ISSN 1102-3716

Sveriges internationella överenskommelser

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Utgiven av utrikesdepartementet

Nr 7

Avtal med Amerikas förenta stater för att förbättra internationell efterlevnad av skatteregler och för att genomföra FATCA

Stockholm den 8 augusti 2014

Regeringen beslutade den 22 maj 2014 att underteckna avtalet. Den 5 mars 2015 beslutade regeringen att underrätta Amerikas förenta stater om att av- talet har godkänts. Avtalet trädde ikraft den 11 mars 2015 efter att Amerikas förenta stater mottagit den svenska noten om det svenska godkännandet.

Riksdagsbehandling: Prop. 2014/15:41, bet. 2014/15:SkU13, rskr. 2014/15:105

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AGREEMENT BETWEEN THE GOVERNMENT OF SWEDEN AND THE GOVERNMENT OF THE UNITED STATES OF AMERICA TO IMPROVE INTERNATIONAL TAX COMPLIANCE AND TO IMPLEMENT FATCA

Whereas, the Government of Sweden and the Government of the United States of America (each, a “Party,” and together, the “Parties”) have a longstanding and close relationship with respect to mutual assistance in tax matters and desire to conclude an agreement to improve international tax compliance by further building on that relationship;

Whereas, Article 26 of the Convention Between the Government of Sweden and the Government of the United States of America for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income done at Stockholm on September 1, 1994, together with a related exchange of notes, and as amended by the Protocol done at Washington on September 30, 2005, (together the “Convention”), authorizes the exchange of information for tax purposes, including on an automatic basis;

Whereas, the United States of America enacted provisions commonly known as the Foreign Account Tax Compliance Act (“FATCA”), which introduce a reporting regime for financial institutions with respect to certain accounts;

Whereas, the Government of Sweden is supportive of the underlying policy goal of FATCA to improve tax compliance;

Whereas, XXXXX has raised a number of issues, including that Swedish financial institutions may not be able to comply with certain aspects of FATCA due to domestic legal impediments;

Whereas, the Government of the United States of America collects information regarding certain accounts maintained by U.S. financial institutions held by residents of Sweden and is committed to exchanging such information with the Government of Sweden and pursuing equivalent levels of exchange, provided that the appropriate safeguards and infrastructure for an effective exchange relationship are in place;

Whereas, the Parties are committed to working together over the longer term towards achieving common reporting and due diligence standards for financial institutions;

Whereas, the Government of the United States of America acknowledges the need to coordinate the reporting obligations under FATCA with other

U.S. tax reporting obligations of Swedish financial institutions to avoid duplicative reporting;

Whereas, an intergovernmental approach to FATCA implementation would address legal impediments and reduce burdens for Swedish financial institutions;

Whereas, the Parties desire to conclude an agreement to improve international tax compliance and provide for the implementation of FATCA based on domestic reporting and reciprocal automatic exchange pursuant to the Convention, and subject to the confidentiality and other protections provided for therein, including the provisions limiting the use of the information exchanged under the Convention;

Now, therefore, the Parties have agreed as follows:

Article 1 Definitions

1. For purposes of this agreement and any annexes thereto (“Agreement”), the following terms shall have the meanings set forth below:

a) The term “United States” means the United States of America, including the States thereof, and, when used in a geographical sense, means the territory of the United States of America, including inland waters, the air space, the territorial sea thereof and any maritime area beyond the territorial sea within which the United States may exercise sovereign rights or jurisdiction in accordance with international law; the term, however, does not include the U.S. Territories. Any reference to a “State” of the United States includes the District of Columbia.

b) The term “U.S. Territory” means American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico, or the U.S. Virgin Islands.

c) The term “IRS” means the U.S. Internal Revenue Service.

d) The term “Sweden” means the Kingdom of Sweden and, when used in a geographical sense, includes the national territory, the territorial sea as well as other maritime areas over which Sweden may exercise sovereign rights or jurisdiction, in accordance with international law.

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SÖ 2015:7 e) The term “Partner Jurisdiction” means a jurisdiction that has in effect an agreement with the United States to facilitate the implementation of FATCA. The IRS shall publish a list identifying all Partner Jurisdictions.

f) The term “Competent Authority” means:

(1) in the case of the United States, the Secretary of the Treasury or his delegate; and

(2) in the case of Sweden, the Minister of Finance, his authorized representative or the authority which is designated as a competent authority for the purposes of this Agreement.

g) The term “Financial Institution” means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.

h) The term “Custodial Institution” means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity’s gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.

i) The term “Depository Institution” means any Entity that accepts deposits in the ordinary course of a banking or similar business.

j) The term “Investment Entity” means any Entity that conducts as a business (or is managed by an entity that conducts as a business) one or more of the following activities or operations for or on behalf of a customer:

(1) trading in money market instruments (cheques, bills, certificates of deposit, derivatives, etc.); foreign exchange; exchange, interest rate and index instruments; transferable securities; or commodity futures trading;

(2) individual and collective portfolio management; or

(3) otherwise investing, administering, or managing funds or money on behalf of other persons.

This subparagraph 1(j) shall be interpreted in a manner consistent with similar language set forth in the definition of “financial institution” in the Financial Action Task Force Recommendations.

k) The term “Specified Insurance Company” means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

l) The term “Swedish Financial Institution” means (i) any Financial Institution resident in Sweden, but excluding any branch of such Financial Institution that is located outside Sweden, and (ii) any branch of a Financial Institution not resident in Sweden, if such branch is located in Sweden.

m) The term “Partner Jurisdiction Financial Institution” means (i) any Financial Institution established in a Partner Jurisdiction, but excluding any branch of such Financial Institution that is located outside the Partner Jurisdiction, and (ii) any branch of a Financial Institution not established in the Partner Jurisdiction, if such branch is located in the Partner Jurisdiction.

n) The term “Reporting Financial Institution” means a Reporting Swedish Financial Institution or a Reporting

U.S. Financial Institution, as the context requires.

o) The term “Reporting Swedish Financial Institution” means any Swedish Financial Institution that is not a Non-Reporting Swedish Financial Institution.

p) The term “Reporting U.S. Financial Institution” means (i) any Financial Institution that is resident in the United States, but excluding any branch of such Financial Institution that is located outside the United States, and (ii) any branch of a Financial Institution not resident in the United States, if such branch is located in the United States, provided that the Financial Institution or branch has control, receipt, or custody of income with respect to which information is required to be exchanged under subparagraph (2)(b) of Article 2 of this Agreement.

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SÖ 2015:7 q) The term “Non-Reporting Swedish Financial Institution” means any Swedish Financial Institution, or other Entity resident in Sweden, that is described in Annex II as a Non-Reporting Swedish Financial Institution or that otherwise qualifies as a deemed- compliant FFI or an exempt beneficial owner under relevant U.S. Treasury Regulations in effect on the date of signature of this Agreement.

r) The term “Nonparticipating Financial Institution” means a nonparticipating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a Swedish Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution treated as a Nonparticipating Financial Institution pursuant to subparagraph 2(b) of Article 5 of this Agreement or the corresponding provision in an agreement between the United States and a Partner Jurisdiction.

s) The term “Financial Account” means an account maintained by a Financial Institution, and includes:

(1) in the case of an Entity that is a Financial Institution solely because it is an Investment Entity, any equity or debt interest (other than interests that are regularly traded on an established securities market) in the Financial Institution;

(2) in the case of a Financial Institution not described in subparagraph 1(s)(1) of this Article, any equity or debt interest in the Financial Institution (other than interests that are regularly traded on an established securities market), if (i) the value of the debt or equity interest is determined, directly or indirectly, primarily by reference to assets that give rise to U.S. Source Withholdable Payments, and (ii) the class of interests was established with a purpose of avoiding reporting in accordance with this Agreement; and

(3) any Cash Value Insurance Contract and any Annuity Contract issued or maintained by a Financial Institution, other than a noninvestment-linked, nontransferable immediate life annuity that is issued to an individual and monetizes a pension or disability benefit provided under an account

that is excluded from the definition of Financial Account in Annex II.

Notwithstanding the foregoing, the term “Financial Account” does not include any account that is excluded from the definition of Financial Account in Annex II. For purposes of this Agreement, interests are “regularly traded” if there is a meaningful volume of trading with respect to the interests on an ongoing basis, and an “established securities market” means an exchange that is officially recognized and supervised by a governmental authority in which the market is located and that has a meaningful annual value of shares traded on the exchange. For purposes of this subparagraph 1(s), an interest in a Financial Institution is not “regularly traded” and shall be treated as a Financial Account if the holder of the interest (other than a Financial Institution acting as an intermediary) is registered on the books of such Financial Institution. The preceding sentence will not apply to interests first registered on the books of such Financial Institution prior to July 1, 2014, and with respect to interests first registered on the books of such Financial Institution on or after July 1, 2014, a Financial Institution is not required to apply the preceding sentence prior to January 1, 2016.

t) The term “Depository Account” includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

u) The term “Custodial Account” means an account (other than an Insurance Contract or Annuity Contract) for the benefit of another person that holds any financial instrument or contract held for investment (including, but not limited to, a share or stock in a corporation, a note, bond, debenture, or other evidence of indebtedness, a currency or commodity transaction, a credit default swap, a swap based upon a nonfinancial index, a notional principal contract, an Insurance Contract or Annuity Contract, and any option or other derivative instrument).

v) The term “Equity Interest” means, in the case of a partnership that is a Financial Institution, either a capital or profits interest in the partnership. In the case of a trust that is a Financial Institution, an Equity Interest is considered to be held by any person treated as a settlor or beneficiary of all or a portion of the trust, or any other natural person exercising ultimate

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SÖ 2015:7 effective control over the trust. A Specified U.S. Person shall be treated as being a beneficiary of a foreign trust if such Specified U.S. Person has the right to receive directly or indirectly (for example, through a nominee) a mandatory distribution or may receive, directly or indirectly, a discretionary distribution from the trust.

w) The term “Insurance Contract” means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

x) The term “Annuity Contract” means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

y) The term “Cash Value Insurance Contract” means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

z) The term “Cash Value” means the greater of (i) the amount that the policyholder is entitled to receive upon surrender or termination of the contract (determined without reduction for any surrender charge or policy loan), and (ii) the amount the policyholder can borrow under or with regard to the contract. Notwithstanding the foregoing, the term “Cash Value” does not include an amount payable under an Insurance Contract as:

(1) a personal injury or sickness benefit or other benefit providing indemnification of an economic loss incurred upon the occurrence of the event insured against;

(2) a refund to the policyholder of a previously paid premium under an Insurance Contract (other than under a life insurance contract) due to policy cancellation or termination, decrease in risk exposure during the effective period of the Insurance Contract, or arising from a redetermination of the premium due to correction of posting or other similar error; or

(3) a policyholder dividend based upon the underwriting experience of the contract or group involved.

aa) The term “Reportable Account” means a U.S. Reportable Account or a Swedish Reportable Account, as the context requires.

bb) The term “Swedish Reportable Account” means a Financial Account maintained by a Reporting U.S. Financial Institution if: (i) in the case of a Depository Account, the account is held by an individual resident in Sweden and more than $10 of interest is paid to such account in any given calendar year; or (ii) in the case of a Financial Account other than a Depository Account, the Account Holder is a resident of Sweden, including an Entity that certifies that it is resident in Sweden for tax purposes, with respect to which U.S. source income that is subject to reporting under chapter 3 of subtitle A or chapter 61 of subtitle F of the U.S. Internal Revenue Code is paid or credited.

cc) The term “U.S. Reportable Account” means a Financial Account maintained by a Reporting Swedish Financial Institution and held by one or more Specified

U.S. Persons or by a Non-U.S. Entity with one or more Controlling Persons that is a Specified U.S. Person. Notwithstanding the foregoing, an account shall not be treated as a U.S. Reportable Account if such account is not identified as a U.S. Reportable Account after application of the due diligence procedures in Annex I.

dd) The term “Account Holder” means the person listed or identified as the holder of a Financial Account by the Financial Institution that maintains the account. A person, other than a Financial Institution, holding a Financial Account for the benefit or account of another person as agent, custodian, nominee, signatory, investment advisor, or intermediary, is not treated as holding the account for purposes of this Agreement, and such other person is treated as holding the account. For purposes of the immediately preceding sentence, the term “Financial Institution” does not include a Financial Institution organized or incorporated in a

U.S. Territory. In the case of a Cash Value Insurance Contract or an Annuity Contract, the Account Holder is any person entitled to access the Cash Value or change the beneficiary of the contract. If no person can access the Cash Value or change the beneficiary, the Account

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SÖ 2015:7 Holder is any person named as the owner in the contract and any person with a vested entitlement to payment under the terms of the contract. Upon the maturity of a Cash Value Insurance Contract or an Annuity Contract, each person entitled to receive a payment under the contract is treated as an Account Holder.

ee) The term “U.S. Person” means a U.S. citizen or resident individual, a partnership or corporation organized in the United States or under the laws of the United States or any State thereof, a trust if (i) a court within the United States would have authority under applicable law to render orders or judgments concerning substantially all issues regarding administration of the trust, and (ii) one or more U.S. persons have the authority to control all substantial decisions of the trust, or an estate of a decedent that is a citizen or resident of the United States. This subparagraph 1(ee) shall be interpreted in accordance with the U.S. Internal Revenue Code.

ff) The term “Specified U.S. Person” means a U.S. Person, other than: (i) a corporation the stock of which is regularly traded on one or more established securities markets; (ii) any corporation that is a member of the same expanded affiliated group, as defined in section 1471(e)(2) of the U.S. Internal Revenue Code, as a corporation described in clause (i);

(iii) the United States or any wholly owned agency or instrumentality thereof; (iv) any State of the United States, any U.S. Territory, any political subdivision of any of the foregoing, or any wholly owned agency or instrumentality of any one or more of the foregoing;

(v) any organization exempt from taxation under section 501(a) of the U.S. Internal Revenue Code or an individual retirement plan as defined in section 7701(a)(37) of the U.S. Internal Revenue Code; (vi) any bank as defined in section 581 of the U.S. Internal Revenue Code; (vii) any real estate investment trust as defined in section 856 of the U.S. Internal Revenue Code; (viii) any regulated investment company as defined in section 851 of the U.S. Internal Revenue Code or any entity registered with the U.S. Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. 80a-64); (ix) any common trust fund as defined in section 584(a) of the

U.S. Internal Revenue Code; (x) any trust that is exempt from tax under section 664(c) of the U.S. Internal Revenue Code or that is described in section 4947(a)(1) of the U.S. Internal Revenue Code; (xi) a

dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any State; (xii) a broker as defined in section 6045(c) of the U.S. Internal Revenue Code; or (xiii) any tax-exempt trust under a plan that is described in section 403(b) or section 457(g) of the U.S. Internal Revenue Code.

gg) The term “Entity” means a legal person or a legal arrangement such as a trust.

hh) The term “Non-U.S. Entity” means an Entity that is not a U.S. Person.

ii) The term “U.S. Source Withholdable Payment” means any payment of interest (including any original issue discount), dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, and other fixed or determinable annual or periodical gains, profits, and income, if such payment is from sources within the United States. Notwithstanding the foregoing, a U.S. Source Withholdable Payment does not include any payment that is not treated as a withholdable payment in relevant U.S. Treasury Regulations.

jj) An Entity is a “Related Entity” of another Entity if either Entity controls the other Entity, or the two Entities are under common control. For this purpose control includes direct or indirect ownership of more than 50 percent of the vote or value in an Entity. Notwithstanding the foregoing, Sweden may treat an Entity as not a Related Entity of another Entity if the two Entities are not members of the same expanded affiliated group as defined in section 1471(e)(2) of the

U.S. Internal Revenue Code.

kk) The term “U.S. TIN” means a U.S. federal taxpayer identifying number.

ll) The term “Swedish TIN” means a Swedish taxpayer identifying number.

mm) The term “Controlling Persons” means the natural persons who exercise control over an Entity. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case

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SÖ 2015:7 of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term “Controlling Persons” shall be interpreted in a manner consistent with the Financial Action Task Force Recommendations.

2. Any term not otherwise defined in this Agreement shall, unless the context otherwise requires or the Competent Authorities agree to a common meaning (as permitted by domestic law), have the meaning that it has at that time under the law of the Party applying this Agreement, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.

Article 2

Obligations to Obtain and Exchange Information with Respect to Reportable Accounts

1. Subject to the provisions of Article 3 of this Agreement, each Party shall obtain the information specified in paragraph 2 of this Article with respect to all Reportable Accounts and shall annually exchange this information with the other Party on an automatic basis pursuant to the provisions of Article 26 of the Convention.

2. The information to be obtained and exchanged is:

a) In the case of Sweden with respect to each U.S. Reportable Account of each Reporting Swedish Financial Institution:

(1) the name, address, and U.S. TIN of each Specified U.S. Person that is an Account Holder of such account and, in the case of a Non-U.S. Entity that, after application of the due diligence procedures set forth in Annex I, is identified as having one or more Controlling Persons that is a Specified U.S. Xxxxxx, the name, address, and U.S. TIN (if any) of such entity and each such Specified

U.S. Person;

(2) the account number (or functional equivalent in the absence of an account number);

(3) the name and identifying number of the Reporting Swedish Financial Institution;

(4) the account balance or value (including, in the case of a Cash Value Insurance Contract or Annuity Contract, the Cash Value or surrender value) as of the end of the relevant calendar year or other appropriate reporting period or,

if the account was closed during such year, immediately before closure;

(5) in the case of any Custodial Account:

(A) the total gross amount of interest, the total gross amount of dividends, and the total gross amount of other income generated with respect to the assets held in the account, in each case paid or credited to the account (or with respect to the account) during the calendar year or other appropriate reporting period; and

(B) the total gross proceeds from the sale or redemption of property paid or credited to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Swedish Financial Institution acted as a custodian, broker, nominee, or otherwise as an agent for the Account Holder;

(6) in the case of any Depository Account, the total gross amount of interest paid or credited to the account during the calendar year or other appropriate reporting period; and

(7) in the case of any account not described in subparagraph 2(a)(5) or 2(a)(6) of this Article, the total gross amount paid or credited to the Account Holder with respect to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Swedish Financial Institution is the obligor or debtor, including the aggregate amount of any redemption payments made to the Account Holder during the calendar year or other appropriate reporting period.

b) In the case of the United States, with respect to each Swedish Reportable Account of each Reporting U.S. Financial Institution:

(1) the name, address, and Swedish TIN of any person that is a resident of Sweden and is an Account Holder of the account;

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SÖ 2015:7 (2) the account number (or the functional equivalent in the absence of an account number);

(3) the name and identifying number of the Reporting U.S. Financial Institution;

(4) the gross amount of interest paid on a Depository Account;

(5) the gross amount of U.S. source dividends paid or credited to the account; and

(6) the gross amount of other U.S. source income paid or credited to the account, to the extent subject to reporting under chapter 3 of subtitle A or chapter 61 of subtitle F of the U.S. Internal Revenue Code.

Article 3

Time and Manner of Exchange of Information

1. For purposes of the exchange obligation in Article 2 of this Agreement, the amount and characterization of payments made with respect to a U.S. Reportable Account may be determined in accordance with the principles of the tax laws of Sweden, and the amount and characterization of payments made with respect to a Swedish Reportable Account may be determined in accordance with principles of U.S. federal income tax law.

2. For purposes of the exchange obligation in Article 2 of this Agreement, the information exchanged shall identify the currency in which each relevant amount is denominated.

3. With respect to paragraph 2 of Article 2 of this Agreement, information is to be obtained and exchanged with respect to 2014 and all subsequent years, except that:

a) In the case of Sweden:

(1) the information to be obtained and exchanged with respect to 2014 is only the information described in subparagraphs 2(a)(1) through 2(a)(4) of Article 2 of this Agreement;

(2) the information to be obtained and exchanged with respect to 2015 is the information described in subparagraphs 2(a)(1) through 2(a)(7) of Article 2 of this Agreement, except for gross proceeds described in subparagraph 2(a)(5)(B) of Article 2 of this Agreement; and

(3) the information to be obtained and exchanged with respect to 2016 and subsequent years is the information described in subparagraphs 2(a)(1) through 2(a)(7) of Article 2 of this Agreement;

b) In the case of the United States, the information to be obtained and exchanged with respect to 2014 and subsequent years is all of the information identified in subparagraph 2(b) of Article 2 of this Agreement.

4. Notwithstanding paragraph 3 of this Article, with respect to each Reportable Account that is maintained by a Reporting Financial Institution as of June 30, 2014, and subject to paragraph 4 of Article 6 of this Agreement, the Parties are not required to obtain and include in the exchanged information the Swedish 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 a 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.

5. Subject to paragraphs 3 and 4 of this Article, the information described in Article 2 of this Agreement shall be exchanged within nine months after the end of the calendar year to which the information relates.

6. The Competent Authorities of Sweden and the United States shall enter into an agreement or arrangement under the mutual agreement procedure provided for in Article 25 of the Convention, which shall:

a) establish the procedures for the automatic exchange obligations described in Article 2 of this Agreement;

b) prescribe rules and procedures as may be necessary to implement Article 5 of this Agreement; and

c) establish as necessary procedures for the exchange of the information reported under subparagraph 1(b) of Article 4 of this Agreement.

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.

8. Following entry into force of this Agreement, each Competent Authority shall provide written notification to the other Competent Authority when it is satisfied that the jurisdiction of the other Competent Authority has in place (i) appropriate safeguards to ensure that the information received pursuant to this Agreement shall remain confidential and be used solely for tax purposes, and (ii) the

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SÖ 2015:7 infrastructure for an effective exchange relationship (including established processes for ensuring timely, accurate, and confidential information exchanges, effective and reliable communications, and demonstrated capabilities to promptly resolve questions and concerns about exchanges or requests for exchanges and to administer the provisions of Article 5 of this Agreement). The Competent Authorities shall endeavor in good faith to meet, prior to September 2015, to establish that each jurisdiction has such safeguards and infrastructure in place.

9. The obligations of the Parties to obtain and exchange information under Article 2 of this Agreement shall take effect on the date of the later of the written notifications described in paragraph 8 of this Article. Notwithstanding the foregoing, if the Swedish Competent Authority is satisfied that the United States has the safeguards and infrastructure described in paragraph 8 of this Article in place, but additional time is necessary for the U.S. Competent Authority to establish that Sweden has such safeguards and infrastructure in place, the obligation of Sweden to obtain and exchange information under Article 2 of this Agreement shall take effect on the date of the written notification provided by the Swedish Competent Authority to the U.S. Competent Authority pursuant to paragraph 8 of this Article.

10. This Agreement shall terminate on September 30, 2015, if Article 2 of this Agreement is not in effect for either Party pursuant to paragraph 9 of this Article by that date.

Article 4

Application of FATCA to Swedish Financial Institutions

1. Treatment of Reporting Swedish Financial Institutions. Each Reporting Swedish Financial Institution shall be treated as complying with, and not subject to withholding under, section 1471 of the U.S. Internal Revenue Code if Sweden complies with its obligations under Articles 2 and 3 of this Agreement with respect to such Reporting Swedish Financial Institution, and the Reporting Swedish Financial Institution:

a) identifies U.S. Reportable Accounts and reports annually to the Swedish Competent Authority the information required to be reported in subparagraph 2(a) of Article 2 of this Agreement in the time and manner described in Article 3 of this Agreement;

b) for each of 2015 and 2016, reports annually to the Swedish Competent Authority the name of each Nonparticipating Financial Institution to which it has made payments and the aggregate amount of such payments;

c) complies with the applicable registration requirements on the IRS FATCA registration website;

d) to the extent that a Reporting Swedish Financial Institution is (i) acting as a qualified intermediary (for purposes of section 1441 of the U.S. Internal Revenue Code) that has elected to assume primary withholding responsibility under chapter 3 of subtitle A of the U.S. Internal Revenue Code, (ii) a foreign partnership that has elected to act as a withholding foreign partnership (for purposes of both sections 1441 and 1471 of the

U.S. Internal Revenue Code), or (iii) a foreign trust that has elected to act as a withholding foreign trust (for purposes of both sections 1441 and 1471 of the U.S. Internal Revenue Code), withholds 30 percent of any

U.S. Source Withholdable Payment to any Nonparticipating Financial Institution; and

e) in the case of a Reporting Swedish Financial Institution that is not described in subparagraph 1(d) of this Article and that makes a payment of, or acts as an intermediary with respect to, a U.S. Source Withholdable Payment to any Nonparticipating Financial Institution, the Reporting Swedish Financial Institution provides to any immediate payor of such

U.S. Source Withholdable Payment the information required for withholding and reporting to occur with respect to such payment.

Notwithstanding the foregoing, a Reporting Swedish Financial Institution with respect to which the conditions of this paragraph 1 are not satisfied shall not be subject to withholding under section 1471 of the U.S. Internal Revenue Code unless such Reporting Swedish Financial Institution is treated by the IRS as a Nonparticipating Financial Institution pursuant to subparagraph 2(b) of Article 5 of this Agreement.

2. Suspension of Rules Relating to Recalcitrant Accounts. The United States shall not require a Reporting Swedish Financial Institution to withhold tax under section 1471 or 1472 of the U.S. Internal Revenue Code with respect to an account held by a recalcitrant account holder (as defined in section 1471(d)(6) of the U.S. Internal Revenue Code), or to close such account, if the U.S. Competent Authority receives the information set forth in subparagraph 2(a) of Article 2 of this Agreement, subject to the provisions of Article 3 of this Agreement, with respect to such account.

3. Specific Treatment of Swedish Retirement Plans. The United States shall treat as deemed-compliant FFIs or exempt beneficial owners, as appropriate, for purposes of sections 1471 and 1472 of the

U.S. Internal Revenue Code, Swedish retirement plans described in Annex II. For this purpose, a Swedish retirement plan includes an Entity

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SÖ 2015:7 established or located in, and regulated by, Sweden, or a predetermined contractual or legal arrangement, operated to provide pension or retirement benefits or earn income for providing such benefits under the laws of Sweden and regulated with respect to contributions, distributions, reporting, sponsorship, and taxation.

4. Identification and Treatment of Other Deemed-Compliant FFIs and Exempt Beneficial Owners. The United States shall treat each Non-Reporting Swedish Financial Institution as a deemed- compliant FFI or as an exempt beneficial owner, as appropriate, for purposes of section 1471 of the U.S. Internal Revenue Code.

5. Special Rules Regarding Related Entities and Branches That Are Nonparticipating Financial Institutions. If a Swedish Financial Institution, that otherwise meets the requirements described in paragraph 1 of this Article or is described in paragraph 3 or 4 of this Article, has a Related Entity or branch that operates in a jurisdiction that prevents such Related Entity or branch from fulfilling the requirements of a participating FFI or deemed-compliant FFI for purposes of section 1471 of the U.S. Internal Revenue Code or has a Related Entity or branch that is treated as a Nonparticipating Financial Institution solely due to the expiration of the transitional rule for limited FFIs and limited branches under relevant U.S. Treasury Regulations, such Swedish Financial Institution shall continue to be in compliance with the terms of this Agreement and shall continue to be treated as a deemed-compliant FFI or exempt beneficial owner, as appropriate, for purposes of section 1471 of the U.S. Internal Revenue Code, provided that:

a) the Swedish Financial Institution treats each such Related Entity or branch as a separate Nonparticipating Financial Institution for purposes of all the reporting and withholding requirements of this Agreement and each such Related Entity or branch identifies itself to withholding agents as a Nonparticipating Financial Institution;

b) each such Related Entity or branch identifies its U.S. accounts and reports the information with respect to those accounts as required under section 1471 of the

U.S. Internal Revenue Code to the extent permitted under the relevant laws pertaining to the Related Entity or branch; and

c) such Related Entity or branch does not specifically solicit U.S. accounts held by persons that are not resident in the jurisdiction where such Related Entity or branch is located or accounts held by Nonparticipating Financial Institutions that are not established in the jurisdiction where such Related Entity or branch is located, and such Related Entity or branch is not used by the Swedish Financial Institution

or any other Related Entity to circumvent the obligations under this Agreement or under section 1471 of the U.S. Internal Revenue Code, as appropriate.

6. Coordination of Timing. Notwithstanding paragraphs 3 and 5 of Article 3 of this Agreement:

a) Sweden shall not be obligated to obtain and exchange information with respect to a calendar year that is prior to the calendar year with respect to which similar information is required to be reported to the IRS by participating FFIs pursuant to relevant U.S. Treasury Regulations;

b) Sweden shall not be obligated to begin exchanging information prior to the date by which participating FFIs are required to report similar information to the IRS under relevant U.S. Treasury Regulations;

c) the United States shall not be obligated to obtain and exchange information with respect to a calendar year that is prior to the first calendar year with respect to which Sweden is required to obtain and exchange information; and

d) the United States shall not be obligated to begin exchanging information prior to the date by which Sweden is required to begin exchanging information.

7. Coordination of Definitions with U.S. Treasury Regulations. Notwithstanding Article 1 of this Agreement and the definitions provided in the Annexes to this Agreement, in implementing this Agreement, Sweden may use, and may permit Swedish Financial Institutions to use, a definition in relevant U.S. Treasury Regulations in lieu of a corresponding definition in this Agreement, provided that such application would not frustrate the purposes of this Agreement.

Article 5

Collaboration on Compliance and Enforcement

1. Minor and Administrative Errors. A Competent Authority shall notify the Competent Authority of the other Party when the first- mentioned Competent Authority has reason to believe that administrative errors or other minor errors may have led to incorrect or incomplete information reporting or resulted in other infringements of this Agreement. The Competent Authority of such other Party shall apply its domestic law (including applicable penalties) to obtain corrected and/or complete information or to resolve other infringements of this Agreement.

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SÖ 2015:7 2. Significant Non-Compliance.

a) A Competent Authority shall notify the Competent Authority of the other Party when the first-mentioned Competent Authority has determined that there is significant non-compliance with the obligations under this Agreement with respect to a Reporting Financial Institution in the other jurisdiction. The Competent Authority of such other Party shall apply its domestic law (including applicable penalties) to address the significant non-compliance described in the notice.

b) If, in the case of a Reporting Swedish Financial Institution, such enforcement actions do not resolve the non-compliance within a period of 18 months after notification of significant non-compliance is first provided, the United States shall treat the Reporting Swedish Financial Institution as a Nonparticipating Financial Institution pursuant to this subparagraph 2(b).

3. Reliance on Third Party Service Providers. Each Party may allow Reporting Financial Institutions to use third party service providers to fulfill the obligations imposed on such Reporting Financial Institutions by a Party, as contemplated in this Agreement, but these obligations shall remain the responsibility of the Reporting Financial Institutions.

4. Prevention of Avoidance. The Parties shall implement as necessary requirements to prevent Financial Institutions from adopting practices intended to circumvent the reporting required under this Agreement.

Article 6

Mutual Commitment to Continue to Enhance the Effectiveness of Information Exchange and Transparency

1. Reciprocity. The Government of the United States acknowledges the need to achieve equivalent levels of reciprocal automatic information exchange with Sweden. The Government of the United States is committed to further improve transparency and enhance the exchange relationship with Sweden by pursuing the adoption of regulations and advocating and supporting relevant legislation to achieve such equivalent levels of reciprocal automatic information exchange.

2. Treatment of Passthru Payments and Gross Proceeds. The Parties are committed to work together, along with Partner Jurisdictions, to develop a practical and effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden.

3. Development of Common Reporting and Exchange Model. The Parties are committed to working with Partner Jurisdictions, the Organisation for Economic Co-operation and Development, and the European Union, on adapting the terms of this Agreement and other agreements between the United States and Partner Jurisdictions to a common model for automatic exchange of information, including the development of reporting and due diligence standards for financial institutions.

4. Documentation of Accounts Maintained as of June 30, 2014. With respect to Reportable Accounts maintained by a Reporting Financial Institution as of June 30, 2014:

a) The United States commits to establish, by January 1, 2017, for reporting with respect to 2017 and subsequent years, rules requiring Reporting U.S. Financial Institutions to obtain and report the Swedish TIN of each Account Holder of a Swedish Reportable Account as required pursuant to subparagraph 2(b)(1) of Article 2 of this Agreement; and

b) Sweden commits to establish, by January 1, 2017, for reporting with respect to 2017 and subsequent years, rules requiring Reporting Swedish Financial Institutions to obtain the U.S. TIN of each Specified

U.S. Person as required pursuant to subparagraph 2(a)(1) of Article 2 of this Agreement.

Article 7

Consistency in the Application of FATCA to Partner Jurisdictions

1. Sweden shall be granted the benefit of any more favorable terms under Article 4 or Annex I of this Agreement relating to the application of FATCA to Swedish Financial Institutions afforded to another Partner Jurisdiction under a signed bilateral agreement pursuant to which the other Partner Jurisdiction commits to undertake the same obligations as Sweden described in Articles 2 and 3 of this Agreement, and subject to the same terms and conditions as described therein and in Articles 5 through 9 of this Agreement.

2. The United States shall notify Sweden of any such more favorable terms, and such more favorable terms shall apply automatically under this Agreement as if such terms were specified in this Agreement and effective as of the date of the signing of the agreement incorporating the more favorable terms, unless Sweden declines in writing the application thereof.

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SÖ 2015:7 Article 8

Consultations and Amendments

1. In case any difficulties in the implementation of this Agreement arise, either Party may request consultations to develop appropriate measures to ensure the fulfillment of this Agreement.

2. This Agreement may be amended by written mutual agreement of the Parties. Unless otherwise agreed upon, such an amendment shall enter into force through the same procedures as set forth in paragraph 1 of Article 10 of this Agreement.

Article 9 Annexes

The Annexes form an integral part of this Agreement.

Article 10 Term of Agreement

1. This Agreement shall enter into force on the date of Sweden’s written notification to the United States that Sweden has completed its necessary internal procedures for entry into force of this Agreement.

2. Either Party may terminate this Agreement by giving notice of termination in writing to the other Party. Such termination shall become effective on the first day of the month following the expiration of a period of 12 months after the date of the notice of termination.

3. The Parties shall, prior to December 31, 2016, consult in good faith to amend this Agreement as necessary to reflect progress on the commitments set forth in Article 6 of this Agreement.

In witness whereof, the undersigned, being duly authorized thereto by their respective Governments, have signed this Agreement.

Done at Stockholm, in duplicate, in the English language, this 8th day of August 2014.

FOR THE GOVERNMENT OF SWEDEN:

FOR THE GOVERNMENT OF THE UNITED STATES OF AMERICA:

Xxxxxx Xxxxxxxx Xxxxxx Xxxxxxxxx

ANNEX I

DUE DILIGENCE OBLIGATIONS FOR IDENTIFYING AND REPORTING ON U.S. REPORTABLE ACCOUNTS AND ON PAYMENTS TO CERTAIN NONPARTICIPATING FINANCIAL INSTITUTIONS

I. General.

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A. Sweden shall require that Reporting Swedish Financial Institutions apply the due diligence procedures contained in this Annex I to identify U.S. Reportable Accounts and accounts held by Nonparticipating Financial Institutions.

B. For purposes of the Agreement,

1. All dollar amounts are in U.S. dollars and shall be read to include the equivalent in other currencies.

2. Except as otherwise provided herein, the balance or value of an account shall be determined as of the last day of the calendar year or other appropriate reporting period.

3. Where a balance or value threshold is to be determined as of June 30, 2014 under this Annex I, the relevant balance or value shall be determined as of that day or the last day of the reporting period ending immediately before June 30, 2014, and where a balance or value threshold is to be determined as of the last day of a calendar year under this Annex I, the relevant balance or value shall be determined as of the last day of the calendar year or other appropriate reporting period.

4. Subject to subparagraph E(1) of section II of this Annex I, an account shall be treated as a U.S. Reportable Account beginning as of the date it is identified as such pursuant to the due diligence procedures in this Annex I.

5. Unless otherwise provided, information with respect to a U.S. Reportable Account shall be reported annually in the calendar year following the year to which the information relates.

C. As an alternative to the procedures described in each section of this Annex I, Sweden may permit Reporting Swedish Financial Institutions to rely on the procedures

SÖ 2015:7 described in relevant U.S. Treasury Regulations to establish whether an account is a U.S. Reportable Account or an account held by a Nonparticipating Financial Institution. Sweden may permit Reporting Swedish Financial Institutions to make such election separately for each section of this Annex I either with respect to all relevant Financial Accounts or, separately, with respect to any clearly identified group of such accounts (such as by line of business or the location of where the account is maintained).

II. Preexisting Individual Accounts. The following rules and procedures apply for purposes of identifying U.S. Reportable Accounts among Preexisting Accounts held by individuals (“Preexisting Individual Accounts”).

A. Accounts Not Required to Be Reviewed, Identified, or Reported. Unless the Reporting Swedish Financial Institution elects otherwise, either with respect to all Preexisting Individual Accounts or, separately, with respect to any clearly identified group of such accounts, where the implementing rules in Sweden provide for such an election, the following Preexisting Individual Accounts are not required to be reviewed, identified, or reported as U.S. Reportable Accounts:

1. Subject to subparagraph E(2) of this section, a Preexisting Individual Account with a balance or value that does not exceed $50,000 as of June 30, 2014.

2. Subject to subparagraph E(2) of this section, a Preexisting Individual Account that is a Cash Value Insurance Contract or an Annuity Contract with a balance or value of $250,000 or less as of June 30, 2014.

3. A Preexisting Individual Account that is a Cash Value Insurance Contract or an Annuity Contract, provided the law or regulations of Sweden or the United States effectively prevent the sale of such a Cash Value Insurance Contract or an Annuity Contract to U.S. residents (e.g., if the relevant Financial Institution does not have the required registration under

U.S. law, and the law of Sweden requires reporting or withholding with respect to insurance products held by residents of Sweden).

4. A Depository Account with a balance of

$50,000 or less.

B. Review Procedures for Preexisting Individual Accounts With a Balance or Value as of June 30, 2014, that Exceeds $50,000 ($250,000 for a Cash Value Insurance Contract or Annuity Contract), But Does Not Exceed $1,000,000 (“Lower Value Accounts”).

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1. Electronic Record Search. The Reporting Swedish Financial Institution must review electronically searchable data maintained by the Reporting Swedish Financial Institution for any of the following U.S. indicia:

a) Identification of the Account Holder as a

U.S. citizen or resident;

b) Unambiguous indication of a U.S. place of birth;

c) Current U.S. mailing or residence address (including a U.S. post office box);

d) Current U.S. telephone number;

e) Standing instructions to transfer funds to an account maintained in the United States;

f) Currently effective power of attorney or signatory authority granted to a person with a

U.S. address; or

g) An “in-care-of” or “hold mail” address that is the sole address the Reporting Swedish Financial Institution has on file for the Account Holder. In the case of a Preexisting Individual Account that is a Lower Value Account, an “in-care-of” address outside the United States or “hold mail” address shall not be treated as U.S. indicia.

2. If none of the U.S. indicia listed in subparagraph B(1) of this section are discovered in the electronic search, then no further action is required until there is a change in circumstances that results in one or more U.S. indicia being associated with the account, or the account becomes a High Value Account described in paragraph D of this section.

3. If any of the U.S. indicia listed in subparagraph B(1) of this section are discovered in the electronic search, or if there is a change in circumstances that results in one or more U.S. indicia

SÖ 2015:7 being associated with the account, then the Reporting Swedish Financial Institution must treat the account as a U.S. Reportable Account unless it elects to apply subparagraph B(4) of this section and one of the exceptions in such subparagraph applies with respect to that account.

4. Notwithstanding a finding of U.S. indicia under subparagraph B(1) of this section, a Reporting Swedish Financial Institution is not required to treat an account as a U.S. Reportable Account if:

a) Where the Account Holder information unambiguously indicates a U.S. place of birth, the Reporting Swedish Financial Institution obtains, or has previously reviewed and maintains a record of:

(1) A self-certification that the Account Holder is neither a U.S. citizen nor a U.S. resident for tax purposes (which may be on an IRS Form W-8 or other similar agreed form);

(2) A non-U.S. passport or

other government-issued identification evidencing the Account Xxxxxx’x citizenship or nationality in a country other than the United States; and

(3) A copy of the Account Holder’s Certificate of Loss of Nationality of the United States or a reasonable explanation of:

(a) The

reason the Account Holder does not have such a certificate despite relinquishing U.S. citizenship; or

(b) The

reason the Account Holder did not obtain U.S. citizenship at birth.

b) Where the Account Holder information contains a current U.S. mailing or residence address, or one or more U.S. telephone

numbers that are the only telephone numbers associated with the account, the Reporting Swedish Financial Institution obtains, or has previously reviewed and maintains a record of:

(1) A self-certification that the Account Holder is neither a U.S. citizen nor a U.S. resident for tax purposes (which may be on an IRS Form W-8 or other similar agreed form); and

(2) Documentary evidence, as defined in paragraph D of section VI of this Xxxxx X, establishing the Account Holder’s non-U.S. status.

c) Where the Account Holder information contains standing instructions to transfer funds to an account maintained in the United States, the Reporting Swedish Financial Institution obtains, or has previously reviewed and maintains a record of:

(1) A self-certification that the Account Holder is neither a U.S. citizen nor a U.S. resident for tax purposes (which may be on an IRS Form W-8 or other similar agreed form); and

(2) Documentary evidence, as defined in paragraph D of section VI of this Xxxxx X, establishing the Account Holder’s non-U.S. status.

d) Where the Account Holder information contains a currently effective power of attorney or signatory authority granted to a person with a U.S. address, has an “in-care- of” address or “hold mail” address that is the sole address identified for the Account Holder, or has one or more U.S. telephone numbers (if a non-U.S. telephone number is also associated with the account), the Reporting Swedish Financial Institution obtains, or has previously reviewed and maintains a record of:

SÖ 2015:7

SÖ 2015:7 (1) A self-certification that

the Account Holder is neither a U.S. citizen nor a U.S. resident for tax purposes (which may be on an IRS Form W-8 or other similar agreed form); or

(2) Documentary evidence, as defined in paragraph D of section VI of this Xxxxx X, establishing the Account Holder’s non-U.S. status.

C. Additional Procedures Applicable to Preexisting Individual Accounts That Are Lower Value Accounts.

1. Review of Preexisting Individual Accounts that are Lower Value Accounts for U.S. indicia must be completed by June 30, 2016.

2. If there is a change of circumstances with respect to a Preexisting Individual Account that is a Lower Value Account that results in one or more U.S. indicia described in subparagraph B(1) of this section being associated with the account, then the Reporting Swedish Financial Institution must treat the account as a U.S. Reportable Account unless subparagraph B(4) of this section applies.

3. Except for Depository Accounts described in subparagraph A(4) of this section, any Preexisting Individual Account that has been identified as a U.S. Reportable Account under this section shall be treated as a U.S. Reportable Account in all subsequent years, unless the Account Holder ceases to be a Specified

U.S. Person.

D. Enhanced Review Procedures for Preexisting Individual Accounts With a Balance or Value That Exceeds $1,000,000 as of June 30, 2014, or December 31 of 2015 or Any Subsequent Year (“High Value Accounts”).

1. Electronic Record Search. The Reporting Swedish Financial Institution must review electronically searchable data maintained by the Reporting Swedish Financial Institution for any of the

U.S. indicia described in subparagraph B(1) of this section.

2. Paper Record Search. If the Reporting Swedish Financial Institution’s electronically searchable databases include fields for, and capture all of the information described in, subparagraph D(3) of this section, then no further paper record search is required. If the electronic databases do not capture all of this information, then with respect to a High Value Account, the Reporting Swedish Financial Institution must also review the current customer master file and, to the extent not contained in the current customer master file, the following documents associated with the account and obtained by the Reporting Swedish Financial Institution within the last five years for any of the U.S. indicia described in subparagraph B(1) of this section:

a) The most recent documentary evidence collected with respect to the account;

b) The most recent account opening contract or documentation;

c) The most recent documentation obtained by the Reporting Swedish Financial Institution pursuant to AML/KYC Procedures or for other regulatory purposes;

d) Any power of attorney or signature authority forms currently in effect; and

e) Any standing instructions to transfer funds currently in effect.

3. Exception Where Databases Contain Sufficient Information. A Reporting Swedish Financial Institution is not required to perform the paper record search described in subparagraph D(2) of this section if the Reporting Swedish Financial Institution’s electronically searchable information includes the following:

a) The Account Holder’s nationality or

residence status;

b) The Account Xxxxxx’x residence address and mailing address currently on file with the Reporting Swedish Financial Institution;

SÖ 2015:7

SÖ 2015:7 c) The Account Xxxxxx’x telephone number(s) currently on file, if any, with the Reporting Swedish Financial Institution;

d) Whether there are standing instructions to transfer funds in the account to another account (including an account at another branch of the Reporting Swedish Financial Institution or another Financial Institution);

e) Whether there is a current “in-care-of” address or “hold mail” address for the Account Holder; and

f) Whether there is any power of attorney or signatory authority for the account.

4. Relationship Manager Inquiry for Actual Knowledge. In addition to the electronic and paper record searches described above, the Reporting Swedish Financial Institution must treat as a U.S. Reportable Account any High Value Account assigned to a relationship manager (including any Financial Accounts aggregated with such High Value Account) if the relationship manager has actual knowledge that the Account Holder is a Specified U.S. Person.

5. Effect of Finding U.S. Indicia.

a) If none of the U.S. indicia listed in subparagraph B(1) of this section are discovered in the enhanced review of High Value Accounts described above, and the account is not identified as held by a Specified

U.S. Person in subparagraph D(4) of this section, then no further action is required until there is a change in circumstances that results in one or more U.S. indicia being associated with the account.

b) If any of the U.S. indicia listed in subparagraph B(1) of this section are discovered in the enhanced review of High Value Accounts described above, or if there is a subsequent change in circumstances that results in one or more U.S. indicia being associated with the account, then the Reporting Swedish Financial Institution must treat the account as a U.S. Reportable Account unless it elects to apply subparagraph B(4) of this section and one of the exceptions in such

subparagraph applies with respect to that account.

c) Except for Depository Accounts described in subparagraph A(4) of this section, any Preexisting Individual Account that has been identified as a U.S. Reportable Account under this section shall be treated as a U.S. Reportable Account in all subsequent years, unless the Account Holder ceases to be a Specified U.S. Person.

E. Additional Procedures Applicable to High Value Accounts.

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1. If a Preexisting Individual Account is a High Value Account as of June 30, 2014, the Reporting Swedish Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by June 30, 2015. If based on this review such account is identified as a U.S. Reportable Account on or before December 31, 2014, the Reporting Swedish Financial Institution must report the required information about such account with respect to 2014 in the first report on the account and on an annual basis thereafter. In the case of an account identified as a U.S. Reportable Account after December 31, 2014 and on or before June 30, 2015, the Reporting Swedish Financial Institution is not required to report information about such account with respect to 2014, but must report information about the account on an annual basis thereafter.

2. If a Preexisting Individual Account is not a High Value Account as of June 30, 2014, but becomes a High Value Account as of the last day of 2015 or any subsequent calendar year, the Reporting Swedish Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account within six months after the last day of the calendar year in which the account becomes a High Value Account. If based on this review such account is identified as a U.S. Reportable Account, the Reporting Swedish Financial Institution must report the required information about such account with respect to the year in which it is identified as a U.S. Reportable Account and subsequent years on an annual basis, unless the Account Holder ceases to be a Specified U.S. Person.

SÖ 2015:7 3. Once a Reporting Swedish Financial Institution applies the enhanced review procedures described in paragraph D of this section to a High Value Account, the Reporting Swedish Financial Institution is not required to re-apply such procedures, other than the relationship manager inquiry described in subparagraph D(4) of this section, to the same High Value Account in any subsequent year.

4. If there is a change of circumstances with respect to a High Value Account that results in one or more U.S. indicia described in subparagraph B(1) of this section being associated with the account, then the Reporting Swedish Financial Institution must treat the account as a U.S. Reportable Account unless it elects to apply subparagraph B(4) of this section and one of the exceptions in such subparagraph applies with respect to that account.

5. A Reporting Swedish Financial Institution must implement procedures to ensure that a relationship manager identifies any change in circumstances of an account. For example, if a relationship manager is notified that the Account Holder has a new mailing address in the United States, the Reporting Swedish Financial Institution is required to treat the new address as a change in circumstances and, if it elects to apply subparagraph B(4) of this section, is required to obtain the appropriate documentation from the Account Holder.

F. Preexisting Individual Accounts That Have Been Documented for Certain Other Purposes. A Reporting Swedish Financial Institution that has previously obtained documentation from an Account Holder to establish the Account Holder’s status as neither a U.S. citizen nor a U.S. resident in order to meet its obligations under a qualified intermediary, withholding foreign partnership, or withholding foreign trust agreement with the IRS, or to fulfill its obligations under chapter 61 of Title 26 of the United States Code, is not required to perform the procedures described in subparagraph B(1) of this section with respect to Lower Value Accounts or subparagraphs D(1) through D(3) of this section with respect to High Value Accounts.

III. New Individual Accounts. The following rules and procedures apply for purposes of identifying U.S. Reportable Accounts among Financial Accounts held by individuals and opened on or after July 1, 2014 (“New Individual Accounts”).

A. Accounts Not Required to Be Reviewed, Identified, or Reported. Unless the Reporting Swedish Financial Institution elects otherwise, either with respect to all New Individual Accounts or, separately, with respect to any clearly identified group of such accounts, where the implementing rules in Sweden provide for such an election, the following New Individual Accounts are not required to be reviewed, identified, or reported as U.S. Reportable Accounts:

1. A Depository Account unless the account balance exceeds $50,000 at the end of any calendar year or other appropriate reporting period.

2. A Cash Value Insurance Contract unless the Cash Value exceeds $50,000 at the end of any calendar year or other appropriate reporting period.

B. Other New Individual Accounts. With respect to New Individual Accounts not described in paragraph A of this section, upon account opening (or within 90 days after the end of the calendar year in which the account ceases to be described in paragraph A of this section), the Reporting Swedish Financial Institution must obtain a self-certification, which may be part of the account opening documentation, that allows the Reporting Swedish Financial Institution to determine whether the Account Holder is resident in the United States for tax purposes (for this purpose, a U.S. citizen is considered to be resident in the United States for tax purposes, even if the Account Holder is also a tax resident of another jurisdiction) and confirm the reasonableness of such self-certification based on the information obtained by the Reporting Swedish Financial Institution in connection with the opening of the account, including any documentation collected pursuant to AML/KYC Procedures.

1. If the self-certification establishes that the Account Holder is resident in the United States for tax purposes, the Reporting Swedish Financial Institution must treat the account as a U.S. Reportable Account and obtain a self-certification that includes the Account Holder’s U.S. TIN (which may be an IRS Form W-9 or other similar agreed form).

2. If there is a change of circumstances with respect to a New Individual Account that causes the Reporting Swedish Financial Institution to know, or have reason to know, that the original self-certification is incorrect or unreliable, the Reporting Swedish Financial Institution cannot rely on the original self- certification and must obtain a valid self-certification that establishes whether the Account Holder is a U.S. citizen or resident for U.S. tax purposes. If the Reporting Swedish Financial Institution is unable to

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SÖ 2015:7 obtain a valid self-certification, the Reporting Swedish Financial Institution must treat the account as a U.S. Reportable Account.

IV. Preexisting Entity Accounts. The following rules and procedures apply for purposes of identifying U.S. Reportable Accounts and accounts held by Nonparticipating Financial Institutions among Preexisting Accounts held by Entities (“Preexisting Entity Accounts”).

A. Entity Accounts Not Required to Be Reviewed, Identified or Reported. Unless the Reporting Swedish Financial Institution elects otherwise, either with respect to all Preexisting Entity Accounts or, separately, with respect to any clearly identified group of such accounts, where the implementing rules in Sweden provide for such an election, a Preexisting Entity Account with an account balance or value that does not exceed $250,000 as of June 30, 2014, is not required to be reviewed, identified, or reported as a U.S. Reportable Account until the account balance or value exceeds

$1,000,000.

B. Entity Accounts Subject to Review. A Preexisting Entity Account that has an account balance or value that exceeds $250,000 as of June 30, 2014, and a Preexisting Entity Account that does not exceed $250,000 as of June 30, 2014 but the account balance or value of which exceeds

$1,000,000 as of the last day of 2015 or any subsequent calendar year, must be reviewed in accordance with the procedures set forth in paragraph D of this section.

C. Entity Accounts With Respect to Which Reporting Is Required. With respect to Preexisting Entity Accounts described in paragraph B of this section, only accounts that are held by one or more Entities that are Specified

U.S. Persons, or by Passive NFFEs with one or more Controlling Persons who are U.S. citizens or residents, shall be treated as U.S. Reportable Accounts. In addition, accounts held by Nonparticipating Financial Institutions shall be treated as accounts for which aggregate payments as described in subparagraph 1(b) of Article 4 of the Agreement are reported to the Swedish Competent Authority.

D. Review Procedures for Identifying Entity Accounts With Respect to Which Reporting Is Required. For Preexisting Entity Accounts described in paragraph B of this section, the Reporting Swedish Financial Institution must apply the following review procedures to determine whether the account is held by one or more Specified U.S. Persons, by Passive NFFEs with one or more Controlling Persons who are

U.S. citizens or residents, or by Nonparticipating Financial Institutions:

1. Determine Whether the Entity Is a Specified U.S. Person.

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a) Review information maintained for regulatory or customer relationship purposes (including information collected pursuant to AML/KYC Procedures) to determine whether the information indicates that the Account Holder is a U.S. Person. For this purpose, information indicating that the Account Holder is a U.S. Person includes a U.S. place of incorporation or organization, or a U.S. address.

b) If the information indicates that the Account Holder is a U.S. Person, the Reporting Swedish Financial Institution must treat the account as a U.S. Reportable Account unless it obtains a self-certification from the Account Holder (which may be on an IRS Form W-8 or W-9, or a similar agreed form), or reasonably determines based on information in its possession or that is publicly available, that the Account Holder is not a Specified U.S. Person.

2. Determine Whether a Non-U.S. Entity Is a Financial Institution.

a) Review information maintained for regulatory or customer relationship purposes (including information collected pursuant to AML/KYC Procedures) to determine whether the information indicates that the Account Holder is a Financial Institution.

b) If the information indicates that the Account Holder is a Financial Institution, or the Reporting Swedish Financial Institution verifies the Account Holder’s Global Intermediary Identification Number on the published IRS FFI list, then the account is not a U.S. Reportable Account.

3. Determine   Whether   a   Financial Institution Is a Nonparticipating Financial Institution Payments to Which Are Subject to

SÖ 2015:7 Aggregate Reporting Under Subparagraph 1(b) of Article 4 of the Agreement.

a) Subject to subparagraph D(3)(b) of this section, a Reporting Swedish Financial Institution may determine that the Account Holder is a Swedish Financial Institution or other Partner Jurisdiction Financial Institution if the Reporting Swedish Financial Institution reasonably determines that the Account Holder has such status on the basis of the Account Holder’s Global Intermediary Identification Number on the published IRS FFI list or other information that is publicly available or in the possession of the Reporting Swedish Financial Institution, as applicable. In such case, no further review, identification, or reporting is required with respect to the account.

b) If the Account Holder is a Swedish Financial Institution or other Partner Jurisdiction Financial Institution treated by the IRS as a Nonparticipating Financial Institution, then the account is not a U.S. Reportable Account, but payments to the Account Holder must be reported as contemplated in subparagraph 1(b) of Article 4 of the Agreement.

c) If the Account Holder is not a Swedish Financial Institution or other Partner Jurisdiction Financial Institution, then the Reporting Swedish Financial Institution must treat the Account Holder as a Nonparticipating Financial Institution payments to which are reportable under subparagraph 1(b) of Article 4 of the Agreement, unless the Reporting Swedish Financial Institution:

(1) Obtains a self- certification (which may be on an IRS Form W-8 or similar agreed form) from the Account Holder that it is a certified deemed-compliant FFI, or an exempt beneficial owner, as those terms are defined in relevant

U.S. Treasury Regulations; or

(2) In the case of a participating FFI or registered deemed-compliant FFI, verifies the Account Holder’s Global Intermediary Identification Number on the published IRS FFI list.

4. Determine Whether an Account Held by an NFFE Is a U.S. Reportable Account. With respect to an Account Holder of a Preexisting Entity Account that is not identified as either a U.S. Person or a Financial Institution, the Reporting Swedish Financial Institution must identify (i) whether the Account Holder has Controlling Persons, (ii) whether the Account Holder is a Passive NFFE, and (iii) whether any of the Controlling Persons of the Account Holder is a U.S. citizen or resident. In making these determinations the Reporting Swedish Financial Institution must follow the guidance in subparagraphs D(4)(a) through D(4)(d) of this section in the order most appropriate under the circumstances.

a) For purposes of determining the Controlling Persons of an Account Holder, a Reporting Swedish Financial Institution may rely on information collected and maintained pursuant to AML/KYC Procedures.

b) For purposes of determining whether the Account Holder is a Passive NFFE, the Reporting Swedish Financial Institution must obtain a self-certification (which may be on an IRS Form W-8 or W-9, or on a similar agreed form) from the Account Holder to establish its status, unless it has information in its possession or that is publicly available, based on which it can reasonably determine that the Account Holder is an Active NFFE.

c) For purposes of determining whether a Controlling Person of a Passive NFFE is a

U.S. citizen or resident for tax purposes, a Reporting Swedish Financial Institution may rely on:

(1) Information collected and maintained pursuant to AML/KYC Procedures in the case of a Preexisting Entity Account held by one or more NFFEs with an account

SÖ 2015:7

SÖ 2015:7 balance or value that does not exceed

$1,000,000; or

(2) A self-certification (which may be on an IRS Form W-8 or W-9, or on a similar agreed form) from the Account Holder or such Controlling Person in the case of a Preexisting Entity Account held by one or more NFFEs with an account balance or value that exceeds

$1,000,000.

d) If any Controlling Person of a Passive NFFE is a U.S. citizen or resident, the account shall be treated as a U.S. Reportable Account.

E. Timing of Review and Additional Procedures Applicable to Preexisting Entity Accounts.

1. Review of Preexisting Entity Accounts with an account balance or value that exceeds $250,000 as of June 30, 2014 must be completed by June 30, 2016.

2. Review of Preexisting Entity Accounts with an account balance or value that does not exceed

$250,000 as of June 30, 2014, but exceeds $1,000,000 as of December 31 of 2015 or any subsequent year, must be completed within six months after the last day of the calendar year in which the account balance or value exceeds $1,000,000.

3. If there is a change of circumstances with respect to a Preexisting Entity Account that causes the Reporting Swedish Financial Institution to know, or have reason to know, that the self-certification or other documentation associated with an account is incorrect or unreliable, the Reporting Swedish Financial Institution must redetermine the status of the account in accordance with the procedures set forth in paragraph D of this section.

V. New Entity Accounts. The following rules and procedures apply for purposes of identifying U.S. Reportable Accounts and accounts held by Nonparticipating Financial Institutions among Financial Accounts held by Entities and opened on or after July 1, 2014 (“New Entity Accounts”).

A. Entity Accounts Not Required to Be Reviewed, Identified or Reported. Unless the Reporting Swedish Financial Institution elects otherwise, either with

respect to all New Entity Accounts or, separately, with respect to any clearly identified group of such accounts, where the implementing rules in Sweden provide for such election, a credit card account or a revolving credit facility treated as a New Entity Account is not required to be reviewed, identified, or reported, provided that the Reporting Swedish Financial Institution maintaining such account implements policies and procedures to prevent an account balance owed to the Account Holder that exceeds $50,000.

B. Other New Entity Accounts. With respect to New Entity Accounts not described in paragraph A of this section, the Reporting Swedish Financial Institution must determine whether the Account Holder is: (i) a Specified U.S. Person; (ii) a Swedish Financial Institution or other Partner Jurisdiction Financial Institution; (iii) a participating FFI, a deemed-compliant FFI, or an exempt beneficial owner, as those terms are defined in relevant U.S. Treasury Regulations; or (iv) an Active NFFE or Passive NFFE.

1. Subject to subparagraph B(2) of this section, a Reporting Swedish Financial Institution may determine that the Account Holder is an Active NFFE, a Swedish Financial Institution, or other Partner Jurisdiction Financial Institution if the Reporting Swedish Financial Institution reasonably determines that the Account Holder has such status on the basis of the Account Holder’s Global Intermediary Identification Number or other information that is publicly available or in the possession of the Reporting Swedish Financial Institution, as applicable.

2. If the Account Holder is a Swedish Financial Institution or other Partner Jurisdiction Financial Institution treated by the IRS as a Nonparticipating Financial Institution, then the account is not a U.S. Reportable Account, but payments to the Account Holder must be reported as contemplated in subparagraph 1(b) of Article 4 of the Agreement.

3. In all other cases, a Reporting Swedish Financial Institution must obtain a self-certification from the Account Holder to establish the Account Holder’s status. Based on the self-certification, the following rules apply:

a) If the Account Holder is a Specified

U.S. Person, the Reporting Swedish Financial Institution must treat the account as a U.S. Reportable Account.

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SÖ 2015:7 b) If the Account Holder is a Passive NFFE, the Reporting Swedish 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 Swedish Financial Institution must treat the account as a U.S. Reportable Account.

c) If the Account Holder is: (i) a U.S. Person that is not a Specified U.S. Person; (ii) subject to subparagraph B(3)(d) of this section, a Swedish Financial Institution or other Partner Jurisdiction Financial Institution; (iii) a participating FFI, a deemed- compliant FFI, or an exempt beneficial owner, as those terms are defined in relevant U.S. Treasury Regulations; (iv) an Active NFFE; or (v) a Passive NFFE none of the Controlling Persons of which is a U.S. citizen or resident, then the account is not a U.S. Reportable Account, and no reporting is required with respect to the account.

d) If the Account Holder is a Nonparticipating Financial Institution (including a Swedish Financial Institution or other Partner Jurisdiction Financial Institution treated by the IRS as a Nonparticipating Financial Institution), then the account is not a

U.S. Reportable Account, but payments to the Account Holder must be reported as contemplated in subparagraph 1(b) of Article 4 of the Agreement.

VI. Special Rules and Definitions. The following additional rules and definitions apply in implementing the due diligence procedures described above:

A. Reliance on Self-Certifications and Documentary Evidence. A Reporting Swedish Financial Institution may not rely on a self-certification or documentary evidence if the Reporting Swedish Financial Institution knows or has reason to know that the self-certification or documentary evidence is incorrect or unreliable.

B. Definitions. The following definitions apply for purposes of this Annex I.

1. AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting Swedish Financial Institution pursuant to the anti-money laundering or similar requirements of Sweden to which such Reporting Swedish Financial Institution is subject.

2. NFFE. An “NFFE” means any Non-U.S. Entity that is not an FFI as defined in relevant U.S. Treasury Regulations or is an Entity described in subparagraph B(4)(j) of this section, and also includes any Non-U.S. Entity that is established in Sweden or another Partner Jurisdiction and that is not a Financial Institution.

3. Passive NFFE. A “Passive NFFE” means any NFFE that is not

(i) an Active NFFE, or (ii) a withholding foreign partnership or withholding foreign trust pursuant to relevant U.S. Treasury Regulations.

4. Active NFFE. An “Active NFFE” means any NFFE that meets

any of the following criteria:

a) Less than 50 percent of the NFFE’s gross income for the preceding calendar year or other appropriate reporting period is passive income and less than 50 percent of the assets held by the NFFE during the preceding calendar year or other appropriate reporting period are assets that produce or are held for the production of passive income;

b) The stock of the NFFE is regularly traded on an established securities market or the NFFE is a Related Entity of an Entity the stock of which is regularly traded on an established securities market;

c) The NFFE is organized in a U.S. Territory and all of the owners of the payee are bona fide residents of that

U.S. Territory;

d) The NFFE is a government (other than the U.S. government), a political subdivision of such government (which, for the avoidance of doubt, includes a state, province, county, or municipality), or a public body performing a function of such government or a political subdivision thereof, a government of a U.S. Territory, an international organization, a non-U.S. central bank of issue, or an Entity wholly owned by one or more of the foregoing;

e) Substantially all of the activities of the NFFE consist of holding (in whole or in part) the outstanding stock of, or providing financing and services to, one or more

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SÖ 2015:7 subsidiaries that engage in trades or businesses other than the business of a Financial Institution, except that an entity shall not qualify for NFFE status if the entity functions (or holds itself out) as an investment fund, such as a private equity fund, venture capital fund, leveraged buyout fund, or any investment vehicle whose purpose is to acquire or fund companies and then hold interests in those companies as capital assets for investment purposes;

f) The NFFE is not yet operating a business and has no prior operating history, but is investing capital into assets with the intent to operate a business other than that of a Financial Institution, provided that the NFFE shall not qualify for this exception after the date that is 24 months after the date of the initial organization of the NFFE;

g) The NFFE was not a Financial Institution in the past five years, and is in the process of liquidating its assets or is reorganizing with the intent to continue or recommence operations in a business other than that of a Financial Institution;

h) The NFFE primarily engages in financing and hedging transactions with, or for, Related Entities that are not Financial Institutions, and does not provide financing or hedging services to any Entity that is not a Related Entity, provided that the group of any such Related Entities is primarily engaged in a business other than that of a Financial Institution;

i) The NFFE is an “excepted NFFE” as described in

relevant U.S. Treasury Regulations; or

j) The NFFE meets all of the following requirements:

i. It is established and operated in its jurisdiction of residence exclusively for religious, charitable, scientific, artistic, cultural, athletic, or educational purposes; or it is established and operated in its jurisdiction of residence and it is a professional organization, business league, chamber of commerce, labor organization, agricultural or horticultural organization, civic league or an organization operated exclusively for the promotion of social welfare;

ii. It is exempt from income tax in its jurisdiction of residence;

iii. It has no shareholders or members who have a proprietary or beneficial interest in its income or assets;

iv. The applicable laws of the NFFE’s jurisdiction of residence or the NFFE’s formation documents do not permit any income or assets of the NFFE to be distributed

to, or applied for the benefit of, a private person or non-charitable Entity other than pursuant to the conduct of the NFFE’s charitable activities, or as payment of reasonable compensation for services rendered, or as payment representing the fair market value of property which the NFFE has purchased; and

v. The applicable laws of the NFFE’s jurisdiction of residence or the NFFE’s formation documents require that, upon the NFFE’s liquidation or dissolution, all of its assets be distributed to a governmental entity or other non-profit organization, or escheat to the government of the NFFE’s jurisdiction of residence or any political subdivision thereof.

5. Preexisting Account. A “Preexisting Account” means a Financial Account maintained by a Reporting Financial Institution as of June 30, 2014.

C. Account Balance Aggregation and Currency Translation Rules.

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1. Aggregation of Individual Accounts. For purposes of determining the aggregate balance or value of Financial Accounts held by an individual, a Reporting Swedish Financial Institution is required to aggregate all Financial Accounts maintained by the Reporting Swedish Financial Institution, or by a Related Entity, but only to the extent that the Reporting Swedish Financial Institution’s computerized systems link the Financial Accounts by reference to a data element such as client number or taxpayer identification number, and allow account balances or values to be aggregated. Each holder of a jointly held Financial Account shall be attributed the entire balance or value of the jointly held Financial Account for purposes of applying the aggregation requirements described in this paragraph 1.

2. Aggregation of Entity Accounts. For purposes of determining the aggregate balance or value of Financial Accounts held by an Entity, a Reporting Swedish Financial Institution is required to take into account all Financial Accounts that are maintained by the Reporting Swedish Financial Institution, or by a Related Entity, but only to the extent that the Reporting Swedish Financial Institution’s computerized systems link the Financial Accounts by reference to a data element such as client number or taxpayer

SÖ 2015:7 identification number, and allow account balances or values to be aggregated.

3. Special Aggregation Rule Applicable to Relationship Managers. For purposes of determining the aggregate balance or value of Financial Accounts held by a person to determine whether a Financial Account is a High Value Account, a Reporting Swedish Financial Institution is also required, in the case of any Financial Accounts that a relationship manager knows, or has reason to know, are directly or indirectly owned, controlled, or established (other than in a fiduciary capacity) by the same person, to aggregate all such accounts.

4. Currency Translation Rule. For purposes of determining the balance or value of Financial Accounts denominated in a currency other than the

U.S. dollar, a Reporting Swedish Financial Institution must convert the U.S. dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Swedish Financial Institution is determining the balance or value.

D. Documentary Evidence. For purposes of this Xxxxx X, acceptable documentary evidence includes any of the following:

1. A certificate of residence issued by an authorized government body (for example, a government or agency thereof, or a municipality) of the jurisdiction in which the payee claims to be a resident.

2. With respect to an individual, any valid identification issued by an authorized government body (for example, a government or agency thereof, or a municipality), that includes the individual’s name and is typically used for identification purposes.

3. With respect to an Entity, any official documentation issued by an authorized government body (for example, a government or agency thereof, or a municipality) that includes the name of the Entity and either the address of its principal office in the jurisdiction (or U.S. Territory) in which it claims to be a resident or the jurisdiction (or U.S. Territory) in which the Entity was incorporated or organized.

4. With respect to a Financial Account maintained in a jurisdiction with anti-money laundering rules that have been approved by the IRS in connection with a QI agreement (as described in relevant U.S. Treasury Regulations), any of the documents, other than a Form W-8 or W-9, referenced in the jurisdiction’s attachment to the QI agreement for identifying individuals or Entities.

5. Any financial statement, third-party credit report, bankruptcy filing, or U.S. Securities and Exchange Commission report.

E. Alternative Procedures for Financial Accounts Held by Individual Beneficiaries of a Cash Value Insurance Contract. A Reporting Swedish Financial Institution may presume that an individual beneficiary (other than the owner) of a Cash Value Insurance Contract receiving a death benefit is not a Specified U.S. Person and may treat such Financial Account as other than a U.S. Reportable Account unless the Reporting Swedish Financial Institution has actual knowledge, or reason to know, that the beneficiary is a Specified U.S. Person. A Reporting Swedish Financial Institution has reason to know that a beneficiary of a Cash Value Insurance Contract is a Specified U.S. Person if the information collected by the Reporting Swedish Financial Institution and associated with the beneficiary contains U.S. indicia as described in subparagraph B(1) of section II of this Annex I. If a Reporting Swedish Financial Institution has actual knowledge, or reason to know, that the beneficiary is a Specified U.S. Person, the Reporting Swedish Financial Institution must follow the procedures in subparagraph B(3) of section II of this Annex I.

F. Reliance on Third Parties. Regardless of whether an election is made under paragraph C of section I of this Annex I, Sweden may permit Reporting Swedish Financial Institutions to rely on due diligence procedures performed by third parties, to the extent provided in relevant U.S. Treasury Regulations.

G. Alternative Procedures for New Accounts Opened Prior to Entry Into Force of this Agreement.

SÖ 2015:7

1. Applicability. If Sweden has provided a written notice to the United States prior to entry into force of this Agreement that, as of July 1, 2014, Sweden lacked the legal authority to require Swedish Financial Institutions either: (i) to require Account Holders of New Individual Accounts to

SÖ 2015:7 provide the self-certification specified in section III of this Annex, or (ii) to perform all the due diligence actions related to New Entity Accounts specified in section V of this Annex, then the Reporting Swedish Financial Institutions may apply the alternative procedures described in subparagraph G(2) of this section, as applicable, to such New Accounts, in lieu of the procedures otherwise required under this Annex. The alternative procedures described in subparagraph G(2) of this section shall be available only for those New Accounts opened prior to the earlier of (i) the date Sweden has the ability to compel Reporting Swedish Financial Institutions to comply with the due diligence requirements described in section III and section V of this Annex, as applicable, which date Sweden shall inform the United States of in writing by the date of entry into force of this Agreement, or (ii) the date of entry into force of this Agreement. For all other New Accounts, a Reporting Swedish Financial Institution must apply the due diligence procedures described in section III or section V of this Annex, as applicable, to determine if the account is a U.S. Reportable Account or an account held by a Nonparticipating FFI.

2. Alternative Procedures.

a) By the date that is one year after the date of entry into force of this Agreement, Reporting Swedish Financial Institutions must (i) with respect to a New Individual Account described in subparagraph G(1) of this section, request the self- certification specified in section III of this Annex and, if provided, confirm the reasonableness of such self-certification consistent with the procedures described in section III of this Annex, and (ii) with respect to a New Entity Account described in subparagraph G(1) of this section, perform the due diligence specified in section V of this Annex and request information as necessary to document the account, including any self- certification, required by section V of this Annex.

b) Sweden must report on any New Account that is identified pursuant to subparagraph G(2)(a) of this section as a U.S. Reportable Account or as an account held by a Nonparticipating FFI, by the date that is the later of (i) September 30 next following the date that the account is identified as a U.S. Reportable Account or as an account held by a Nonparticipating FFI or (ii) 90 days after the account is identified as a U.S. Reportable Account or as an account held by a Nonparticipating FFI. The information required to be reported with respect to such a New Account is any information that would have been reportable under this Agreement if the New Account had been identified as a U.S. Reportable Account or as an account held by a Nonparticipating FFI as of the date the account was opened.

c) By the date that is one year after the date of entry into force of this Agreement, Reporting Swedish Financial Institutions must close any New Account described in subparagraph G(1) of this section for which it was unable to collect the required self- certification or other documentation pursuant to the procedures described in subparagraph G(2)(a) of this section. In addition, by the date that is one year after the date of entry into force of this Agreement, the Reporting Swedish Financial Institution must (i) with respect to such closed accounts that prior to such closure were New Individual Accounts (without regard to whether such accounts were High Value Accounts), perform the due diligence procedures specified in paragraph D of section II of this Annex or (ii) with respect to such closed accounts that prior to such closure were New Entity Accounts, perform the due diligence procedures specified in section IV of this Annex.

d) Sweden must report on any closed account that is identified pursuant to subparagraph G(2)(c) of this section as a U.S. Reportable Account or as an account held by a Nonparticipating FFI, by the date that is the later of (i) September 30 next following the date that the account is identified as a U.S. Reportable Account or as an account held by a Nonparticipating FFI or (ii) 90 days after the account is identified as a U.S. Reportable Account or as an account held by a Nonparticipating FFI. The information required to be reported for such a closed account is any information that

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SÖ 2015:7 would have been reportable under this Agreement if the account had been identified as a U.S. Reportable Account or as an account held by a Nonparticipating FFI as of the date the account was opened.

Xxxxx XX

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The following Entities shall be treated as exempt beneficial owners or deemed-compliant FFIs, as the case may be, and the following accounts are excluded from the definition of Financial Accounts.

This Xxxxx XX may be modified by a mutual written decision entered into between the Competent Authorities of Sweden and the United States: (1) to include additional Entities and accounts that present a low risk of being used by U.S. Persons to evade U.S. tax and that have similar characteristics to the Entities and accounts described in this Xxxxx XX as of the date of signature of the Agreement; or (2) to remove Entities and accounts that, due to changes in circumstances, no longer present a low risk of being used by U.S. Persons to evade U.S. tax. Any such addition or removal shall be effective on the date of signature of the mutual decision, unless otherwise provided therein. Procedures for reaching such a mutual decision may be included in the mutual agreement or arrangement described in paragraph 6 of Article 3 of the Agreement.

I. Exempt Beneficial Owners other than Funds. The following Entities shall be treated as Non-Reporting Swedish Financial Institutions and as exempt beneficial owners for purposes of sections 1471 and 1472 of the U.S. Internal Revenue Code, other than with respect to a payment that is derived from an obligation held in connection with a commercial financial activity of a type engaged in by a Specified Insurance Company, Custodial Institution, or Depository Institution.

A. Governmental Entity. The government of Sweden, any political subdivision of Sweden (which, for the avoidance of doubt, includes a county or municipality), or any wholly owned agency or instrumentality of Sweden or any one or more of the foregoing (each, a “Swedish Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of Sweden.

1. An integral part of Sweden means any person, organization, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of Sweden. The net earnings of the governing authority must be credited to its own account or to other accounts of Sweden, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity.

2. A controlled entity means an Entity that is separate in form from Sweden or that otherwise constitutes a separate juridical entity, provided that:

SÖ 2015:7 a) The Entity is wholly owned and controlled by one or more Swedish Governmental Entities directly or through one or more controlled entities;

b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Swedish Governmental Entities, with no portion of its income inuring to the benefit of any private person; and

c) The Entity’s assets vest in one or more Swedish

Governmental Entities upon dissolution.

3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

B. International Organization. Any international organization or wholly owned agency or instrumentality thereof. This category includes any intergovernmental organization (including a supranational organization) (1) that is comprised primarily of non-U.S. governments; (2) that has in effect a headquarters agreement with Sweden; and (3) the income of which does not inure to the benefit of private persons.

C. Central Bank. An institution that is by law or government sanction the principal authority, other than the government of Sweden itself, issuing instruments intended to circulate as currency. Such an institution may include an instrumentality that is separate from the government of Sweden, whether or not owned in whole or in part by Sweden.

II. Funds that Qualify as Exempt Beneficial Owners. The following Entities shall be treated as Non-Reporting Swedish Financial Institutions and as exempt beneficial owners for purposes of sections 1471 and 1472 of the U.S. Internal Revenue Code.

A. Treaty-Qualified Retirement Fund. A fund established in Sweden, provided that the fund is entitled to benefits under an income tax treaty between Sweden and the United States on income that it derives from sources within the United States (or would be entitled to such benefits if it derived any such

income) as a resident of Sweden that satisfies any applicable limitation on benefits requirement, and is operated principally to administer or provide pension or retirement benefits.

B. Broad Participation Retirement Fund. A fund established in Sweden to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund:

1. Does not have a single beneficiary with a right to more than

five percent of the fund’s assets;

2. Is subject to government regulation and provides information reporting about its beneficiaries to the relevant tax authorities in Sweden; and

3. Satisfies at least one of the following requirements:

a) The fund is generally exempt from tax in Sweden on investment income under the laws of Sweden due to its status as a retirement or pension plan;

b) The fund receives at least 50 percent of its total contributions (other than transfers of assets from other plans described in paragraphs A through D of this section or from retirement and pension accounts described in subparagraph A(1) of section V of this Xxxxx XX) from the sponsoring employers;

c) Distributions or withdrawals from the fund are allowed only upon the occurrence of specified events related to retirement, disability, or death (except rollover distributions to other retirement funds described in paragraphs A through D of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II), or penalties apply to distributions or withdrawals made before such specified events; or

d) Contributions (other than certain permitted make-up contributions) by employees to the fund are limited by reference to earned income of the employee or may not exceed $50,000 annually, applying the rules set forth in Annex I for account aggregation and currency translation.

C. Narrow Participation Retirement Fund. A fund established in Sweden to provide retirement, disability, or death benefits to beneficiaries that are current or former employees (or persons

SÖ 2015:7

SÖ 2015:7 designated by such employees) of one or more employers in consideration for services rendered, provided that:

1. The fund has fewer than 50 participants;

2. The fund is sponsored by one or more employers that are not Investment Entities or Passive NFFEs;

3. The employee and employer contributions to the fund (other than transfers of assets from treaty-qualified retirement funds described in paragraph A of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II) are limited by reference to earned income and compensation of the employee, respectively;

4. Participants that are not residents of Sweden are not entitled

to more than 20 percent of the fund’s assets; and

5. The fund is subject to government regulation and provides information reporting about its beneficiaries to the relevant tax authorities in Sweden.

D. A Certain other Swedish Pension Fund. A Pension Fund founded in accordance with the Swedish Safeguarding of Pension Commitments, etc. Act (1967:531) [lagen 1967:531) om tryggande av pensionsutfästelse m.m.] and exempted from income tax according to Chapter 7 of the Swedish Income Tax Code (1999:1229).

E. Pension Fund of an Exempt Beneficial Owner. A fund established in Sweden by an exempt beneficial owner to provide retirement, disability, or death benefits to beneficiaries or participants that are current or former employees of the exempt beneficial owner (or persons designated by such employees), or that are not current or former employees, if the benefits provided to such beneficiaries or participants are in consideration of personal services performed for the exempt beneficial owner.

F. Investment Entity Wholly Owned by Exempt Beneficial Owners. An Entity that is a Swedish Financial Institution solely because it is an Investment Entity, provided that each direct holder of an Equity Interest in the Entity is an exempt beneficial owner, and each direct holder of a debt interest in such Entity is either a Depository Institution (with respect to a loan made to such Entity) or an exempt beneficial owner.

III. Small or Limited Scope Financial Institutions that Qualify as Deemed-Compliant FFIs. The following Financial Institutions are

Non-Reporting Swedish Financial Institutions that shall be treated as deemed-compliant FFIs for purposes of section 1471 of the U.S. Internal Revenue Code.

A. Financial Institution with a Local Client Base. A Financial Institution satisfying the following requirements:

1. The Financial Institution must be licensed and regulated as a financial institution under the laws of Sweden;

2. The Financial Institution must have no fixed place of business outside of Sweden. For this purpose, a fixed place of business does not include a location that is not advertised to the public and from which the Financial Institution performs solely administrative support functions;

3. The Financial Institution must not solicit customers or Account Holders outside Sweden. For this purpose, a Financial Institution shall not be considered to have solicited customers or Account Holders outside Sweden merely because the Financial Institution (a) operates a website, provided that the website does not specifically indicate that the Financial Institution provides Financial Accounts or services to nonresidents of Sweden, and does not otherwise target or solicit U.S. customers or Account Holders, or (b) advertises in print media or on a radio or television station that is distributed or aired primarily within Sweden but is also incidentally distributed or aired in other countries, provided that the advertisement does not specifically indicate that the Financial Institution provides Financial Accounts or services to residents outside Sweden, and does not otherwise target or solicit U.S. customers or Account Holders;

4. The Financial Institution must be required under the laws of Sweden to identify resident Account Holders for purposes of either information reporting or withholding of tax with respect to Financial Accounts held by residents or for purposes of satisfying Swedish AML due diligence requirements;

5. At least 98 percent of the Financial Accounts by value maintained by the Financial Institution must be held by residents (including residents that are Entities) of Sweden or a Member State of the European Union;

6. Beginning on or before July 1, 2014, the Financial Institution must have policies and procedures, consistent with those set forth in Annex I, to prevent the Financial Institution from providing a Financial Account to any Nonparticipating Financial Institution and to monitor

SÖ 2015:7

SÖ 2015:7 whether the Financial Institution opens or maintains a Financial Account for any Specified U.S. Person who is not a resident of Sweden (including a U.S. Person that was a resident of Sweden when the Financial Account was opened but subsequently ceases to be a resident of Sweden) or any Passive NFFE with Controlling Persons who are

U.S. residents or U.S. citizens who are not residents of Sweden;

7. Such policies and procedures must provide that if any Financial Account held by a Specified U.S. Person who is not a resident of Sweden or by a Passive NFFE with Controlling Persons who are U.S. residents or U.S. citizens who are not residents of Sweden is identified, the Financial Institution must report such Financial Account as would be required if the Financial Institution were a Reporting Swedish Financial Institution (including by following the applicable registration requirements on the IRS FATCA registration website) or close such Financial Account;

8. With respect to a Preexisting Account held by an individual who is not a resident of Sweden or by an Entity, the Financial Institution must review those Preexisting Accounts in accordance with the procedures set forth in Annex I applicable to Preexisting Accounts to identify any

U.S. Reportable Account or Financial Account held by a Nonparticipating Financial Institution, and must report such Financial Account as would be required if the Financial Institution were a Reporting Swedish Financial Institution (including by following the applicable registration requirements on the IRS FATCA registration website) or close such Financial Account;

9. Each Related Entity of the Financial Institution that is a Financial Institution must be incorporated or organized in Sweden and, with the exception of any Related Entity that is a retirement fund described in paragraphs A through D of section II of this Xxxxx XX, satisfy the requirements set forth in this paragraph A; and

10. The Financial Institution must not have policies or practices that discriminate against opening or maintaining Financial Accounts for individuals who are Specified U.S. Persons and residents of Sweden.

B. Local Bank. A Financial Institution satisfying the following requirements:

1. The Financial Institution operates solely as (and is licensed and regulated under the laws of Sweden as) (a) a bank or

(b) a credit union or similar cooperative credit organization that is operated without profit;

2. The Financial Institution’s business consists primarily of receiving deposits from and making loans to, with respect to a bank, unrelated retail customers and, with respect to a credit union or similar cooperative credit organization, members, provided that no member has a greater than five percent interest in such credit union or cooperative credit organization;

3. The Financial Institution satisfies the requirements set forth in subparagraphs A(2) and A(3) of this section, provided that, in addition to the limitations on the website described in subparagraph A(3) of this section, the website does not permit the opening of a Financial Account;

4. The Financial Institution does not have more than $175 million in assets on its balance sheet, and the Financial Institution and any Related Entities, taken together, do not have more than $500 million in total assets on their consolidated or combined balance sheets; and

5. Any Related Entity must be incorporated or organized in Sweden, and any Related Entity that is a Financial Institution, with the exception of any Related Entity that is a retirement fund described in paragraphs A through E of section II of this Annex II or a Financial Institution with only low-value accounts described in paragraph C of this section, must satisfy the requirements set forth in this paragraph B.

C. Financial Institution with Only Low-Value Accounts. A Swedish Financial Institution satisfying the following requirements:

1. The Financial Institution is not an Investment Entity;

2. No Financial Account maintained by the Financial Institution or any Related Entity has a balance or value in excess of $50,000, applying the rules set forth in Annex I for account aggregation and currency translation; and

3. The Financial Institution does not have more than $50 million in assets on its balance sheet, and the Financial Institution and any Related Entities, taken together, do not have more than $50 million in total assets on their consolidated or combined balance sheets.

D. Qualified Credit Card Issuer. A Swedish Financial Institution satisfying the following requirements:

SÖ 2015:7

SÖ 2015:7 1. The Financial Institution is a Financial Institution solely because it is an issuer of credit cards that accepts deposits only when a customer makes a payment in excess of a balance due with respect to the card and the overpayment is not immediately returned to the customer; and

2. Beginning on or before July 1, 2014, the Financial Institution implements policies and procedures to either prevent a customer deposit in excess of $50,000, or to ensure that any customer deposit in excess of $50,000, in each case applying the rules set forth in Annex I for account aggregation and currency translation, is refunded to the customer within 60 days. For this purpose, a customer deposit does not refer to credit balances to the extent of disputed charges but does include credit balances resulting from merchandise returns.

IV. Investment Entities that Qualify as Deemed-Compliant FFIs and Other Special Rules. The Financial Institutions described in paragraphs A through F of this section are Non-Reporting Swedish Financial Institutions that shall be treated as deemed-compliant FFIs for purposes of section 1471 of the U.S. Internal Revenue Code. In addition, paragraph G of this section provides special rules applicable to an Investment Entity.

A. Trustee-Documented Trust. A trust established under the laws of Sweden to the extent that the trustee of the trust is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI and reports all information required to be reported pursuant to the Agreement with respect to all U.S. Reportable Accounts of the trust.

B. Sponsored Investment Entity and Controlled Foreign Corporation. A Financial Institution described in subparagraph B(1) or B(2) of this section having a sponsoring entity that complies with the requirements of subparagraph B(3) of this section.

1. A Financial Institution is a sponsored investment entity if

(a) it is an Investment Entity established in Sweden that is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations; and (b) an Entity has agreed with the Financial Institution to act as a sponsoring entity for the Financial Institution.

2. A Financial Institution is a sponsored controlled foreign corporation if (a) the Financial Institution is a controlled

foreign corporation1 organized under the laws of Sweden that is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations; (b) the Financial Institution is wholly owned, directly or indirectly, by a Reporting U.S. Financial Institution that agrees to act, or requires an affiliate of the Financial Institution to act, as a sponsoring entity for the Financial Institution; and (c) the Financial Institution shares a common electronic account system with the sponsoring entity that enables the sponsoring entity to identify all Account Holders and payees of the Financial Institution and to access all account and customer information maintained by the Financial Institution including, but not limited to, customer identification information, customer documentation, account balance, and all payments made to the Account Holder or payee.

3. The sponsoring entity complies with the following requirements:

a) The sponsoring entity is authorized to act on behalf of the Financial Institution (such as a fund manager, trustee, corporate director, or managing partner) to fulfill applicable registration requirements on the IRS FATCA registration website;

b) The sponsoring entity has registered as a sponsoring entity with the IRS on the IRS FATCA registration website;

c) If the sponsoring entity identifies any U.S. Reportable Accounts with respect to the Financial Institution, the sponsoring entity registers the Financial Institution pursuant to applicable registration requirements on the IRS FATCA registration website on or before the later of December 31, 2015 and the date that is 90 days after such a U.S. Reportable Account is first identified;

d) The sponsoring entity agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial

1 A “controlled foreign corporation” means any foreign corporation if more than 50 percent of the total combined voting power of all classes of stock of such corporation entitled to vote, or the total value of the stock of such corporation, is owned, or is considered as owned, by “United States shareholders” on any day during the taxable year of such foreign corporation. The term a “United States shareholder” means, with respect to any foreign corporation, a United States person who owns, or is considered as owning, 10 percent or more of the total combined voting power of all classes of stock entitled to vote of such foreign corporation.

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SÖ 2015:7 Institution would have been required to perform if it were a Reporting Swedish Financial Institution;

e) The sponsoring entity identifies the Financial Institution and includes the identifying number of the Financial Institution (obtained by following applicable registration requirements on the IRS FATCA registration website) in all reporting completed on the Financial Institution’s behalf; and

f) The sponsoring entity has not had its status as a sponsor revoked.

C. Sponsored, Closely Held Investment Vehicle. A Swedish Financial Institution satisfying the following requirements:

1. The Financial Institution is a Financial Institution solely because it is an Investment Entity and is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations;

2. The sponsoring entity is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI, is authorized to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Swedish Financial Institution;

3. The Financial Institution does not hold itself out as an investment vehicle for unrelated parties;

4. Twenty or fewer individuals own all of the debt interests and Equity Interests in the Financial Institution (disregarding debt interests owned by Participating FFIs and deemed-compliant FFIs and Equity Interests owned by an Entity if that Entity owns 100 percent of the Equity Interests in the Financial Institution and is itself a sponsored Financial Institution described in this paragraph C); and

5. The sponsoring entity complies with the following requirements:

a) The sponsoring entity has registered as a sponsoring entity with the IRS on the IRS FATCA registration website;

b) The sponsoring entity agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Swedish Financial Institution and retains documentation collected with respect to the Financial Institution for a period of six years;

c) The sponsoring entity identifies the Financial Institution in all reporting completed on the Financial Institution’s behalf; and

d) The sponsoring entity has not had its status as a sponsor revoked.

D. Investment Advisors and Investment Managers. An Investment Entity established in Sweden that is a Financial Institution solely because it (1) renders investment advice to, and acts on behalf of, or (2) manages portfolios for, and acts on behalf of, a customer for the purposes of investing, managing, or administering funds deposited in the name of a customer with a Financial Institution other than a Nonparticipating Financial Institution.

E. Profit-sharing foundation (Vinstandelsstiftelse). An Entity that is established in Sweden as a profit sharing foundation (Vinstandelsstiftelse) in Sweden by an employer for the benefit of employees that perform personal services in Sweden, provided that the profit sharing foundation is supervised by an official authority (the County Board [Länsstyrelsen]), distributions from the profit sharing foundation are reported to the Swedish tax authorities, and employees are subject to tax in Sweden upon a distribution from the profit sharing plan.

F. Collective Investment Vehicle. An Investment Entity established in Sweden that is regulated as a collective investment vehicle, provided that all of the interests in the collective investment vehicle (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions.

G. Special Rules. The following rules apply to an Investment Entity:

1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph F of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which

SÖ 2015:7

SÖ 2015:7 interests in the collective investment vehicle are held) shall be deemed fulfilled.

2. With respect to interests in:

a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or

b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations;

the reporting obligations of any Investment Entity that is a Swedish Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled.

3. With respect to interests in an Investment Entity established in Sweden that is not described in paragraph F or subparagraph G(2) of this section, consistent with paragraph 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person.

4. An Investment Entity established in Sweden that is regulated as a collective investment vehicle shall not fail to qualify under paragraph F or subparagraph G(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that:

a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012;

b) The collective investment vehicle retires all such shares upon surrender;

c) The collective investment vehicle (or a Reporting Swedish Financial Institution) performs the due

diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and

d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

V. Accounts Excluded from Financial Accounts. The following accounts are excluded from the definition of Financial Accounts and therefore shall not be treated as U.S. Reportable Accounts.

A. Certain Savings Accounts.

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1. Retirement and Pension Account. A retirement or pension account maintained in Sweden that satisfies the following requirements under the laws of Sweden.

a) The account is subject to regulation as a personal retirement account or is part of a registered or regulated retirement or pension plan for the provision of retirement or pension benefits (including disability or death benefits);

b) The account is tax-favored (i.e., contributions to the account that would otherwise be subject to tax under the laws of Sweden are deductible or excluded from the gross income of the account holder or taxed at a reduced rate, or taxation of investment income from the account is deferred or taxed at a reduced rate);

c) Annual information reporting is required to the tax authorities in Sweden with respect to the account;

d) Withdrawals are conditioned on reaching a specified retirement age, disability, or death, or penalties apply to withdrawals made before such specified events; and

e) Either (i) annual contributions are limited to $50,000 or less, or (ii) there is a maximum lifetime contribution limit to the account of $1,000,000 or less, in each case applying the rules set forth in Annex I for account aggregation and currency translation.

2. Non-Retirement Savings Accounts. An account maintained in Sweden (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of Sweden.

SÖ 2015:7 a) The account is subject to regulation as a savings vehicle for purposes other than for retirement;

b) The account is tax-favored (i.e., contributions to the account that would otherwise be subject to tax under the laws of Sweden are deductible or excluded from the gross income of the account holder or taxed at a reduced rate, or taxation of investment income from the account is deferred or taxed at a reduced rate);

c) Withdrawals are conditioned on meeting specific criteria related to the purpose of the savings account (for example, the provision of educational or medical benefits), or penalties apply to withdrawals made before such criteria are met; and

d) Annual contributions are limited to $50,000 or less, applying the rules set forth in Annex I for account aggregation and currency translation.

B. Certain Other Retirement Accounts or Products. A pension insurance contract established and maintained in Sweden, that is deemed to be a “Pensionsförsäkring” according to the Swedish Income Tax Code (1999:1229), provided that:

1. Contributions to insurance contract are made by an employer for the benefit of an employee performing personal services in Sweden;

2. Distributions or withdrawals from the contract are allowed only upon the occurrence of retirement, death, or disability of the employee;

3. Distributions are reported to the Swedish tax authorities; and

4. Upon distribution the employee is subject to tax in Sweden.

C. Certain Term Life Insurance Contracts. A life insurance contract maintained in Sweden with a coverage period that will end before the insured individual attains age 90, provided that the contract satisfies the following requirements:

1. Periodic premiums, which do not decrease over time, are payable at least annually during the period the contract is in existence or until the insured attains age 90, whichever is shorter;

2. The contract has no contract value that any person can access (by withdrawal, loan, or otherwise) without terminating the contract;

3. The amount (other than a death benefit) payable upon cancellation or termination of the contract cannot exceed the aggregate premiums paid for the contract, less the sum of mortality, morbidity, and expense charges (whether or not actually imposed) for the period or periods of the contract’s existence and any amounts paid prior to the cancellation or termination of the contract; and

4. The contract is not held by a transferee for value.

D. Account Held By an Estate. An account maintained in Sweden that is held solely by an estate if the documentation for such account includes a copy of the deceased’s will or death certificate.

E. Escrow Accounts. An account maintained in Sweden established in connection with any of the following:

1. A court order or judgment.

2. A sale, exchange, or lease of real or personal property, provided that the account satisfies the following requirements:

a) The account is funded solely with a down payment, earnest money, deposit in an amount appropriate to secure an obligation directly related to the transaction, or a similar payment, or is funded with a financial asset that is deposited in the account in connection with the sale, exchange, or lease of the property;

b) The account is established and used solely to secure the obligation of the purchaser to pay the purchase price for the property, the seller to pay any contingent liability, or the lessor or lessee to pay for any damages relating to the leased property as agreed under the lease;

c) The assets of the account, including the income earned thereon, will be paid or otherwise distributed for the benefit of the purchaser, seller, lessor, or lessee (including to satisfy such person’s obligation) when the property is sold, exchanged, or surrendered, or the lease terminates;

SÖ 2015:7

SÖ 2015:7 d) The account is not a margin or similar account established in connection with a sale or exchange of a financial asset; and

e) The account is not associated with a credit card account.

3. An obligation of a Financial Institution servicing a loan secured by real property to set aside a portion of a payment solely to facilitate the payment of taxes or insurance related to the real property at a later time.

4. An obligation of a Financial Institution solely to facilitate the payment of taxes at a later time.

F. Partner Jurisdiction Accounts. An account maintained in Sweden and excluded from the definition of Financial Account under an agreement between the United States and another Partner Jurisdiction to facilitate the implementation of FATCA, provided that such account is subject to the same requirements and oversight under the laws of such other Partner Jurisdiction as if such account were established in that Partner Jurisdiction and maintained by a Partner Jurisdiction Financial Institution in that Partner Jurisdiction.

VI. Definitions. The following additional definitions shall apply to the descriptions above:

A. Reporting Model 1 FFI. The term Reporting Model 1 FFI means a Financial Institution with respect to which a non-U.S. government or agency thereof agrees to obtain and exchange information pursuant to a Model 1 IGA, other than a Financial Institution treated as a Nonparticipating Financial Institution under the Model 1 IGA. For purposes of this definition, the term Model 1 IGA means an arrangement between the United States or the Treasury Department and a non-U.S. government or one or more agencies thereof to implement FATCA through reporting by Financial Institutions to such non-U.S. government or agency thereof, followed by automatic exchange of such reported information with the IRS.

B. Participating FFI. The term Participating FFI means a Financial Institution that has agreed to comply with the requirements of an FFI Agreement, including a Financial Institution described in a Model 2 IGA that has agreed to comply with the requirements of an FFI Agreement. The term Participating FFI also includes a qualified intermediary branch of a Reporting U.S. Financial Institution, unless such branch is a Reporting Model 1 FFI. For purposes of this definition, the term FFI Agreement means an agreement that sets forth the

requirements for a Financial Institution to be treated as complying with the requirements of section 1471(b) of the U.S. Internal Revenue Code. In addition, for purposes of this definition, the term Model 2 IGA means an arrangement between the United States or the Treasury Department and a non-U.S. government or one or more agencies thereof to facilitate the implementation of FATCA through reporting by Financial Institutions directly to the IRS in accordance with the requirements of an FFI Agreement, supplemented by the exchange of information between such non-U.S. government or agency thereof and the IRS.

SÖ 2015:7

SÖ 2015:7 MEMORANDUM OF UNDERSTANDING REGARDING THE AGREEMENT BETWEEN THE GOVERNMENT OF SWEDEN AND THE GOVERNMENT OF THE UNITED STATES OF AMERICA TO IMPROVE INTERNATIONAL TAX COMPLIANCE AND TO IMPLEMENT FATCA

At the signing today of the Agreement Between the Government of Sweden and the Government of the United States of America to Improve International Tax Compliance and to Implement FATCA (hereinafter the “Agreement”), the representatives of Sweden and the United States of America wish to confirm their understanding of the following:

Pursuant to paragraph 2 of Article 7 of the Agreement, the Government of Sweden hereby informs the United States that it declines the application of such more favorable terms under Article 4 of the Agreement or Annex I afforded to another Partner Jurisdiction under a signed bilateral agreement until such time as the Government of Sweden notifies the Government of the United States otherwise. The Government of Sweden and the Government of the United States share the understanding that such more favorable terms would apply as of the date of such written notification from Sweden with respect to the specific terms of the Agreement referenced in such notification.

In reference to paragraph 1 of Article 10 (Term of Agreement), the Government of the United States understands that the Government of Sweden plans to present the Agreement to its parliament for its approval in 2014 and, to propose implementing legislation with the goal of having the Agreement enter into force by September 30, 2015. Based on this understanding, as of the date of signature of the Agreement, the United States Department of the Treasury intends to treat each Swedish Financial Institution, as that term is defined in the Agreement, as complying with, and not subject to withholding under section 1471 of the

U.S. Internal Revenue Code during such time as Sweden is pursuing the necessary internal procedures for entry into force of the Agreement. The United States further understands that Sweden’s Ministry of Finance intends to contact the United States Department of the Treasury as soon as it is aware that there might be a delay in the Swedish internal approval process for entry into force of the Agreement such that Sweden would not be able to provide its notification under paragraph 1 of Article 10 of the Agreement prior to September 30, 2015. If upon consultation with Sweden, the United States receives credible assurances that such a delay is likely to be resolved in a reasonable period of time, the United States Department of the Treasury may decide to continue to apply FATCA to Swedish Financial Institutions in the manner described above as long as the United States Department of the Treasury assesses that Sweden is likely to be able to send its notification under paragraph 1 of Article 10 by September 30, 2016. It is understood that should the Agreement enter into force after September 30, 2015, any information that would have been reportable under the Agreement thereafter (and prior to its entry

into force) had the Agreement been in force by September 30, 2015, is owed on the September 30 following the date of entry into force.

In reference to the IRS registration and the obtaining of GIINs, it is understood that Swedish Financial Institutions are required to register with the IRS before January 1, 2015. The United States Department of the Treasury intends to treat each Swedish Financial Institution, as that term is defined in the Agreement, as complying with, and not subject to withholding under section 1471 of the U.S. Internal Revenue Code also during the time before such registration.

In reference to subparagraph B(4)(j) of Section VI of Xxxxx X, it is understood that the term “Active NFFE” includes the following Swedish Non-profit Organizations and similar entities;

1. Entities that are non-profit associations acting for public benefit or registered faith communities, subject to particular tax exemption under chapter 7 in the Swedish Income Tax Code (1999:1229) [inkomstskattelagen (1999:1229)],

2. Any charitable foundation that meets the requirements for particular tax exemptions in Chapter 7 in the Swedish Income Tax Code (1999:1229) [inkomstskattelagen (1999:1229)], and

3. Any other entity subject to tax exemption in chapter 7, sections 15, 16 and 17 in the Swedish Income Tax Code (1999:1229) [inkomstskattelagen (1999:1229)].

Signed at Stockholm, in duplicate, this 8th day of August, 2014

For the Government of Sweden For the Government of the United States of America

Xxxxxx Xxxxxxxx Xxxxxx Xxxxxxxxx

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SÖ 2015:7

Översättning1

Avtal mellan Sveriges regering och Amerikas förenta staters regering för att förbättra internationell efterlevnad av skatteregler och för att genomföra FATCA

Sveriges regering och Amerikas förenta staters regering (var och en ”part”, tillsammans ”parterna”) har sedan länge ett nära samarbete för att ömsesidigt bistå varandra i skatteärenden och önskar ingå ett avtal för att förbättra internationell efterlevnad av skatteregler genom att vidareutveckla detta samarbete.

Artikel 26 i det avtal för undvikande av dubbelbeskattning och förhindrande av skatteflykt beträffande skatter på inkomst som slöts i Stockholm den 1 september 1994 mellan Sveriges regering och Amerikas förenta staters regering, tillsammans med till avtalet hänförlig skriftväxling, och ändrat genom det protokoll som undertecknades i Washington den 30 september 2005 (tillsammans ”skatteavtalet”), ger stöd för ett utbyte av uppgifter för beskattningsändamål, inklusive på automatisk basis.

Amerikas förenta stater har infört den s.k. FATCA-lagstiftningen (Foreign Account Tax Compliance Act), som innebär ett regelsystem för rapportering för finansiella institut med avseende på vissa konton.

Sveriges regering stödjer den politiska målsättning som ligger till grund för FATCA, dvs. att förbättra skattereglernas efterlevnad.

Ett antal problem har uppmärksammats med FATCA, bl.a. att svenska finansiella institut kanske inte kan uppfylla vissa av kraven i FATCA på grund av hinder i inhemsk lagstiftning.

Amerikas förenta staters regering samlar in uppgifter om vissa konton som personer med hemvist i Sverige har i amerikanska finansiella institut och åtar sig att utbyta sådana uppgifter med Sveriges regering och att eftersträva en likvärdig nivå av informationsutbyte mellan parterna, under förutsättning att det finns lämpliga säkerhetsbestämmelser och infrastruktur för ett effektivt informationsutbyte.

Parterna förbinder sig till ett långsiktigt samarbete för att få till stånd gemensamma standarder för finansiella institut när det gäller rapportering och åtgärder för kundkännedom (due diligence).

Amerikas förenta staters regering är införstådd med behovet av att samordna rapporteringskraven i FATCA med andra amerikanska skatterapporteringskrav för svenska finansiella institut, så att dubbelrapportering kan undvikas.

1 Översättning i enlighet med den i prop. 2014/15:41 intagna texten

En mellanstatlig strategi för att genomföra FATCA skulle undanröja rättsliga hinder och minska bördan för de svenska finansiella instituten.

Parterna önskar ingå ett avtal i syfte att förbättra internationell efterlevnad av skatteregler och göra det möjligt att genomföra FATCA med hjälp av inhemsk rapportering och ett ömsesidigt automatiskt informationsutbyte i enlighet med skatteavtalet och under iakttagande av de sekretess- och andra skyddsbestämmelser som anges där, inklusive bestämmelser för att begränsa användningen av information som inhämtats i enlighet med det avtalet.

Mot denna bakgrund har parterna kommit överens om följande:

Artikel 1 Definitioner

1. Vid tillämpningen av detta avtal med bilagor (”Avtalet”) ska

följande definitioner gälla:

a) Med ”Förenta staterna” avses Amerikas förenta stater, inklusive delstaterna, och när begreppet används i geografisk bemärkelse, Amerikas förenta staters territorium, inklusive dess inlandsvatten, luftrum, territorialvatten och alla andra havsområden utanför dess territorialvatten över vilka Förenta staterna i överensstämmelse med folkrättens regler utövar suveräna rättigheter eller jurisdiktion. Begreppet omfattar dock inte Förenta staternas territorier. Varje hänvisning till Förenta staternas ”delstater” omfattar även District of Columbia.

b) Med ”ett amerikanskt territorium” avses Amerikanska Samoa, Samväldet Nordmarianerna, Territoriet Guam, Samväldet Puerto Rico eller Amerikanska Jungfruöarna.

c) Med ”IRS” avses den amerikanska federala skattemyndigheten Internal Revenue Service.

d) Med ”Sverige” avses Konungariket Sverige och, när uttrycket används i geografisk bemärkelse, Sveriges territorium, dess territorialvatten liksom de andra havsområden över vilka Sverige utövar suveräna rättigheter eller jurisdiktion i överensstämmelse med folkrättens regler.

e) Med ”partnerjurisdiktion” avses en jurisdiktion med vilken Förenta staterna har ett gällande avtal för att underlätta genomförandet av XXXXX. IRS ska

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SÖ 2015:7 offentliggöra en förteckning över samtliga partnerjurisdiktioner.

f) Med ”behörig myndighet” avses

(1) i Förenta staterna: ”Secretary of the Treasury”

eller dennes befullmäktigade ombud, och

(2) i Sverige: finansministern eller dennes befullmäktigade ombud eller den myndighet åt vilken uppdragits att vara behörig myndighet enligt Xxxxxxx,

g) Med ”finansiellt institut” avses ett depåinstitut, ett inlåningsinstitut, en investeringsenhet eller ett specificerat försäkringsföretag.

h) Med ”depåinstitut” avses en enhet där förvaring eller förvaltning av finansiella tillgångar för andras räkning utgör en väsentlig del av verksamheten. En enhets förvaring eller förvaltning av finansiella tillgångar för andras räkning ska anses utgöra en väsentlig del av verksamheten om de bruttointäkter inom enheten som härrör från förvaring eller förvaltning av finansiella tillgångar och därtill knutna finansiella tjänster motsvarar eller överstiger 20 procent av enhetens bruttointäkter under den period som är kortast av antingen i) en treårsperiod, med slutdatum den 31 december (eller det slutdatum som gäller för räkenskapsår som inte är kalenderår), som förlupit sedan det år då bedömningen gjordes, eller ii) den period som enheten har existerat.

i) Med ”inlåningsinstitut” avses en enhet som tar emot insättningar inom ramen för sin ordinarie bankverksamhet eller liknande verksamhet.

j) Med ”investeringsenhet” avses en enhet som i sin näringsverksamhet (eller som förvaltas av en enhet som i sin näringsverksamhet) bedriver en eller flera av följande verksamheter för en kund eller för en kunds räkning:

(1) handel med penningmarknadsinstrument (checkar, växlar, inlåningsbevis, derivatinstrument etc.), valuta, valuta-, ränte- och indexinstrument, överlåtbara värdepapper eller handel med råvarufutures,

(2) individuell och kollektiv portföljförvaltning, eller

(3) på något annat sätt investerar, administrerar eller förvaltar tillgångar för andra personers räkning.

Tolkningen av artikel 1.j ska stämma överens med motsvarande formuleringar i definitionen av ”finansiellt institut” (financial institution) i rekommendationerna från arbetsgruppen för finansiella åtgärder mot penningtvätt (Financial Action Task Force, Fatf).

k) Med ”specificerat försäkringsföretag” avses en enhet som är ett försäkringsföretag (eller ett försäkringsföretags holdingbolag) som tecknar, eller är förpliktigat att verkställa utbetalningar i enlighet med, ett försäkringsavtal med kontantvärde (cash value insurance contract) eller livränteavtal (annuity contract).

l) Med ”svenskt finansiellt institut” avses i) ett finansiellt institut med hemvist i Sverige, dock inte en filial till ett sådant finansiellt institut som är belägen utanför Sverige, och ii) en filial till ett finansiellt institut som inte har sin hemvist i Sverige, om filialen är belägen i Sverige.

m) Med ”partnerjurisdiktions finansinstitut” avses i) ett finansiellt institut som etablerats i en partnerjurisdiktion, dock inte en filial till ett sådant finansiellt institut som är belägen utanför partnerjurisdiktionen, och ii) en filial till ett finansiellt institut som inte etablerats inom en partnerjurisdiktion, om filialen är belägen inom partnerjurisdiktionen.

n) Med ”rapporteringsskyldigt finansiellt institut” avses ett rapporteringsskyldigt svenskt finansiellt institut eller ett rapporteringsskyldigt amerikanskt finansiellt institut, beroende på sammanhanget.

o) Med ”rapporteringsskyldigt svenskt finansiellt institut” avses ett svenskt finansiellt institut som inte är ett icke-rapporteringsskyldigt svenskt finansiellt institut.

p) Med ”rapporteringsskyldigt amerikanskt finansiellt institut” avses i) ett finansiellt institut som har sin hemvist i Förenta staterna, dock inte en filial till ett sådant finansiellt institut som är belägen utanför Förenta staterna, och ii) en filial till ett finansiellt institut som inte har sin hemvist i Förenta staterna, om filialen är belägen i Förenta staterna, under förutsättning att det finansiella institutet eller filialen

SÖ 2015:7

SÖ 2015:7 kontrollerar, tar emot eller förvaltar sådan inkomst som omfattas av informationsutbyteskrav i enlighet med artikel 2.2 b i Avtalet.

q) Med ”icke-rapporteringsskyldigt svenskt finansiellt institut” avses ett svenskt finansiellt institut, eller en annan enhet med hemvist i Sverige, som i bilaga II beskrivs som ett icke-rapporteringsskyldigt svenskt finansiellt institut eller som på annat sätt uppfyller kraven för att kunna anses utgöra ett utländskt finansiellt institut som bedöms följa FATCA-reglerna (deemed-compliant FFI) eller en undantagen faktisk innehavare (exempt beneficial owner) i enlighet med de relevanta amerikanska författningarna U.S. Treasury Regulations som är i kraft det datum då Avtalet undertecknas.

r) Med ”icke-deltagande finansiellt institut” avses ett icke-deltagande utländskt finansiellt institut (nonparticipating FFI) i enlighet med detta begrepps definition i de relevanta amerikanska författningarna

U.S. Treasury Regulations, dock inte ett svenskt finansiellt institut eller finansiellt institut i annan partnerjurisdiktion som inte är ett sådant finansiellt institut som ska behandlas som ett icke-deltagande finansiellt institut i enlighet med artikel 5.2 b i Avtalet eller motsvarande bestämmelse i ett avtal mellan Förenta staterna och en partnerjurisdiktion.

s) Med ”finansiellt konto” avses ett konto hos ett finansiellt institut och omfattar följande:

(1) när det är fråga om en enhet som är ett finansiellt institut uteslutande på grund av att den är en investeringsenhet: andel i eget kapital eller skulder i det finansiella institutet (dock inte andel som är föremål för regelmässig handel på en etablerad värdepappersmarknad),

(2) när det är fråga om ett sådant finansiellt institut som inte beskrivs i punkt 1.s 1 i denna artikel: andel i eget kapital eller skulder i det finansiella institutet (dock inte andel som är föremål för regelmässig handel på en etablerad värdepappersmarknad), om i) värdet av andelen i eget kapital eller skulder fastställs, direkt eller indirekt, huvudsakligen på grundval av tillgångar som ger upphov till källskattepliktiga betalningar med amerikansk källa (U.S. source withholdable payments),

och ii) typen av andel har valts i syfte att undvika rapportering i enlighet med Xxxxxxx, och

(3) försäkringsavtal med kontantvärde eller livränteförsäkringsavtal som tecknas eller förvaltas av ett finansiellt institut, dock inte icke-investeringsrelaterad, icke-överförbar och omedelbart utbetalbar livränteförsäkring som tecknats för en fysisk person och innebär penningutbetalning av ålders- eller sjukpensionsförmån i enlighet med ett konto som inte omfattas av definitionen för finansiellt konto i bilaga II.

Oavsett vad som anges i det föregående omfattar begreppet ”finansiellt konto” inte ett sådant konto som är uteslutet från definitionen av finansiellt konto i bilaga II. Vid tillämpning av detta avtal ska andel i eget kapital eller skulder anses vara ”föremål för regelmässig handel” om det på en fortgående basis finns en meningsfull volym av handel med avseende på andelen och med en ”etablerad värdepappersmarknad” avses en handelsplats som är officiellt erkänd och som övervakas av en offentlig myndighet där marknaden är belägen och som har ett meningsfullt årligt värde på de andelar som handlas på handelsplatsen. Vid tillämpning av denna artikel 1.1.s ska en andel i eget kapital eller skulder i ett finansiellt institut inte anses vara ”föremål för regelmässig handel” och ska behandlas som ett finansiellt konto, om innehavaren av andelen (bortsett från ett finansiellt institut som agerar i egenskap av förmedlare) är upptagen som innehavare av en sådan andel i det finansiella institutets register. Föregående mening är inte tillämplig på andelar avseende vilka innehavare togs upp i det finansiella institutets register före den 1 juli 2014, och med avseende på sådana andelar som togs upp i det finansiella institutets register den 1 juli 2014 eller senare är det finansiella institutet inte skyldigt att tillämpa föregående mening före den 1 januari 2016.

t) Med ”inlåningskonto” avses ett företags-, löne-

/person-, spar-, kapital- eller girokonto eller ett konto som finns dokumenterat genom insättningsbevis, sparbevis, investeringsbevis, inlåningsbevis eller annat liknande instrument som tillhandahålls av ett finansiellt institut inom ramen för dess regelmässiga bankverksamhet eller liknande verksamhet. Begreppet inlåningskonto omfattar även belopp som förvaltas av ett försäkringsföretag och som i enlighet med ett avtal om garanterad investering eller liknande avtal är föremål för utbetalning eller tillgodoräknande av ränta.

u) Med ”depåkonto” avses ett konto (dock inte försäkrings- eller livränteavtal) som förs till förmån för annan person och som innehåller ett finansiellt

SÖ 2015:7

SÖ 2015:7 instrument eller investeringsavtal (inbegripet, men inte begränsat till, andel eller aktie i ett företag, skuldebrev, obligation, lånebevis eller annat skuldbevis, valuta- eller råvarutransaktion, kreditswap (credit default swap, CDS), swap baserad på icke-finansiellt index, fiktivkapitalkontrakt (notional principal contract, NPC), försäkrings- eller livränteavtal samt option eller annat derivatinstrument).

v) Med ”andel i eget kapital” avses, när det är fråga om en i utlandet delägarbeskattad juridisk person (partnership) som är ett finansiellt institut, en andel antingen i den juridiska personens kapital eller i dess avkastning. När det är fråga om en trust som är ett finansiellt institut ska andel i eget kapital anses innehas av en person som betraktas som stiftare eller förmånstagare för hela eller del av trusten eller annan fysisk person som utövar verklig kontroll över trusten. En ”specificerad amerikansk person” (specified U.S. person) ska betraktas som förmånstagare av en utländsk trust om denna specificerade amerikanska person har rätt att direkt eller indirekt (t.ex. genom ombud) erhålla en fixerad utdelning eller som kan, direkt eller indirekt, erhålla en diskretionär utdelning från trusten.

w) Med ”försäkringsavtal” avses ett avtal (dock inte livränteavtal) som innebär att utfärdaren förbinder sig att betala ut ett belopp i samband med en specificerad oviss händelse förknippad med dödsfall, sjukdom, olycksfall, skadeståndsanspråk eller egendomsskaderisk.

x) Med ”livränteavtal” avses ett avtal enligt vilket utfärdaren förbinder sig att göra utbetalningar under en viss tidsperiod som helt eller delvis bestäms med hänsyn till den förväntade livslängden för en eller flera personer. Begreppet innefattar även avtal som betraktas som livränteavtal i enlighet med den jurisdiktions lagstiftning, föreskrifter eller praxis inom vilken avtalet slöts och i enlighet med vilken utfärdaren förbinder sig att göra utbetalningar under ett visst antal år.

y) Med ”försäkringsavtal med kontantvärde” avses ett försäkringsavtal (som inte är ett ansvarsåterförsäkringsavtal mellan två försäkringsföretag) med ett kontantvärde som överstiger 50 000 US-dollar.

z) Med ”kontantvärde” avses det belopp som är högst av

i) det belopp som försäkringstagaren har att erhålla vid

ett återköp eller uppsägning av avtalet (som fastställs utan avdrag för eventuella avgifter för återköp eller pantsättning) eller ii) det belopp som försäkringstagaren kan låna i enlighet med eller med hjälp av avtalet. Oavsett vad som anges i det föregående omfattar begreppet ”kontantvärde” inte ett belopp som utbetalas i enlighet med ett försäkringsavtal och som utgör

(1) personskade- eller sjukdomsförmån eller annan försäkringsförmån som utgör ersättning för ekonomisk skada som uppkommit i samband med sådan händelse som försäkringen gäller för,

(2) återbetalning till försäkringstagaren av premie som erlagts tidigare i enlighet med ett försäkringsavtal (dock inte ett livförsäkringsavtal) på grund av att avtalet hävts eller sagts upp, risken reducerats under försäkringsavtalets löptid eller premien ändrats till följd av korrigering av räknefel eller annat misstag, eller

(3) återbäring till försäkringstagaren på grundval av det försäkringstekniska utfallet för avtalet eller gruppen i fråga.

aa) Med ”rapporteringspliktigt konto” avses ett amerikanskt rapporteringspliktigt konto eller ett svenskt rapporteringspliktigt konto, beroende på sammanhanget.

bb) Med ”svenskt rapporteringspliktigt konto” avses ett finansiellt konto hos ett rapporteringsskyldigt amerikanskt finansiellt institut om i) när det är fråga om ett inlåningskonto, kontot innehas av en fysisk person med hemvist i Sverige och en ränta som överstiger 10 US-dollar betalas ut till kontot under något kalenderår, eller ii) när det är fråga om ett finansiellt konto som inte är ett inlåningskonto, kontohavaren har sin hemvist i Sverige, inbegripet en enhet med bestyrkt skatterättslig hemvist i Sverige, till vilken utbetalas eller tillgodoräknas inkomst som uppstått i Förenta staterna och som är rapporteringspliktig i enlighet med avsnitt A.3 eller

F.61 i den amerikanska skattelagstiftningen Internal Revenue Code.

SÖ 2015:7

SÖ 2015:7 cc) Med ”amerikanskt rapporteringspliktigt konto” avses ett finansiellt konto som förs av ett rapporteringsskyldigt svenskt finansiellt institut och innehas av en eller flera specificerade amerikanska personer eller av en icke-amerikansk enhet med en eller flera personer med bestämmande inflytande som är en specificerad amerikansk person. Oavsett vad som anges i det föregående ska ett konto inte anses vara ett amerikanskt rapporteringspliktigt konto om kontot inte har identifierats som ett amerikanskt rapporteringspliktigt konto efter att kriterierna i förfarandet för kundkännedom (due diligence) i bilaga I har tillämpats.

dd) Med ”kontohavare” avses den person som det kontohållande finansiella institutet har registrerat eller identifierat som innehavare av ett finansiellt konto. En person som inte är ett finansiellt institut och som i egenskap av ombud, förmyndare, förvaltare, underteckningsbehörig, investeringsrådgivare eller förmedlare förvaltar ett finansiellt konto till förmån för annan person eller för annan persons räkning ska inte anses vara innehavare av kontot vid tillämpningen av Avtalet, utan sådan annan person ska anses som innehavare av kontot. I föregående mening inbegriper begreppet ” finansiellt institut” inte ett finansiellt institut som etablerats eller registrerats inom något av Förenta staternas territorier. När det är fråga om ett försäkringsavtal med kontantvärde eller ett livränteavtal är kontohavaren varje person som har rättmätig tillgång till avtalets kontantvärde eller rätt att ändra avtalets förmånstagare. Om det inte finns någon person som kan ha tillgång till kontantvärdet eller rätt att ändra förmånstagare ska kontohavare anses vara varje person som i avtalet anges som ägare och varje person med förvärvade rättigheter till utbetalning i enlighet med avtalet. När ett försäkringsavtal med kontantvärde eller ett livränteavtal faller ut anses varje person som i enlighet med avtalet har rätt till utbetalning som kontohavare.

ee) Med ”amerikansk person” avses amerikansk medborgare eller fysisk person med hemvist i Förenta staterna, i utlandet delägarbeskattad juridisk person eller aktiebolag registrerat i Förenta staterna eller i enlighet med amerikansk federal lagstiftning eller delstatslagstiftning, trust om i) en domstol i Förenta staterna enligt gällande lagstiftning har behörighet att avge ett föreläggande eller en dom i väsentligen samtliga frågor som rör trustens administration, och ii) en eller flera amerikanska personer har behörighet att

kontrollera alla väsentliga beslut inom trusten, eller ett dödsbo efter en avliden person som var amerikansk medborgare eller hade sin hemvist i Förenta staterna. Detta led ee i artikel 1 ska tolkas i enlighet med Förenta staternas skattelagstiftning Internal Revenue Code.

ff) Med ”specificerad amerikansk person” avses en amerikansk person, som inte är i) ett bolag vars aktier det handlas regelmässigt med på en eller flera etablerade värdepappersmarknader, ii) ett bolag som ingår i en och samma utvidgade företagsgrupp, i enlighet med definitionen i avsnitt 1471 e 2 i Förenta staternas skattelagstiftning Internal Revenue Code, i egenskap av bolag i enlighet med beskrivningen i villkor i), iii) Förenta staterna eller en institution eller ett organ som helt ägs av Förenta staterna, iv) en amerikansk delstat, ett amerikanskt territorium, en politisk underavdelning inom någon/något av dessa eller en institution eller ett organ som ägs helt av en eller flera av dessa, v) en organisation som är skattebefriad i enlighet med avsnitt 501 a i Internal Revenue Code eller en individuell pensionsordning i enlighet med definitionen i avsnitt 7701 a 37 i Internal Revenue Code, vi) en bank, i enlighet med definitionen i avsnitt 581 i Internal Revenue Code, vii) en fastighetsfond (real estate investment trust), i enlighet med definitionen i avsnitt 856 i Internal Revenue Code,

viii) ett reglerat investeringsbolag (regulated investment company), i enlighet med definitionen i avsnitt 851 i Internal Revenue Code eller en enhet som är registrerad hos U.S. Securities and Exchange Commission i enlighet med Investment Company Act från 1940 (15 U.S.C. 80a-64), ix) en allmän förvaltningsfond (common trust fund), i enlighet med definitionen i avsnitt 584 a i Internal Revenue Code, x) en trust som är skattebefriad i enlighet med avsnitt 664 c i Internal Revenue Code eller som överensstämmer med beskrivningen i avsnitt 4947 a 1 i Internal Revenue Code, xi) en handlare i värdepapper, råvaror eller finansiella derivatinstrument (inklusive fiktivkapitalkontrakt (notional principal contracts), forwards, futures och optioner) som är registrerad som sådan i enlighet med amerikansk federal lagstiftning eller delstatslagstiftning, xii) en mäklare i enlighet med definitionen i avsnitt 6045 c i Internal Revenue Code, eller xiii) en skattebefriad trust enligt en sådan plan som beskrivs i avsnitt 403 b eller 457 b i Internal Revenue Code.

SÖ 2015:7

SÖ 2015:7 gg) Med ”enhet” avses en juridisk person eller annan juridisk konstruktion såsom en trust.

hh) Med ”icke-amerikansk enhet” avses en enhet som inte är en amerikansk person.

ii) Med ”källskattepliktig betalning med amerikansk källa” avses varje betalning av ränta (inklusive ursprunglig emissionsrabatt), utdelning, hyra, lön, arvode, premie, livränta, vederlag, ersättning och annan fastställd eller fastställbar årlig eller periodisk avkastning, vinst och inkomst om sådan betalning härrör från en källa i Förenta staterna. Oavsett vad som anges i det föregående inkluderar källskattepliktig betalning med amerikansk källa inte en betalning som i de relevanta amerikanska författningarna U.S. Treasury Regulations inte behandlas som en betalning för vilken källskatt ska innehållas.

jj) En enhet är en till en annan enhet ”närstående enhet” om en av enheterna kontrollerar den andra enheten eller om båda enheterna står under gemensam kontroll. Med kontroll avses här direkt eller indirekt innehav av mer än 50 procent av rösterna eller värdet i en enhet. Oavsett vad som anges i det föregående kan Sverige betrakta en enhet som en till en annan enhet icke närstående enhet om de två enheterna inte ingår i samma utvidgade företagsgrupp i enlighet med definitionen i avsnitt 1471 e 2 i Förenta staternas skattelagstiftning Internal Revenue Code.

kk) Med ”amerikanskt skatteregistreringsnummer” (taxpayer identification number, TIN) avses ett amerikanskt federalt identifikationsnummer för skattebetalare.

ll) Med ”svenskt skatteregistreringsnummer” avses ett svenskt identifikationsnummer för skattebetalare.

mm) Med ”personer med bestämmande inflytande” avses de fysiska personer som utövar kontroll över en enhet. När det är fråga om en trust avses stiftaren, förvaltaren, beskyddaren (om sådan finns), förmånstagarna eller förmånstagarkretsen och varje annan fysisk person som utövar verklig kontroll över trusten, och när det är fråga om en juridisk konstruktion som inte är en trust avser begreppet personer i motsvarande eller liknande ställning. Tolkningen av begreppet ” personer med bestämmande inflytande” ska stämma överens med rekommendationerna från arbetsgruppen för finansiella åtgärder mot penningtvätt (Fatf).

2. Såvida inte sammanhanget föranleder annat eller behöriga myndigheter kommer överens om en gemensam tolkning (i överensstämmelse med parternas inhemska lagstiftning) ska varje begrepp som inte på annat sätt definieras i Avtalet ha den betydelse som det har vid den aktuella tidpunkten i enlighet med lagstiftningen i den part som tillämpar Avtalet, varvid den betydelse som begreppet har enligt den partens tillämpliga skattelagstiftning ska äga företräde framför den betydelse begreppet har i den partens övriga lagstiftning.

Artikel 2

Skyldighet att inhämta och vidarebefordra uppgifter om rapporteringspliktiga konton

1. Om inte bestämmelserna i artikel 3 i Avtalet föranleder annat ska varje part inhämta de uppgifter som anges i punkt 2 i denna artikel om alla rapporteringspliktiga konton och årligen på automatisk basis vidarebefordra dessa uppgifter till den andra parten i enlighet med artikel 26 i skatteavtalet.

2. Följande uppgifter ska inhämtas och vidarebefordras:

a) För Sveriges del när det är fråga om ett amerikanskt rapporteringspliktigt konto hos ett rapporteringsskyldigt svenskt finansiellt institut:

(1) namn, adress och amerikanskt skatteregistreringsnummer för varje specificerad amerikansk person som är kontohavare för ett sådant konto, och när det är fråga om en icke-amerikansk enhet som, efter att de åtgärder för kundkännedom (due diligence) som anges i bilaga I har vidtagits, har identifierats som en enhet med en eller flera personer med bestämmande inflytande som är en specificerad amerikansk person: namn, adress och eventuellt amerikanskt skatteregistreringsnummer för en sådan enhet och varje sådan specificerad amerikansk person,

(2) kontonummer (eller, om kontonummer saknas, funktionell motsvarighet till sådant),

(3) det rapporteringsskyldiga svenska finansiella institutets namn och identifikationsnummer,

(4) kontots saldo eller värde (inklusive kontantvärdet eller återköpsvärdet om det är fråga om ett försäkringsavtal med

SÖ 2015:7

SÖ 2015:7 kontantvärde eller ett livränteförsäkringsavtal) vid utgången av relevant kalenderår eller annan lämplig rapporteringsperiod, eller omedelbart före kontots avslutande om kontot avslutats under det året,

(5) när det är fråga om ett depåkonto:

(A) totalt bruttobelopp för ränta, totalt bruttobelopp för utdelning och totalt bruttobelopp för annan inkomst som härrör från de tillgångar som förvaltas på kontot, och som i vart och ett av fallen betalats ut till eller krediterat kontot (eller med avseende på kontot) under ett kalenderår eller annan lämplig rapporteringsperiod, och

(B) total bruttoavkastning från försäljning eller inlösen av tillgångar som betalats ut till eller tillgodoräknats kontot under ett kalenderår eller annan lämplig rapporteringsperiod med avseende på vilken det rapporteringsskyldiga svenska finansiella institutet agerat förvaltare, mäklare, ombud eller annan form av företrädare för kontohavaren,

(6) när det är fråga om ett inlåningskonto: totalt bruttobelopp för ränta som betalats ut till eller tillgodoräknats kontot under ett kalenderår eller annan lämplig rapporteringsperiod, och

(7) när det är fråga om konto som inte beskrivs i punkterna 2 a 5 eller 2 a 6 i denna artikel: totalt bruttobelopp som under ett kalenderår eller annan lämplig rapporteringsperiod betalats ut till eller tillgodoräknats kontohavaren med avseende på konto för vilket det rapporteringsskyldiga svenska finansiella institutet är gäldenär eller garant, inklusive sammanlagt belopp för eventuella betalningar av inlösen som gjorts till kontohavaren under ett kalenderår eller annan lämplig rapporteringsperiod.

b) För Förenta staternas del när det gäller ett svenskt rapporteringspliktigt konto hos ett rapporteringsskyldigt amerikanskt finansiellt institut:

(1) namn, adress och svenskt skatteregistreringsnummer för person som har sin hemvist i Sverige och är kontohavare för kontot,

(2) kontonummer (eller, om kontonummer saknas, funktionell motsvarighet till sådant),

(3) det rapporteringsskyldiga amerikanska finansiella institutets namn och identifikationsnummer,

(4) totalt bruttobelopp för ränta som betalats för ett inlåningskonto,

(5) totalt bruttobelopp för utdelning som härrör från amerikansk källa och som betalats till eller tillgodoräknats kontot, och

(6) totalt bruttobelopp för annan inkomst som härrör från amerikansk källa och som betalats till eller tillgodoräknats kontot, om sådan inkomst är rapporteringspliktig i enlighet med kapitel 3 i avdelning A eller kapitel 61 i avdelning F i Förenta staternas skattelagstiftning Internal Revenue Code.

Artikel 3

När och hur informationsutbytet ska ske

1. När det gäller skyldigheten att utbyta uppgifter i enlighet med artikel 2 i Avtalet får belopp och typ för betalning som görs med avseende på ett amerikanskt rapporteringspliktigt konto fastställas i enlighet med principerna för svensk skattelagstiftning, och belopp och typ för betalning som görs med avseende på ett svenskt rapporteringspliktigt konto får fastställas i enlighet med principerna för amerikansk federal inkomstskattelagstiftning.

2. När det gäller skyldigheten att utbyta uppgifter i enlighet med artikel 2 i Avtalet ska de uppgifter som utbyts omfatta information om vilken valuta varje relevant belopp anges i.

3. När det gäller artikel 2.2 i Avtalet är det uppgifter för 2014 och alla efterföljande år som ska inhämtas och utbytas, med följande undantag:

SÖ 2015:7

SÖ 2015:7 a) När det gäller Sverige:

(1) de uppgifter för 2014 som ska inhämtas och utbytas är endast de uppgifter som anges i punkterna 1–4 i artikel 2.2 a i Avtalet,

(2) de uppgifter för 2015 som ska inhämtas och utbytas är de uppgifter som anges i punkterna 1–7 i artikel 2.2 a i Avtalet, med undantag för sådan bruttoavkastning som anges i artikel 2.2 a 5 B i Avtalet, och

(3) de uppgifter för 2016 och senare som ska inhämtas och utbytas är de uppgifter som anges i punkterna 1–7 i artikel 2.2 a i Avtalet.

b) När det gäller Förenta staterna är de uppgifter för 2014 och senare som ska inhämtas och utbytas alla de uppgifter som anges i artikel 2.2 b i Avtalet.

4. Oavsett vad som anges i punkt 3 i denna artikel gäller för ett rapporteringspliktigt konto som per den 30 juni 2014 förs av ett rapporteringsskyldigt finansiellt institut och som faller under bestämmelserna i artikel 6.4 i Avtalet att parterna inte är skyldiga att inhämta och i de uppgifter som ska utbytas inkludera uppgifter om svenskt skatteregistreringsnummer eller amerikanskt skatteregistreringsnummer, beroende på vad som är tillämpligt, för den berörda personen om sådant skatteregistreringsnummer inte registreras hos det rapporteringsskyldiga finansiella institutet. I sådant fall ska parterna inhämta och i de uppgifter som ska vidarebefordras inkludera födelsedatum för den berörda personen, om det rapporteringsskyldiga finansiella institutet har sådana uppgifter registrerade.

5. Om inte bestämmelserna i punkt 3 och 4 i denna artikel föranleder annat ska sådana uppgifter som anges i artikel 2 i Avtalet utbytas inom nio månader efter utgången av det kalenderår till vilket uppgifterna hänför sig.

6. Behöriga myndigheter i Sverige och Förenta staterna ska i enlighet med förfarandet vid ömsesidig överenskommelse i artikel 25 i skatteavtalet ingå ett avtal eller en överenskommelse som

a) fastställer förfarandena för det automatiska informationsutbyte som beskrivs i artikel 2 i Avtalet,

b) anger de regler och förfaranden som kan krävas för att artikel 5 i Avtalet ska kunna genomföras, och

c) vid behov fastställer förfaranden för utbytet av sådana uppgifter som ska rapporteras i enlighet med artikel

4.1 b i Avtalet.

7. För alla uppgifter som utbyts ska de sekretess- och andra skyddsbestämmelser som anges i skatteavtalet gälla, inklusive bestämmelserna om begränsningar för hur de rapporterade uppgifterna får användas.

8. Efter att detta Avtal trätt i kraft, ska varje behörig myndighet skriftligen underrätta den andra behöriga myndigheten när den bedömer att den andra behöriga myndighetens jurisdiktion har på plats (i) lämpliga säkerhetsbestämmelser för att tillförsäkra att information som tas emot i enlighet med detta Avtal fortsätter att vara sekretessbelagd och uteslutande används för beskattningsändamål, och (ii) en infrastruktur för ett effektivt informationsutbyte (innefattande etablerade processer för att säkerställa rättidiga, korrekta och sekretessbelagda informationsutbyten, effektiva och pålitliga kommunikationer samt påvisad kapacitet att snabbt lösa ut frågor och bekymmer om utbyten eller begäran om utbyten och för att administrera bestämmelserna i artikel 5 i detta Avtal). De behöriga myndigheterna ska i god tro sträva efter att före september 2015 fastställa att varje jurisdiktion har sådana säkerhetsbestämmelser och sådan infrastruktur på plats.

9. Parternas åligganden att inhämta och utbyta information enligt artikel 2 i detta Avtal blir tillämpliga det datum då den senare av de skriftliga underrättelserna som beskrivs i punkt 8 i denna artikel lämnas. Oavsett vad som anges i det föregående, om Sveriges behöriga myndighet är tillfreds med att Amerikas förenta stater har de säkerhetsbestämmelser och den infrastruktur som beskrivs i punkt 8 i denna artikel men ytterligare tid behövs för Amerikas förenta stater för att fastställa att Sverige har sådana säkerhetsbestämmelser och sådan infrastruktur på plats, ska Sveriges åliggande att inhämta och utbyta information enligt artikel 2 i detta Avtal bli tillämpligt det datum då Sveriges behöriga myndighet skriftligen underrättar Amerikas förenta staters behöriga myndighet i enlighet med punkt 8 i denna artikel.

10. Detta Avtal ska upphöra att gälla den 30 september 2015 om artikel 2 i detta Avtal den dagen inte är tillämplig för någon av parterna med tillämpning av punkt 9 i denna artikel.

Artikel 4

Tillämpningen av FATCA på svenska finansiella institut

1. Behandling av rapporteringsskyldiga svenska finansiella institut. Xxxxx rapporteringsskyldigt svenskt finansiellt institut ska anses uppfylla kraven, och inte vara föremål för innehållande av källskatt, i enlighet med avsnitt 1471 i Förenta staternas skattelagstiftning Internal Revenue Code om Sverige fullgör sina skyldigheter i enlighet med artiklarna 2 och 3 i Avtalet med avseende på ett sådant rapporteringsskyldigt svenskt finansiellt institut och om det rapporteringsskyldiga svenska finansiella institutet

SÖ 2015:7

SÖ 2015:7 a) identifierar amerikanska rapporteringspliktiga konton och årligen till den svenska behöriga myndigheten inkommer med sådana uppgifter som i enlighet med artikel 2.2 a ska rapporteras och uppfyller de bestämmelser om när och hur informationsutbytet ska ske som anges i artikel 3 i Avtalet,

b) för vart och ett av åren 2015 och 2016 årligen till den svenska behöriga myndigheten meddelar namnet på varje icke-deltagande finansiellt institut till vilken betalningar har gjorts samt det sammanlagda belopp dessa betalningar uppgår till,

c) uppfyller gällande krav om registrering på IRS webbsida för FATCA-registrering,

d) innehåller 30 procent av varje källskattepliktig betalning med amerikansk källa till varje icke- deltagande finansiellt institut om det rapporteringsskyldiga svenska finansiella institutet i) agerar i egenskap av behörig förmedlare (qualified intermediary) (i enlighet med avsnitt 1441 i Förenta staternas skattelagstiftning Internal Revenue Code) som har valt att påta sig ett primärt ansvar för innehållande av källskatt i enlighet med kapitel 3 i avsnitt A i Internal Revenue Code, ii) är ett innehållande i utlandet delägarbeskattad juridisk person (withholding foreign partnership) (i enlighet med avsnitten 1441 och 1471 i Internal Revenue Code) eller iii) är en utländsk trust som har valt att agera som källskattinnehållande utländsk trust (i enlighet med avsnitten 1441 och 1471 i Internal Revenue Code), och

e) till den direkta utbetalaren av källskattepliktig betalning med amerikansk källa tillhandahåller de uppgifter som krävs för att källskatt ska kunna innehållas och rapportering ska kunna ske avseende betalningen, om det är fråga om ett rapporteringsskyldigt svenskt finansiellt institut som inte beskrivs i punkt 1 d i denna artikel och som utför, eller agerar förmedlare med avseende på, en källskattepliktig betalning med amerikansk källa till ett icke-deltagande finansiellt institut.

Oavsett vad som anges i det föregående ska ett rapporteringsskyldigt svenskt finansiellt institut som inte uppfyller kraven i denna punkt 1 inte behöva innehålla källskatt i enlighet med avsnitt 1471 i Förenta staternas skattelagstiftning Internal Revenue Code, såvida inte sådant rapporteringsskyldigt svenskt finansiellt institut betraktas av IRS som ett icke-deltagande finansiellt institut i enlighet med artikel 5.2 b i Avtalet.

2. Undantag från reglerna i samband med motsträviga kontohavare. Förenta staterna ska inte kräva att ett rapporteringsskyldigt svenskt finansiellt institut innehåller källskatt i enlighet med avsnitten 1471 eller 1472 i Förenta staternas skattelagstiftning Internal Revenue Code när det är fråga om ett konto som innehas av en motsträvig kontohavare (i enlighet med definitionen i avsnitt 1471 d 6 i Internal Revenue Code) eller avslutar ett sådant konto, om den amerikanska behöriga myndigheten får tillgång till de uppgifter om kontot som anges i artikel 2.2 a i Avtalet, med förbehåll för bestämmelserna i artikel 3 i Avtalet.

3. Särskilda regler för svenska pensionsordningar. Förenta staterna ska behandla de svenska pensionsordningar som anges i bilaga II som utländska finansiella institut som bedöms efterleva FATCA-reglerna (deemed-compliant FFIs) eller undantagna faktiska innehavare (exempt beneficial owners), beroende på sammanhanget, med avseende på avsnitten 1471 och 1472 i Förenta staternas skattelagstiftning Internal Revenue Code. En svensk pensionsordning är i detta sammanhang en enhet som har etablerats eller är belägen i och regleras av Sverige, eller en på förhand fastställd kontraktsmässig eller juridisk konstruktion vars syfte är att tillhandahålla pensioner eller andra pensionsförmåner eller skapa inkomster för att kunna tillhandahålla sådana förmåner i enlighet med svensk lagstiftning och som regleras med avseende på inbetalningar, utbetalningar, rapportering, huvudmannaskap och beskattning.

4. Identifiering och behandling av andra enheter som anses utgöra finansiella institut som bedöms efterleva FATCA-reglerna (deemed-compliant FFIs) och undantagna faktiska innehavare (exempt beneficial owners). Förenta staterna ska behandla varje icke- rapporteringsskyldigt svenskt finansiellt institut som om det vore ett utländskt finansiellt institut som bedöms följa FATCA-reglerna (deemed- compliant FFI) eller en undantagen faktisk innehavare (exempt beneficial owner), beroende på sammanhanget, med avseende på avsnitt 1471 i Förenta staternas skattelagstiftning Internal Revenue Code.

5. Särskilda regler för närstående enheter och filialer som är icke-deltagande finansiella institut. Om ett svenskt finansiellt institut, som i övrigt uppfyller kraven i punkt 1 i denna artikel eller som omfattas av punkt 3 eller 4 i denna artikel, har en närstående enhet eller en filial som bedriver verksamhet inom en jurisdiktion som innebär att en sådan närstående enhet eller filial förhindras att uppfylla kraven för ett deltagande utländskt finansiellt institut (participating FFI) eller ett utländskt finansiellt institut som bedöms följa FATCA-reglerna (deemed- compliant FFI) enligt avsnitt 1471 i Förenta staternas skattelagstiftning Internal Revenue Code, eller har en närstående enhet eller filial som behandlas som ett icke deltagande finansiellt institut uteslutande med anledning av att tidsfristen för övergångsbestämmelsen för begränsade utländska finansiella institut (limited FFIs) och begränsade filialer (limited bransches) i enlighet med de relevanta amerikanska författningarna U.S. Treasury Regulations löper ut, ska ett sådant svenskt

SÖ 2015:7

SÖ 2015:7 finansiellt institut fortsatt anses uppfylla villkoren i Avtalet och fortsatt behandlas som ett utländskt finansiellt institut som bedöms följa FATCA-reglerna (deemed-compliant FFI) eller som undantagen faktisk innehavare (exempt beneficial owner), beroende på sammanhanget, med avseende på avsnitt 1471 i Internal Revenue Code, under förutsättning att

a) det svenska finansiella institutet behandlar varje sådan närstående enhet eller filial som ett separat icke- deltagande finansiellt institut med avseende på samtliga krav om rapportering och innehållande av källskatt som anges i Avtalet, och varje sådan närstående enhet eller filial inför källskattehandläggare identifierar sig som ett icke-deltagande finansiellt institut.

b) en sådan närstående enhet eller filial identifierar sina amerikanska konton och rapporterar in uppgifter med avseende på dessa konton i enlighet med kraven i avsnitt 1471 i Förenta staternas skattelagstiftning Internal Revenue Code, om detta medges enligt relevant lagstiftning som är tillämplig på den närstående enheten eller filialen, och

c) en sådan närstående enhet eller filial inte uttryckligen inriktar sig på amerikanska konton som innehas av personer som inte har sin hemvist inom den jurisdiktion där en sådan närstående enhet eller filial är belägen eller konton som förs av icke-deltagande finansiella institut som inte etablerats inom den jurisdiktion där en sådan närstående enhet eller filial är belägen, och en sådan närstående enhet eller filial inte används av det svenska finansiella institutet eller någon annan närstående enhet för att kringgå skyldigheterna i Avtalet eller i avsnitt 1471 i Förenta staternas skattelagstiftning Internal Revenue Code, beroende på sammanhanget.

6. Tidsmässig samordning. Oavsett vad som anges i punkterna 3 och 5 i artikel 3 i Avtalet gäller följande:

a) Sverige ska inte vara förpliktigat att inhämta och utbyta uppgifter med avseende på ett kalenderår som föregår det kalenderår med avseende på vilket motsvarande uppgifter ska rapporteras till IRS av deltagande utländska finansiella institut (participating FFIs) i enlighet med de relevanta amerikanska författningarna U.S. Treasury Regulations,

b) Sverige ska inte förpliktigas att inleda utbyte av uppgifter före det datum då deltagande utländska finansiella institut (participating FFIs) senast har att rapportera motsvarande uppgifter till

IRS i enlighet de relevanta amerikanska författningarna U.S. Treasury Regulations.

c) Förenta staterna ska inte vara förpliktigat att inhämta och vidarebefordra uppgifter med avseende på ett kalenderår som föregår det första kalenderår med avseende på vilket Sverige har att inhämta och utbyta uppgifter, och

d) Förenta staterna ska inte vara förpliktigat att inleda utbyte av uppgifter före det datum då Sverige senast har att inleda utbyte av uppgifter.

7. Samordning   av   definitioner   med   amerikansk skattelagstiftning. Oavsett vad som anges i artikel 1 i Avtalet och i definitionerna i bilagorna till Avtalet kan Sverige vid tillämpningen av Avtalet använda och tillåta svenska finansiella institut att i stället för en definition i Avtalet använda motsvarande definition i de relevanta amerikanska författningarna U.S. Treasury Regulations, under förutsättning att en sådan tillämpning inte motverkar Avtalets syften.

Artikel 5

Samarbete för att se till att Avtalet följs och tillämpas

1. Smärre och administrativa fel. En behörig myndighet ska underrätta den andra partens behöriga myndighet när den förstnämnda behöriga myndigheten har skäl att tro att administrativa fel eller andra smärre fel har begåtts som kan ha lett till att felaktiga eller ofullständiga uppgifter har rapporterats eller som har resulterat i andra överträdelser med avseende på Avtalet. Den behöriga myndigheten i den andra parten ska tillämpa sin inhemska lagstiftning (inklusive tillämpliga sanktioner) för att inhämta korrekt och/eller fullständig information eller för att avhjälpa överträdelserna med avseende på Avtalet.

2. Väsentlig överträdelse.

SÖ 2015:7

a) En behörig myndighet ska underrätta den andra partens behöriga myndighet när den förstnämnda behöriga myndigheten har fastställt att ett rapporteringsskyldigt finansiellt institut inom den andra jurisdiktionen begått en väsentlig överträdelse när det gäller skyldigheterna i Avtalet. Den behöriga myndigheten i den andra parten ska tillämpa sin inhemska lagstiftning (inklusive tillämpliga sanktioner) för att åtgärda den väsentliga överträdelse som beskrivs i underrättelsen.

b) Om, när det är fråga om ett rapporteringsskyldigt svenskt finansiellt institut, sådana överträdelseåtgärder inte leder till att överträdelsen upphör inom en tidsperiod om 18 månader efter att underrättelse om väsentlig överträdelse första gången gjorts ska Förenta

SÖ 2015:7 staterna betrakta det rapporteringsskyldiga svenska finansiella institutet som ett icke-deltagande finansiellt institut i enlighet med denna punkt 2 b.

3. Användning av tjänster från tredjepartsleverantör. Varje part kan tillåta att rapporteringsskyldiga finansiella institut använder sig av tjänster från tredjepartsleverantör för att uppfylla de skyldigheter som avses i Avtalet och som en part ålägger sådana rapporteringsskyldiga finansiella institut, men ansvaret för dessa skyldigheter ska fortfarande ligga hos de rapporteringsskyldiga finansiella instituten.

4. Åtgärder för att förhindra att bestämmelserna kringgås. Parterna ska vidta de åtgärder som behövs för att förhindra att finansiella institut använder sig av strategier som syftar till att kringgå den rapporteringsskyldighet som föreskrivs i Avtalet.

Artikel 6

Ömsesidigt åtagande för fortsatt ökad effektivitet när det gäller informationsutbytet och öppenheten

1. Ömsesidighet. Förenta staternas regering erkänner behovet av att likvärdiga nivåer uppnås för ett ömsesidigt automatiskt informationsutbyte med Sverige. Förenta staternas regering förbinder sig att ytterligare öka öppenheten och stärka informationsutbytet med Sverige genom att fortsätta anta bestämmelser och främja och stödja relevant lagstiftning så att nivåerna för ett ömsesidigt automatiskt informationsutbyte kan bli likvärdiga.

2. Transportbetalningar (passthru payments) och bruttoavkastning. Parterna åtar sig att tillsammans med varandra och med partnerjurisdiktioner ta fram en konkret och effektiv alternativ strategi för hur de politiska målen ska nås när det gäller innehållen källskatt på utländska transportbetalningar (passthru payments) och bruttoavkastning samtidigt som den administrativa bördan minimeras.

3. En gemensam modell för rapportering och utbyte av information. Parterna åtar sig att tillsammans med partnerjurisdiktioner, OECD och EU arbeta för att villkoren i Avtalet och andra avtal mellan Förenta staterna och partnerjurisdiktioner anpassas till en gemensam modell för automatiskt informationsutbyte, vari även ingår att utarbeta standarder för rapportering och kundkännedom (due diligence) för finansiella institut.

4. Dokumentation av konton per den 30 juni 2014. För rapporteringspliktiga konton som per den 30 juni 2014 förs av ett rapporteringsskyldigt finansiellt institut gäller följande:

a) Förenta staterna åtar sig att senast den 1 januari 2017 ha antagit bestämmelser för rapportering med avseende på 2017 och efterföljande år som föreskriver att

rapporteringsskyldiga amerikanska finansiella institut ska inhämta och vidarebefordra svenskt skatteregistreringsnummer för varje innehavare av ett svenskt rapporteringspliktigt konto i enlighet med artikel 2.2 b 1 i Avtalet, och

b) Sverige åtar sig att senast den 1 januari 2017 ha antagit bestämmelser för rapportering med avseende på 2017 och efterföljande år som föreskriver att rapporteringsskyldiga svenska finansiella institut ska inhämta amerikanskt skatteregistreringsnummer (TIN) för varje specificerad amerikansk person i enlighet med artikel 2.2 a 1 i Avtalet,

Artikel 7

Konsekvent tillämpning av FATCA på partnerjurisdiktioner

1. Sverige ska ha förmånen att kunna välja eventuella fördelaktigare villkor i artikel 4 i eller i bilaga I till Avtalet när det gäller tillämpningen av FATCA på svenska finansiella institut som tilldelats en annan partnerjurisdiktion i enlighet med ett undertecknat bilateralt avtal enligt vilket den andra partnerjurisdiktionen åtar sig att uppfylla samma skyldigheter som Sverige åtar sig i enlighet med artiklarna 2 och 3 i Avtalet och på samma villkor som anges där och i artiklarna 5–9 i Avtalet.

2. Förenta staterna ska underrätta Sverige om sådana eventuella fördelaktigare villkor, och sådana fördelaktigare villkor ska gälla automatiskt vid tillämpningen av Avtalet på samma sätt som om dessa villkor specificerades i Avtalet och ska börja gälla det datum då det avtal som omfattar dessa fördelaktigare villkor undertecknas, såvida inte Sverige skriftligen avstår från att tillämpa dessa villkor.

Artikel 8 Samråd och ändringar

1. Om problem med genomförandet av Xxxxxxx uppstår kan endera parten begära att samråd hålls så att lämpliga åtgärder kan vidtas för att säkerställa att Avtalet uppfylls.

2. Avtalet kan ändras efter skriftligt ömsesidigt samtycke från parterna. Såvida inte annat överenskommits ska en sådan ändring träda i kraft i enlighet med samma förfaranden som anges i artikel 10.1 i Avtalet.

Artikel 9 Bilagor

Bilagorna utgör en integrerad del av Avtalet.

SÖ 2015:7

SÖ 2015:7 Artikel 10

Avtalets giltighetstid

1. Avtalet träder i kraft det datum då Sverige skriftligen underrättar Förenta staterna om att Sverige har genomfört de interna åtgärder som krävs för att Avtalet ska träda i kraft.

2. Xxxxxx parten kan säga upp Avtalet genom att skriftligen underrätta den andra parten om detta. En sådan uppsägning ska börja gälla den första dagen i den månad som följer efter att 12 månader gått sedan underrättelsen om Avtalets uppsägning.

3. Före den 31 december 2016 ska parterna i god samarbetsanda samråda för att få till stånd de ändringar i Avtalet som krävs för att hänsyn ska kunna tas till de framsteg som gjorts när det gäller åtagandena under artikel 6 i Avtalet.

Till bekräftelse härav har undertecknade, vederbörligen bemyndigade av respektive regering, undertecknat detta avtal.

Utfärdat i Stockholm den 8 augusti 2014 i två exemplar på engelska.

FÖR SVERIGES REGERING

FÖR AMERIKAS FÖRENTA STATERS REGERING

Xxxxxx Xxxxxxxx Xxxxxx Xxxxxxxxx

BILAGA I

SKYLDIGHETER ATT VIDTA ÅTGÄRDER FÖR KUNDKÄNNEDOM (DUE DILIGENCE) FÖR ATT IDENTIFIERA OCH UTBYTA UPPLYSNINGAR OM RAPPORTERINGSPLIKTIGA KONTON OCH OM BETALNINGAR TILL VISSA ICKE-DELTAGANDE FINANSIELLA INSTITUT

I. Allmänt.

SÖ 2015:7

A. Sverige ska ålägga rapporteringsskyldiga svenska finansiella institut att vidta de åtgärder för kundkännedom som anges i denna bilaga I för att identifiera amerikanska rapporteringspliktiga konton och konton som innehas av icke- deltagande finansiella institut.

B. Vid tillämpningen av Avtalet gäller följande:

1. Alla belopp som anges i dollar avser belopp i US-dollar och ska anses inbegripa motsvarande belopp i andra valutor.

2. Såvida inte annat anges ska ett kontos saldo eller värde fastställas per den sista dagen ett kalenderår eller annan lämplig rapporteringsperiod.

3. När ett gränsbelopp för saldo eller värde ska fastställas per den 30 juni 2014 i enlighet med denna bilaga I ska relevant saldo eller värde fastställas per den dagen eller den sista dagen för den rapporteringsperiod som löper ut närmast före

den 30 juni 2014, och när ett gränsbelopp för saldo eller värde ska fastställas per den sista dagen ett kalenderår ska relevant saldo eller värde fastställas per den sista dagen för kalenderåret eller annan lämplig rapporteringsperiod.

4. Om inte annat följer av punkt E.1 i avsnitt II i denna bilaga I ska ett konto behandlas som ett amerikanskt rapporteringspliktigt konto från och med det datum det har identifierats som ett sådant i enlighet med förfarandena för kundkännedom i denna bilaga I.

5. Om inte annat föreskrivs ska uppgifter med avseende på ett amerikanskt rapporteringspliktigt konto rapporteras årligen under det kalenderår som följer på det år för vilket uppgifterna gäller.

SÖ 2015:7 C. Som ett alternativ till de förfaranden som beskrivs i vart och ett av avsnitten i denna bilaga I kan Sverige tillåta rapporteringsskyldiga svenska finansiella institut att använda sig av de förfaranden som beskrivs i de relevanta amerikanska författningarna U.S. Treasury Regulations för att bestämma om ett konto är ett amerikanskt rapporteringspliktigt konto eller ett konto som innehas av ett icke-deltagande finansiellt institut.

Sverige kan tillåta rapporteringsskyldiga svenska finansiella institut att göra ett sådant val separat för varje avsnitt i denna bilaga I antingen med avseende på alla relevanta finansiella konton eller, separat, med avseende på varje tydligt identifierad grupp av sådana konton (exempelvis efter typ av verksamhet eller var kontot finns).

II. Redan existerande personkonton. Nedanstående regler och förfaranden ska tillämpas för att identifiera amerikanska rapporteringspliktiga konton bland redan existerande konton som innehas av fysiska personer, (”redan existerande personkonton”).

A. Konton som inte behöver granskas, identifieras eller rapporteras. Såvida inte det rapporteringsskyldiga svenska finansiella institutet gör ett annat val, antingen med avseende på alla redan existerande personkonton eller, separat, med avseende på varje tydligt identifierad grupp av sådana konton, och genomförandebestämmelserna i Sverige medger ett sådant val, behöver följande redan existerande personkonton inte granskas, identifieras eller rapporteras som amerikanska rapporteringspliktiga konton:

1. Om inte annat följer av punkt E.2 i detta avsnitt: ett redan existerande personkonto med ett saldo eller värde som inte överstiger 50 000 dollar per den 30 juni 2014.

2. Om inte annat följer av punkt E.2 i detta avsnitt: ett redan existerande personkonto som är ett försäkringsavtal med kontantvärde eller ett livränteavtal med ett saldo eller värde som uppgår till högst 250 000 dollar per den 30 juni 2014.

3. Ett redan existerande personkonto som är ett försäkringsavtal med kontantvärde eller ett livränteavtal, under förutsättning att svenska eller amerikanska lagar eller regler i praktiken hindrar att sådana kontantvärdeförsäkringsavtal eller livränteavtal säljs till person med hemvist i Förenta staterna (t.ex. om det berörda finansiella institutet inte har registrerats i enlighet med amerikansk lagstiftning, och svensk lagstiftning kräver rapportering eller innehållande av

skatt med avseende på försäkringsprodukter som innehas av en person med hemvist i Sverige).

4. Ett inlåningskonto med ett saldo som uppgår till högst 50 000 dollar.

B. Förfaranden för granskning av redan existerande personkonton med ett saldo eller värde per den 30 juni 2014, som överstiger 50 000 dollar (250 000 dollar för ett försäkringsavtal med kontantvärde eller livränteavtal) men som inte överstiger 1 000 000 dollar (”lågvärdekonton”).

SÖ 2015:7

1. Sökning i elektroniska arkiv. Det rapporteringsskyldiga svenska finansiella institutet ska granska elektroniskt sökbara uppgifter som innehas av det rapporteringsskyldiga svenska finansiella institutet för att söka efter något av följande amerikanska indicier:

a) kontohavaren har identifierats som en person med amerikanskt medborgarskap eller med hemvist i Förenta staterna,

b) uppgifter som otvivelaktigt tyder på amerikansk födelseort,

c) aktuell post- eller bostadsadress är adress i Förenta staterna (inklusive box-adress i Förenta staterna),

d) aktuellt amerikanskt telefonnummer,

e) stående order finns om överföring av medel till konto i Förenta staterna,

f) giltig fullmakt eller underteckningsrätt finns för person med amerikansk adress, eller

g) en c/o- eller poste restante-adress (”hold mail” address) är den enda adress som det rapporteringsskyldiga svenska finansiella institutet har registrerad för kontohavaren; när det är fråga om ett redan existerande personkonto som är ett lågvärdekonto ska en c/o-adress utanför Förenta staterna eller en poste restante-adress inte anses utgöra ett amerikanskt indicium.

2. Om inget av de amerikanska indicier som anges i punkt B.1 i detta avsnitt upptäcks vid elektronisk sökning behöver inga ytterligare åtgärder

SÖ 2015:7 vidtas förrän förhållandena ändras på ett sådant sätt att ett eller flera amerikanska indicier kan kopplas till kontot eller om kontot övergår till att vara ett högvärdekonto i enlighet med punkt D i detta avsnitt.

3. Om något av de amerikanska indicier som anges i punkt B.1 i detta avsnitt upptäcks vid elektronisk sökning, eller om förhållandena ändras på ett sådant sätt att ett eller flera amerikanska indicier kan kopplas till kontot, ska det rapporteringsskyldiga svenska finansiella institutet behandla kontot som ett amerikanskt rapporteringspliktigt konto, såvida inte enheten väljer att tillämpa punkt B.4 i detta avsnitt och ett av de undantag som anges i den punkten föreligger med avseende på detta konto.

4. Även om amerikanska indicier i enlighet med punkt B.1 i detta avsnitt upptäcks behöver ett rapporteringsskyldigt svenskt finansiellt institut inte behandla ett konto som ett amerikanskt rapporteringsskyldigt konto i följande fall:

a) Om uppgifterna om kontohavaren otvivelaktigt tyder på en amerikansk födelseort och det rapporteringsskyldiga svenska finansiella institutet inhämtar, eller tidigare har granskat och arkivför, dokumentation i form av

(1) ett intygande där kontohavaren intygar att denne varken är medborgare eller har sin skattemässiga hemvist i Förenta staterna (dokumentet kan utgöras av ett W-8-formulär från IRS eller annan överenskommen typ av dokument),

(2) ett icke-amerikanskt pass eller annan av myndighet utställd identifikationshandling som visar att kontohavaren innehar medborgarskap eller nationalitet i ett land annat än Förenta staterna, och

(3) en kopia på kontohavarens intyg om förlorat amerikanskt medborgarskap eller en rimlig förklaring till

(a) varför kontohavaren inte har ett sådant intyg trots att denne avsagt sig sitt amerikanska medborgarskap, eller

(b) varför kontohavaren inte blev amerikansk medborgare vid födseln.

b) Om uppgifterna om kontohavaren innehåller en aktuell amerikansk post- eller bostadsadress, eller ett eller flera amerikanska telefonnummer som är de enda telefonnummer som finns kopplade till kontot, och det rapporteringsskyldiga svenska finansiella institutet inhämtar eller tidigare har granskat och arkivför dokumentation i form av

(1) ett intygande där kontohavaren intygar att denne varken är medborgare eller har sin skattemässiga hemvist i Förenta staterna (dokumentet kan utgöras av ett W-8-formulär från IRS eller annan överenskommen typ av dokument), och

(2) styrkande dokumentation, i enlighet med punkt D i avsnitt VI i denna bilaga I, som styrker kontohavarens icke- amerikanska status.

c) Om uppgifterna om kontohavaren innehåller stående order om överföring av medel till konto i Förenta staterna och det rapporteringsskyldiga svenska finansiella institutet inhämtar eller tidigare har granskat och arkivför dokumentation i form av

(1) ett intygande där kontohavaren intygar att denne varken är medborgare eller har sin skattemässiga hemvist i Förenta staterna (dokumentet kan utgöras av ett W-8-formulär från IRS eller annan överenskommen typ av dokument), eller

SÖ 2015:7

SÖ 2015:7 (2) styrkande

dokumentation, i enlighet med punkt D i avsnitt VI i denna bilaga I, som styrker kontohavarens icke- amerikanska status.

d) Om uppgifterna om kontohavaren innehåller en giltig fullmakt eller underteckningsrätt för en person som har en amerikansk adress, har en c/o- eller poste restante-adress som enda adress som fastställts för kontohavaren eller har ett eller flera amerikanska telefonnummer (om det även finns ett icke-amerikanskt telefonnummer kopplat till kontot), och det rapporteringsskyldiga svenska finansiella institutet inhämtar eller tidigare har granskat och arkivför dokumentation i form av

(1) ett intygande där kontohavaren intygar att denne varken är medborgare eller har sin skattemässiga hemvist i Förenta staterna (dokumentet kan utgöras av ett W-8-formulär från IRS eller annan överenskommen typ av dokument), eller

(2) styrkande dokumentation, i enlighet med punkt D i avsnitt VI i denna bilaga I, som styrker kontohavarens icke- amerikanska status.

C. Ytterligare förfaranden som ska tillämpas på redan existerande personkonton som är lågvärdekonton.

1. Granskningen av redan existerande personkonton som är lågvärdekonton för att söka efter amerikanska indicier ska ha slutförts senast den

30 juni 2016.

2. Om förhållandena ändrats med avseende på ett redan existerande personkonto som är ett lågvärdekonto på ett sådant sätt att ett eller flera sådana amerikanska indicier som anges i punkt B.1 i detta avsnitt kan kopplas till kontot ska det rapporteringsskyldiga svenska finansiella institutet behandla kontot som ett amerikanskt rapporteringspliktigt konto, såvida inte punkt B.4 i detta avsnitt är tillämplig.

SÖ 2015:7

3. Med undantag för inlåningskonton i enlighet med punkt A.4 i detta avsnitt ska ett redan existerande personkonto som har identifierats som ett amerikanskt rapporteringspliktigt konto i enlighet med detta avsnitt behandlas som ett amerikanskt rapporteringspliktigt konto under alla efterföljande år, såvida inte kontohavaren upphör att vara en specificerad amerikansk person.

D. Förstärkta förfaranden för granskning av redan existerande personkonton med ett saldo eller värde som överstiger 1 000 000 dollar per den 30 juni 2014, eller per den 31 december 2015 eller annat år därefter (”högvärdekonton”).

1. Sökning i elektroniska arkiv. Det rapporteringsskyldiga svenska finansiella institutet ska granska elektroniskt sökbara uppgifter som innehas av det rapporteringsskyldiga svenska finansiella institutet för att söka efter något av de amerikanska indicier som anges i punkt B.1 i detta avsnitt.

2. Sökning i pappersarkiv. Om det rapporteringsskyldiga svenska finansiella institutets elektroniskt sökbara databaser innehåller fält för och omfattar alla sådana uppgifter som anges i punkt D.3 i detta avsnitt behöver ingen ytterligare sökning i pappersarkiv göras. Om de elektroniska databaserna inte omfattar alla dessa uppgifter ska det rapporteringsskyldiga svenska finansiella institutet, när det är fråga om ett högvärdekonto, även granska gällande huvudkundregister och, om uppgifterna inte finns i gällande huvudkundregister, följande handlingar som har koppling till kontot och som det rapporteringsskyldiga svenska finansiella institutet har inhämtat under de senaste fem åren för att söka efter något av de amerikanska indicier som anges punkt B.1 i detta avsnitt:

a) den senast inhämtade styrkande dokumentationen med avseende på kontot,

b) det senaste kontoöppningsavtalet eller annan dokumentation när det gäller kontots öppnande,

c) den dokumentation som senast inhämtats av det rapporteringsskyldiga svenska finansiella institutet i enlighet med

SÖ 2015:7 AML/KYC-förfarandena eller i annat regleringssyfte,

d) gällande fullmakt eller underteckningsrättshandling, och

e) gällande stående order för överföring av xxxxx.

3. Undantag för de fall databaserna innehåller tillräckliga uppgifter. Ett rapporteringsskyldigt svenskt finansiellt institut behöver inte göra en sökning i pappersarkiv i enlighet med punkt D.2 i detta avsnitt om det rapporteringsskyldiga svenska finansiella institutets elektroniskt sökbara information omfattar följande:

a) kontohavarens nationalitet eller hemvist,

b) den hemvist- och postadress som vid den aktuella tidpunkten finns registrerad för kontohavaren hos det rapporteringsskyldiga svenska finansiella institutet,

c) eventuella telefonnummer som vid det aktuella tillfället finns registrerade för kontohavaren hos det rapporteringsskyldiga svenska finansiella institutet,

d) uppgifter om huruvida stående order finns för överföring av medel från kontot till ett annat konto (inklusive ett konto hos en annan filial till det rapporteringsskyldiga svenska finansiella institutet eller ett annat finansiellt institut),

e) uppgifter om huruvida en giltig c/o- eller poste restante-adress finns för kontohavaren, och

f) uppgifter om huruvida fullmakt eller underteckningsrätt finns för kontot.

4. Förfrågan hos kundansvarig om aktuella kunduppgifter. Förutom sådana sökningar i elektroniska arkiv och pappersarkiv som beskrivs ovan ska det rapporteringsskyldiga svenska finansiella institutet behandla varje högvärdekonto för vilket det finns en personlig bankman/kundansvarig (inklusive varje finansiellt konto som är aggregerat till ett sådant högvärdekonto) som ett amerikanskt

rapporteringspliktigt konto om den personlige bankmannen/kundansvarige har faktisk kännedom om att kontohavaren är en specificerad amerikansk person.

5. Konsekvenser av att amerikanska indicier upptäcks.

SÖ 2015:7

a) Om inget av de amerikanska indicier som anges i punkt B.1 i detta avsnitt upptäcks vid ett sådant förstärkt granskningsförfarande för högvärdekonton som beskrivs ovan, och om kontot inte har identifierats som ett konto som innehas av en specificerad amerikansk person i enlighet med punkt D.4 i detta avsnitt, behöver inga ytterligare åtgärder vidtas förrän förhållandena ändras på ett sådant sätt att ett eller flera amerikanska indicier kan kopplas till kontot.

b) Om något av de amerikanska indicier som anges i punkt B.1 i detta avsnitt fastställs vid ett sådant förstärkt granskningsförfarande för högvärdekonton som beskrivs ovan, eller om förhållandena ändras på ett sådant sätt att ett eller flera amerikanska indicier kan kopplas till kontot, ska det rapporteringsskyldiga svenska finansiella institutet behandla kontot som ett amerikanskt rapporteringspliktigt konto, såvida inte enheten väljer att tillämpa punkt B.4 i detta avsnitt och ett av de undantag som anges i den punkten föreligger med avseende på detta konto.

c) Med undantag för inlåningskonton i enlighet med punkt A.4 i detta avsnitt ska varje redan existerande personkonto som har identifierats som ett amerikanskt rapporteringspliktigt konto i enlighet med detta avsnitt behandlas som ett amerikanskt rapporteringspliktigt konto under alla efterföljande år, såvida inte kontohavaren upphör att vara en specificerad amerikansk person.

E. Ytterligare förfaranden som ska tillämpas på högvärdekonton.

1. Om ett redan existerande personkonto är ett högvärdekonto per den 30 juni 2014, ska det rapporteringsskyldiga svenska finansiella institutet