end of the calendar year to which the information relates. Notwithstanding the foregoing, the information that relates to calendar year 2013 shall be exchanged no later than September 30, 2015. 6. The Competent Authorities of [FATCA Partner] Mexico and the United States will shall enter into an agreement under the mutual agreement procedure provided for in Article [] 5 of the [Convention/TIEA], which willshall: a) establish the procedures for the automatic exchange obligations of information described in Article 2; b) prescribe rules and procedures as may be necessary to implement Article 5; and c) establish as necessary procedures for the exchange of the information reported under subparagraph 1(b) of Article 4. 7. All information exchanged shall be subject to the confidentiality and other protections provided for in the Conventions, including the provisions limiting the use of the information exchanged.