Closure of Party accounts

Creates accounts

Updates accounts

Closes accounts

the aggregate amount payable to any employee certificate holder or beneficiary does not exceed USD 1000000 or an equivalent amount denominated in the domestic currency of each Member State or Switzerland.

All further changes to the exercise of that option by a Member State or Switzerland shall be communicated in the same manner.

Aggregation of Individual Accounts.

The term Group Cash Value Insurance Contract means a Cash Value Insurance Contract that (i) provides coverage on individuals who are affiliated through an employer, trade association, labour union, or other association or group and (ii) charges a premium for each member of the group (or member of a class within the group) that is determined without regard to the individual health characteristics other than age, gender, and smoking habits of the member (or class of members) of the group.

The European Commission may coordinate the transmission of the communication from Member States to Monaco and the European Commission shall transmit the communication from Monaco to all Member States.

All further changes to the exercise of that option by a Member State or Monaco shall be communicated in the same manner.

the Group Cash Value Insurance Contract or Group Annuity Contract is issued to an employer and covers 25 or more employees certificate holders

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 subparagraph.

4.8 Third party accounts

C. If there is a change of circumstances with respect to a New Individual Account that causes the Reporting Financial Institution to know, or have reason to know, that the original self certification is incorrect or unreliable, the Reporting Financial Institution cannot rely on the original self certification and must obtain a valid self certification that establishes the residence(s) for tax purposes of the Account Holder.

The Contracting Parties declare that they expect that the constitutional requirements of Switzerland and the requirements of European Union law concerning entering into international agreements will be fulfilled in time to enable the Amending Protocol to enter into force on the first day of January 2017.

The term Group Annuity Contract means an Annuity Contract under which the obligees are individuals who are affiliated through an employer, trade association, labour union, or other association or group.

The Contracting Parties agree, regarding the implementation of Article 5 on Exchange of Information upon Request, that the commentary to Article 26 of the OECD Model Tax Convention on Income and on Capital should be a source of interpretation.

If the Reporting Financial Institution has in its records a current residence address for the individual Account Holder based on Documentary Evidence, the Reporting Financial Institution may treat the individual Account Holder as being a resident for tax purposes of the Member State or Liechtenstein or other jurisdiction in which the address is located for purposes of determining whether such individual Account Holder is a Reportable Person.

The term Group Cash Value Insurance Contract means a Cash Value Insurance Contract that (i) provides coverage on individuals who are affiliated through an employer, trade association, labour union, or other association or group and (ii) charges a premium for each member of the group (or member of a class within the group) that is determined without regard to the individual health characteristics other than age, gender, and smoking habits of the member (or class of members) of the group.

Where a Member State or San Marino allows New Account due diligence procedures to be used for Preexisting Accounts, the rules otherwise applicable to Preexisting Accounts continue to apply.

B. If the self certification establishes that the Account Holder is resident for tax purposes in a Reportable Jurisdiction, the Reporting Financial Institution must treat the account as a Reportable Account and the self certification must also include the Account Holder's TIN with respect to such Reportable Jurisdiction (subject to paragraph D of Section I) and date of birth.

SECTION V

the Group Cash Value Insurance Contract or Group Annuity Contract is issued to an employer and covers 25 or more employees certificate holders

DUE DILIGENCE FOR PREEXISTING ENTITY ACCOUNTS

A. Entity Accounts not required to be reviewed, identified or reported.

The term Group Cash Value Insurance Contract means a Cash Value Insurance Contract that (i) provides coverage on individuals who are affiliated through an employer, trade association, labour union, or other association or group and (ii) charges a premium for each member of the group (or member of a class within the group) that is determined without regard to the individual health characteristics other than age, gender, and smoking habits of the member (or class of members) of the group.

Self certification for New Entity Accounts

The following procedures apply for purposes of identifying Reportable Accounts among Pre existing Entity Accounts.

The term Group Annuity Contract means an Annuity Contract under which the obligees are individuals who are affiliated through an employer, trade association, labour union, or other association or group.

Residence of a Financial Institution

B. If the self certification establishes that the Account Holder is resident for tax purposes in a Reportable Jurisdiction, the Reporting Financial Institution must treat the account as a Reportable Account and the self certification must also include the Account Holder's TIN with respect to such Reportable Jurisdiction (subject to paragraph D of Section I) and date of birth.

the Group Cash Value Insurance Contract or Group Annuity Contract is issued to an employer and covers 25 or more employees certificate holders

With respect to Preexisting Entity Accounts described in paragraph B, only accounts that are held by one or more Entities that are Reportable Persons, or by Passive NFEs with one or more Controlling Persons who are Reportable Persons, shall be treated as Reportable Accounts.

C. Account Balance Aggregation and Currency Rules.

Operations of account

List of accounts

Party accounts

Non financial accounts by sector Non financial accounts by sector

Near water.

DUE DILIGENCE FOR NEW INDIVIDUAL ACCOUNTS

SECTION V

SECTION IV

B. If the self certification establishes that the Account Holder is resident for tax purposes in a Reportable Jurisdiction, the Reporting Financial Institution must treat the account as a Reportable Account and the self certification must also include the Account Holder's TIN with respect to such Reportable Jurisdiction (subject to paragraph D of Section I) and date of birth.

The following procedures apply for purposes of identifying Reportable Accounts among New Individual Accounts.

DUE DILIGENCE FOR PREEXISTING ENTITY ACCOUNTS