Common use of Determine Whether a Clause in Contracts

Determine Whether a. Financial Institution Is a Nonparticipating Financial Institution Payments to Which Are Subject to Aggregate Reporting Consistent with the Requirements of an FFI Agreement. a) Subject to subparagraph (b) of this paragraph, if the Account Holder is a Swiss Financial Institution or another Partner Jurisdiction Financial Institution, then no further review, identification, or reporting is required with respect to the account. b) A Swiss Financial Institution or other Partner Jurisdiction Financial Institution shall be treated as a Nonparticipating Financial Institution if it is identified as such as described in paragraph 2 of Article 11 of the Agreement. c) If the Account Holder is not a Swiss Financial Institution or other Partner Jurisdiction Financial Institution, then the Reporting Swiss Financial Institution must treat the entity as a Nonparticipating Financial Institution payments to which are reportable consistent with the requirements of an FFI Agreement, unless the Reporting Swiss Financial Institution: (1) Obtains a self-certification (which may be on an IRS Form W-8 or similar agreed form) from the entity that it is a certified deemed-compliant FFI, an exempt beneficial owner, or an excepted FFI, 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 entity’s FATCA identifying number on a published IRS FFI list.