Act Communication Of Belgian Financial Accounts By Financial Institutions Information And Spf Finances Within The Framework Of An Automatic Exchange Of Information At The International Level And For Tax Purposes (1)

Original Language Title: Loi réglant la communication des renseignements relatifs aux comptes financiers, par les institutions financières belges et le SPF Finances, dans le cadre d'un échange automatique de renseignements au niveau international et à des fins fiscales (1)

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Read the untranslated law here: http://www.ejustice.just.fgov.be/cgi/article_body.pl?numac=2015003461&caller=list&article_lang=F&row_id=100&numero=139&pub_date=2015-12-31&dt=LOI&language=fr&fr=f&choix1=ET&choix2=ET&fromtab=+moftxt&trier=publication&sql=dt+=+'LOI'&tri=pd+AS+RANK+

Posted the: 2015-12-31 Numac: 2015003461 SERVICE PUBLIC FÉDÉRAL FINANCES 16 December 2015. -Law governing the communication of information relating to financial accounts, by Belgian financial institutions and the SPF finance, as part of an automatic exchange of information at the international level and for tax purposes (1) PHILIPPE, King of the Belgians, to all, present and future, hi.
The House of representatives has adopted and we sanction the following: chapter I:. -Scope of application Article 1.
This Act regulates a matter referred to in article 74 of the Constitution.
S. 2. the law regulates the Belgian obligations of Financial Institutions and of the SPF finance with respect to information that must be communicated to a competent authority of another jurisdiction as part of an automatic exchange of information relating to financial accounts organized, in accordance with the 2014/107/EU Council directive of 9 December 2014 amending directive EU-16-2011 in what concerns the Exchange automatic and compulsory information in the tax field , the mutual Joint Convention OECD/Council of Europe of 25 January 1988 on administrative assistance in tax matters (hereinafter, the multilateral Convention), a bilateral double taxation in matters of taxes on income or a bilateral treaty on the exchange of tax information to improve compliance with tax obligations.
Chapter II. -Definitions art.
3. for the purposes of the Act, the terms and expressions contained therein are defined in Annexes I, II and III to the Act, which are an integral part of the Act.
S. 4. any term or phrase that is not defined in the Annexes has the meaning attributed to it the Belgian legislation at the time where the law is applied, any definition contained in the tax legislation overriding a definition contained in other legislation.
Chapter III. -Obligations for a financial reporting institution to disclose information on the reportable accounts and payments made to non-participating financial institutions s. 5 § 1. Reporting financial institution must communicate automatically to the Belgian competent authority following information concerning any reportable account opened with this institution.
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2. For each reportable account, each reporting financial institution shall communicate: (a) in the case of a natural person who is an account holder, the name, the address, the jurisdiction (s) of residence, the NIF (s), the date and place of birth of each person to be the subject of a declaration;
(b) in the case of an entity that is an account holder and a person to be the subject of a declaration, the name, the address, the jurisdiction (s) of residence and the NIF (s) of that entity;
(c) in the case of an entity that is an account holder and for which, after application of the obligations of diligence, set out in annex II with regard to the United States and in annex III in relation to another jurisdiction subject to declaration, it appears that one or more persons holding the control are to be the object of a declaration : i. the name, the address, the courts (s) residence and the NIF (s) of this entity, and ii. the name, address, the jurisdiction (s) of residence, the NIF (s) and the date and place of birth of each person to be the subject of a declaration;
(d) account number (IBAN format when it exists) or its functional equivalent in the absence of account number;
(e) the name and the ID (if any) of the reporting financial institution; When the United States is the jurisdiction subject to declaration, the GIIN (Global Intermediary Identification Number) number of the reporting institution;
(f) the balance or the value entered on the account (including, in the case of a contract of insurance with value of redemption or an annuity contract, the commuted value) at the end of the calendar year concerned or another proper reference period; If the account was closed in the year or the period in question, the closure of the account or, when the United States is the jurisdiction subject to notification, the last balance or the last value before the closure of the account.
(g) in the case of a securities account: i. the total gross amount of interest, the total amount of gross dividends and the total gross amount of other revenues generated by the assets held in the account, paid or credited on the account, or under the account, in the calendar year or a different reference period adequate when the reporting financial institution acted as custodian such interests dividends or other income on behalf of the account holder; and ii. the total gross proceeds from the sale, redemption or repayment of a financial asset paid or credited to the account of another period for which adequate reference or during the calendar year the reporting financial institution acted as custodian, broker, nominee or another representative of the account holder;
(h) in the case of a deposit account, the total amount of interest paid or credited to the account during the year or another proper reference period; and (i) in the case of an account that is not referred to in paragraphs 2 (g) or 2 (h), the total gross amount paid to the account holder or door to his credit, during the calendar year or another proper reference, which the reporting financial institution is the debtor, including the total amount of all payments to the owner during the calendar or another proper reference period year.
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3. The information mentioned in paragraph 2 (f) to (i) must indicate the currency in which each amount shall be communicated to the competent authority of Belgium. The balance or the value entered on the account must be provided in the currency in which the account is denominated. When the account is denominated in multiple currencies, the reporting financial institution may elect to defer the balance or the value entered on the account in one of the currencies in which the account is read and must indicate the chosen currency. Notwithstanding the foregoing, when the United States is the jurisdiction subject to notification, the balance or the value entered on the account may be disclosed in US dollars notwithstanding the currency in which the account is denominated. The currency in which the account is denominated are converted using the exchange rate on the last day of the calendar year or another proper reference period to which the information relates.
§ 4. Each is reporting financial institution pursuant to the obligations of diligence, described in annex II with regard to the United States and annex III in which concerns another jurisdiction subject to declaration, in order to communicate the information referred to in this section for any reportable account and exclude information that are for non-declarables accounts of their communications.
S.
6 § 1. Notwithstanding article 5, § 2, with regard to each reportable account which is a pre-existing account, the NIF must be disclosed only if it appears in the records of the reporting financial institution. Date of birth must be communicated only insofar as the reporting financial institution is, moreover, held under a provision any Belgian law, to obtain this information and to the extent where this information among data held by the reporting financial institution. However, a reporting financial institution is required to make reasonable efforts to procure the NIF and the date of birth on pre-existing accounts before the end of the second calendar year following the year during which these accounts have been identified as reportable accounts.
§ 2. Notwithstanding article 5, § 2, the NIF must not be disclosed if: (i) jurisdiction subject to declaration concerned has not delivered by NIF;
or if: (ii) the law of the jurisdiction concerned reporting does not impose the compendium of the NIF issued by it.
§ 3. Notwithstanding article 5, § 2, the place of birth should not be communicated, except to the extent where the reporting financial institution is, moreover, required, under a provision any Belgian law, to obtain this information and to the extent where this information among data held by the financial institution reporting and likely to be searched electronically.
S.
7 § 1. An account is considered a reportable account from the date on which it is identified as such in application of due diligence procedures set forth in annex II with regard to the United States and in annex III in relation to another jurisdiction subject to notification.
§ 2. The balance or the value of an account is its balance or its value the last day of the calendar year or another proper reference period.
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3. When a balance or a threshold of value shall be determined on the last day of a calendar year, the balance or the relevant value threshold must be determined on the last day of the reporting period that ends at the end of this calendar year or during that calendar year.
S. 8 § 1.
For the purposes of the obligations laid down in article 5, the amount and the qualification of payments made

in respect of a reportable account are determined in accordance with the principles of the Belgian tax law.
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2. The information covered by the Act are disclosed, for the years specified in articles 9 and 10, respectively with regard to the United States and the other States members of the Union European, and for the years specified by royal decree, with respect to every other jurisdiction subject to declaration, and all subsequent years, within six months following the end of the calendar year to which they relate. By way of derogation from this rule, with respect to the United States, relating to the period from July 1, 2014 to 31 December 2014 should be communicated 10 days after the publication of this Act in the Moniteur belge.
§ 3. Reporting financial institutions collect the information covered by the Act in the manner provided by law and shall endeavour to provide accurate and complete information. When the competent authority of another jurisdiction has reason to believe that administrative errors or other may have resulted in erroneous or incomplete information, the Belgian competent authority may require the reporting financial institution concerned to verify information and to provide information corrected or complete, within a period of one month from the third working day following the sending of the request This period may be extended for proper reasons. For the purposes of this paragraph, the term "business day" includes all days except Saturdays, Sundays and public holidays.
§ 4. Information shall be communicated electronically to the Belgian competent authority via the designated liaison service, to this end, within the FPS finance.
The link service communicates such information to the competent authority of Belgium.
S.
9 § 1. When the United States is the jurisdiction subject to declaration: (a) the information referred to in article 5, paragraph 2, (a) to (f) are provided with respect to the period from July 1, 2014 to December 31, 2014;
(b) the information referred to in article 5, § 2, (a) to (i), with the exception of gross product referred to in § 2, (g), (ii.), are provided with regard to the year 2015;
(c) the information referred to in article 5, paragraph 2, (a) to (i) are provided with regard to the year 2016 and subsequent years.
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2. Notwithstanding the § 1, if case of a reportable account kept by a financial institution reporting as of June 30, 2014, the reporting financial institution is required, for the years 2014 to 2016, communicate the NIF of a person to be the subject of a declaration only if the NIF appears in its files. If such is not the case the reporting financial institution gets and integrates the information exchanged the date of birth of the person concerned if such a date is contained in its records. From the year 2017 the obligation to obtain and integrate the information exchanged American NIF becomes unconditional.
§ 3. Notwithstanding the § 1 place of birth must not be notified when the United States is the jurisdiction subject to notification.
§ 4. When United States are subject to declaration jurisdiction, each reporting financial institution shall communicate for each of the years 2015 and 2016, each financial Institution name participant to which she makes them the payments and the total amount of these payments. Each reporting financial institution made application of the obligations of diligence, described in annex II of the Act in relation to the United States, in order to determine whether a financial institution is a non-participating financial institution.
§ 5. Notwithstanding the previous paragraphs, the obligation to disclose is postponed by royal decree at later dates where the Belgian competent authority or the authority competent American has not notified to the other competent authority that it has the certainty that the United States or Belgium, as the case may be, has set up the necessary infrastructure for efficient exchange and the appropriate safeguards to ensure that the information remain confidential and are only used for tax purposes.
S.
10. when the court reporting is another European Union Member State, information covered by the Act are shared for the first time with regard to the year 2016.
S.
11 § 1. The law ceases to apply, against one or more jurisdictions subject to declaration, from the first day of the month following the end of a period of 12 months following the date on which Belgium, or a jurisdiction subject to declaration, has notified in accordance with an administrative agreement, the end of its participation in this agreement or the end of its participation in this agreement against one or more jurisdictions subject to declaration specific , or Belgium, as the case may be. In such cases, all information submitted to the competent authority of Belgium in accordance with the law, with regard to the courts subject to declaration concerned, continue to be subject to the Act after the Act has ceased to apply in relation to any such jurisdictions.
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2. When the act ceases to apply to a court in accordance with paragraph 1, the end of its application will be with reference to publication in the Moniteur belge.
S. 12 § 1. Reporting financial institutions may rely on third-party providers to reporting and due diligence obligations provided by law but these obligations are still the domain of responsibility of reporting financial institutions.
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2. Reporting financial institutions verify the identity of the account holder by means of a conclusive document, which is taken a copy, on support paper or electronic. Copies of data identification and records, vouchers and documents of the reportable account transactions must be kept for seven years at least from January 1 of the calendar year following the year in which the account is closed.
§ 3. For natural persons, identification and verification of identity are name, first name, place and date of birth. Relevant information must also be collected, to the extent possible, concerning the address of identified persons. For legal persons, trusts, trusts and similar legal constructs, the identification and verification of identity are on the name, headquarters, directors and provisions regulating the power to bind the legal person, the trust, the trust or similar legal construction.
§ 4. Reporting financial institutions maintain computerized data banks that they have made available to the Belgian competent authority for seven years from 1 January of the calendar year following the calendar year during which they have communicated them to the competent authority. Databases are deleted upon expiry of this period.
§ 5. Belgian financial institutions have an obligation to communicate to the IRS, without moving, for their audit, all books and documents required to determine if they meet the declaration and diligence obligations laid down by law, records of analysis, programming and operating system as well as information carriers and all the data that they contain. Notwithstanding the powers conferred on the administration by any other legislation, the abovementioned investigations can be carried out, without prior notification, during the calendar year in which Belgian Financial Institutions must disclose to the Belgian competent authority and within a period of three years from January 1 of the calendar year following the calendar year in which such information must be communicated.
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6. Notwithstanding § 5, investigations may be carried out within a further period of four years when the IRS has evidence that a Belgian Financial Institution has not fulfilled the obligations declaration and diligence act with intent to defraud or deliberately harm or the competent authority of another jurisdiction has notified to the Belgian competent authority that it has reason to believe that incorrect or incomplete information has been communicated or a financial institution Belgian fails to comply with the obligations imposed on him as part of an automatic exchange of information relating to financial accounts.
Prior to investigations, the taxing authority must notify the financial institution concerned, in writing and in detail, fraud indicators which exist or the notification received from the competent authority of another jurisdiction as the case may be.
Chapter IV confidentiality and privacy privacy article 13 § 1. The treatment of the information covered by this Act is Act of 8 December 1992 on the protection of privacy with regard to the processing of personal data.
§ 2. For the purposes of the law of 8 December 1992, each reporting financial Institution and the SPF finance are considered as being "responsible for processing" of "personal data" as regards information

covered by this Act that relate to natural persons.
S. 14 § 1.
Each reporting financial institution informs each natural person concerned that personal data on it will be communicated to the competent authority of Belgium. This information includes: (a) the purposes of the communication of personal data;
(b) the recipient or recipients ultimate (s) of the personal data;
(c) the reportable accounts for which the personal data are communicated;
(d) the existence of a right to obtain, on request, specific data that will be or which was received concerning a reportable account and detailed rules for the exercise of this right;
(e) the existence of a right of rectification of personal data on it and the detailed rules for the exercise of this right.
§ 2. The reporting financial institution provides to the individual, the information referred to the § 1-no later than the day preceding the day where information covered by the Act are disclosed for the first time in the case.
§ 3. The information referred to the § 1 is also provided to an individual not later than the day preceding the day when information is being provided under the Act respecting a calendar in which year: (a) an or the individual personal data recipient is amended in relation to it;
(b) the list of reportable accounts for which the personal data are communicated is modified in the case;
(c) the individual is again a person to be the subject of a declaration after having ceased to be the object of a declaration for one or more calendar years.
§ 4. The practical arrangements for the right of rectification are defined by the reporting financial Institution in accordance with article 12 of the aforementioned law of 8 December 1992. If a request for correction reveals that incorrect data have been sent to the Belgian competent authority concerning a natural person, the reporting financial institution sends, following the procedure laid down in article 8, § 4, an additional file to this authority containing the corrected information relating to this individual.
§ 5. Each reporting financial institution shall promptly inform each natural person of any breach of security that is likely to affect the data protection personal the regarding and intervened during the processing of data carried out by the institution under the Act. It shall inform without delay the competent authority of Belgium this breach of security.
S. 15 § 1. The agents of the public administration which belongs to the Belgian competent authority remain in the performance of their duties when they communicate the information subject to the Act to the competent authority of another jurisdiction.
The provisions concerning professional secrecy of the agents of the SPF finance are applicable to any which said agents had knowledge in the treatment of the information covered by the Act.
§ 2. The provisions of the law of August 3, 2012, containing provisions relating to the processing of data personal by the SPF finance its missions apply to the treatment of such information, particularly section 9 relating to the right of access to data.
§ 3. The FPS finance maintains computerized databases communicated to the competent authority of another jurisdiction for seven years from 1 January of the calendar year following the calendar year during which they have been communicated to that authority. Databases are deleted upon expiry of this period.
§ 4. The Belgian competent authority shall notify without delay to the Secretariat of the body for coordination in the multilateral agreement and to the competent authority of a court which is not a party to the multilateral Convention any breach of security that is likely to affect the protection of personal data relating to a resident of that jurisdiction, or an American citizen in the case of the United States , and intervened during the processing of data carried out by reporting financial institution or by the SPF finance.
S. 16 § 1. The provisions of articles 21 and 22 of the Act of 8 December 1992 relative to the protection of privacy with regard to the processing of personal data, apply to transfers of information covered by the Act to a non-member of the European Union Court.
§ 2. Insofar as these transfers are part of a reciprocal exchange of information for tax purposes and condition the obtaining by the Belgium of comparable information to improve compliance with tax obligations to which are subject taxpayers subject to the tax in Belgium, these transfers are necessary for the safeguarding of public interest of the Belgium. To this extent, these transfers are made in accordance with article 22, § 1, paragraph 1, of the above-mentioned Act of 8 December 1992 when they are made to a court not a member of the European Union which is not considered as generally ensuring an adequate level of protection.
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3. Notwithstanding the other provisions of the Act, the application of the Act is postponed or suspended against a non-member of the Union Court European if it is established that this jurisdiction has not implemented an infrastructure that ensures that financial institutions established on its territory and its tax administration sufficiently inform residents of Belgium with respect to the information which will be communicated by that Court in an automatic information exchange financial accounts. The application of the Act is postponed or suspended by the King after a written notice sent by the Belgian competent authority the competent authority of the relevant jurisdiction. The postponement or suspension takes effect on the date of the publication of the royal decree in the Moniteur belge.
S. 17 § 1. The information transferred to a jurisdiction subject to declaration are subject to obligations of confidentiality and other protection measures provided for in the tax treaty that enables the automatic exchange of information between the Belgium and this Court and the administrative agreement which organises this Exchange, including provisions limiting the use of the information exchanged.
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2. However, notwithstanding the provisions of a treaty in tax matters, the Belgian competent authority:-may authorize, in General and on condition of reciprocity, a court to which the information is transferred to use as evidence in the criminal courts when these information contribute to the initiation of criminal proceedings for tax fraud;
-subject to the first indent, may authorize a court to which the information is transferred to use it for purposes other than the establishment or the collection of taxes referred to in the Treaty, procedures or proceedings concerning these taxes, the decisions on appeals related to these taxes or control of the foregoing; -may not authorize a court to which the information is transferred to a third jurisdiction.
Chapter V. - Sanctions art. 18 § 1. An administrative penalty of EUR 1,000 per reportable account in question is applicable to all Belgian financial institution who fails or refuses to automatically disclose information required by law in relation to one or more reportable accounts, communicating outside the deadline, which does not respect the terms and conditions prescribed for the disclosure of information, including the obligations of due diligence or who communicates false or incomplete information.
§ 2. An administrative penalty of 2,500 EUR is applicable to any Belgian financial institution for any other violation of the provisions of the Act, with the exception of infringements of the provisions of article 14 which are punished in accordance with the provisions of the law of 8 December 1992 relative to the protection of privacy with regard to the processing of personal data.
§ 3. The fines provided for in the preceding paragraphs shall not apply when an offence arises from circumstances beyond the control of the reporting financial institution.
§ 4. When an offence is committed with fraudulent intent or deliberately harm, the amount of the fine provided for in the preceding paragraphs is double.
§ 5. The administrative fines provided for by this section are established and recovered in accordance with the rules applicable to administrative fines referred to in article 445 of the 1992 income tax Code.
S. 19 § 1. Any offence referred to in article 18 that is committed with intent to defraud or deliberately harm, shall be punished in accordance with article 449 of the 1992 income tax Code.
§ 2. One who commits a false entries private or public, trade, or who will have made use of such false, to commit an offence referred to in article 18 shall be punished in accordance with article 450, paragraph 1, of the 1992 income tax Code.
§ 3. All the provisions of book I of the penal Code, including Chapter VII and article 85, shall apply to offences

referred to in this article. The additional decimated on criminal fines Act of March 5, 1952, is also applicable to these offences.
§ 4. The provisions of articles 458-463 of the 1992 income tax Code are applicable to the offences referred to in this article.
CHAPTER VI. -Miscellaneous art. 20. the Act comes into force:-10 days after its publication in the Moniteur belge, with regard to the information to the United States and those intended for another Member State of the European Union, and - on the date fixed by the King, with regard to information to every other jurisdiction subject to notification.
S. 21. the King is to change the reference to a provision of the Belgian law by Act where a modification of the provisions of the Belgian law on an identical object makes the invalid reference.
Promulgate this Act, order that it be under the seal of the State and published by le Moniteur.
Given in Brussels on 16 December 2015.
PHILIPPE by the King: the Minister of finance, J. VAN OVERTVELDT sealed with the seal of the State: the Minister of Justice, K. GARG _ Note (1) House of representatives (www.lachambre.be): Documents: 54-1448 annex I: Definitions A. DEFINITIONS General 1. "Directive" means the 2014/107/EU Council directive of 9 December 2014 amending directive EU-16-2011 with respect to automatic and mandatory information exchange in tax matters.
2. the term "administrative agreement" means any agreement which is concluded by the Belgian Government or the competent authority of Belgium with the Government or the competent authority of another State in accordance with a treaty between the Belgium and that other State and which provides for the obligation for the Belgium to communicate automatically the information indicated in section 5 of chapter III of this Act.
3. the "Belgian competent authority" means the federal Minister of finance or his authorized representative.
4. "competent authority of another jurisdiction" means the authority designated as such by the other jurisdiction or its authorized representative.
5. the term "financial institution" means any person pursuing an activity as: has) establishment managing deposits of securities;
(b) establishment of deposit;
(c) investment entity;
(d) particular insurance company.
6. "Belgian financial institution" means any institution financière resident in Belgium, excluding any branch of this financial institution located outside the territory of the Belgium, and any branch of a non-resident of the Belgium financial institution if this branch is established in Belgium.
7. "financial jurisdiction partner institution" means any institution financière resident in a jurisdiction partner, excluding any branch of such a financial institution located outside of a court partner, and any branch of a non-resident of a jurisdiction partner financial institution if this branch is established in this jurisdiction.
When the United States is the partner jurisdiction, the term includes any financial institution formed or registered in American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico or the Virgin Islands us.
8. the term "establishment managing deposits of securities" means any entity engaged in a substantial part of the activity to hold financial assets on behalf of third parties. This is the case if the gross revenues of the entity due to the holding of financial assets and related financial services is greater than or equal to 20% of the gross income of the entity during:-the period of three years ending on 31 December (or the last day of a fiscal year offset) preceding the year in which the calculation is performed or - the period of existence of the entity if it is less than three years.
9. the term "deposit establishment" means any entity that accepts deposits in the usual course of a banking activity or similar activities.
10. the term "investment entity" means any entity: has) which has as main one or more of the following operations in the name of or on behalf of a client or benefits: i. transactions on the the money market instruments (cheques, tickets, certificates of deposit, derivative financial instruments, etc.), the foreign exchange market, the instruments on currencies, interest rates and indices, securities or commodity futures markets;
II. individual or collective portfolio management; or (iii). other investment operations, administration or management of financial assets or money on behalf of third parties; or b) whose gross revenues come mainly from an activity of investment, reinvestment or negotiation of financial assets, if the entity is managed by another entity which is a deposit institution, an institution managing securities deposits, a special insurance company or investment described in subparagraph entity has) above.
(An entity is considered as carrying as main one or more of the activities described in subparagraph a) of the present paragraph 10 or gross income of an entity primarily come from activity of investment, reinvestment or negotiation of financial assets for the purposes of subparagraph b) of this paragraph 10 if the gross revenues of the entity resulting from corresponding activities are greater than or equal to 50% of its gross revenues during : - the period of three years ending on 31 December of the year preceding the year in which the calculation is performed; or - the period of existence of the entity if it is less than three years.
The expression "investment body" exclude an entity which is an EENF or an ENF active because it meets one of the criteria referred to in subparagraphs e) to h) paragraph 4, section B of part V of Schedule II and in sub-paragraphs d) g) paragraph 3, section D of part V of Schedule III.
This paragraph 10 is interpreted in accordance with the definition of 'financial institution' contained in the recommendations of the Group of financial action task (force FATF).
11. "financial asset" means a title (for example, representing a share of the capital in a company; a share, or a right of enjoyment in a partnership (partnership) with many partners or in a company limited by shares traded, a trust; another obligation or another title of debt), a stake, a commodity a swap contract (e.g. interest rate, currency, rate reference, contracts of guarantee rate ceilings and floor rate, swap contract goods, debts against assets, contracts on indices and similar agreements), a contract of insurance or a contract of annuity, or straight (including a futures contract or an OTC futures contract or an option) attached to a title a participation, a commodity, a swap contract, a contract of insurance or annuity contract. A direct interest in real estate without borrowing does not constitute a "financial asset".
12. the expression "particular insurance undertaking" means an insurance undertaking to (or the holding company of an insurance undertaking) which emits a contract of insurance with cash value or an annuity contract or who is required to make payments relating to this contract.
B. FINANCIAL REPORTING INSTITUTION AND FINANCIAL INSTITUTION NOT REPORTING 1.
"Reporting financial institution" means any Belgian financial institution that is not a non-reporting financial institution.
2. "non-reporting financial institution" means any Belgian financial institution that is: has) a public entity, an international organization or a Central Bank, except in relation to a payment resulting from an obligation held in connection with a commercial financial activity carried out by a particular insurance company, a facility for tabling, or managing securities deposits;
(b) a participatory pension fund; a close involvement pension fund; a Fund of pension of a public entity, an international organization or a Central Bank; a Fund of funds referred to in article 14516 of the 1992 income tax Code, established for the investment of funds through a collective savings account as part of a savings plan retirement with tax benefits; or an approved credit card issuer;
When the United States is the jurisdiction subject to declaration, the term "financial institution non-reporting"means in any case a pension fund established in Belgium and referred in article 3, subparagraph 1, k of the Convention between the Government of the United States of America and the Government of the Kingdom of Belgium for the avoidance of double taxation and fiscal evasion with respect to taxes on income signed November 27, 2006 When this Fund may benefit from the provisions of the convention in what concerns income it receives from the United States (or could benefit from these provisions if he perceived such revenues).
(c) any other entity which presents a low risk to be used for the purpose of tax evasion, which displays characteristics substantially similar to those of entities

described in sub-paragraphs a) and b) of paragraph 2 of this section B and which is defined as a financial institution non-reporting by the King;
(d) an undertaking for collective investment provided;
(e) a trust established under the laws of a jurisdiction subject to declaration insofar as the trustee of the trust is a financial institution reporting and communicates all information required under the Act all reportable accounts of the trust; or (f) when the United States is the jurisdiction subject to notification, a financial institution with a local clientele that meets the following requirements: i. the financial institution must be licensed and regulated as an institution under the Belgian legislation.
II. the financial institution should not have a fixed place of business outside the Belgian territory. To this end, a fixed place of business does not include a location which is not reported to the public and from which the financial institution exclusively exercises a role of administrative support;
III. the financial institution should not solicit clients or account outside the Belgian territory holders. To this end, a financial institution shall not be deemed soliciting clients or for account holders outside the Belgian territory on the simple grounds that financial institution:-operates a Web site, provided that the website does not expressly indicate that the financial institution provides accounts or the financial services to non-residents, and does not target nor shall not solicit another way of clients or account holders Americans , or -does advertising in the written press, or on a radio or television station, and that this media is distributed or broadcast mainly in Belgium but also incidentally in other countries, provided that such advertising does not expressly indicate that the financial institution provides accounts or financial services to non-residents, and not target not not solicit another way to U.S. customers or US account holders;
IV. the financial institution is required, in accordance with Belgian legislation, to identify account holders residents to provide information, to perform a withholding of tax for financial accounts held by residents of the Belgium or fulfilling procedures to identify customers and to combat money laundering (AML/KYC);
v. at least 98% of the value of the financial accounts managed by the financial institution must be owned by residents (including residents who are entities) of the Belgium or of a Member State of the European Union;
VI. from 1 July 2014 at the latest, or the date on which it becomes a non-declarante financial institution, the financial institution must have rules and procedures consistent with those set out in annex I of the FATCA agreement between the Government of the Kingdom of Belgium and the Government of United States of America, for l ' prevent and hold a financial non-participating financial institution account to check whether it opens or maintains an account for a person to be the object of a statement which is not resident in Belgium (including a U.S. person who was a Belgian resident at the opening of the financial account, but who then lost this quality) or for a passive EENF including the persons controlling are residents of the United States or U.S. citizens who are not residents of the Belgium;
VII. these rules and procedures shall provide that in the case of identification of a financial account held by a person to be the subject of a declaration, which is not a resident of the Belgium, or by a passive EENF, whose control is held by residents or U.S. citizens, who are not residents of the Belgium, the financial institution must declare this financial account as if the financial institution were a reporting financial institution (including following registration obligations applicable on the website of the IRS FATCA) or close it.
VIII. any pre-existing account held by a natural person who is not a resident of Belgium or by an entity shall be examined by the said financial institution in accordance with the procedures set out in annex II and for pre-existing accounts, in order to identify any reportable account held by a financial institution not participating. If such an account is found, the financial institution must declare it as if it were a reporting financial institution (including by following the registration requirements on the website of the IRS FATCA) or close it;
IX. any entity related to the financial institution that is a financial institution must be incorporated or governed under Belgian law and, with the exception of pension funds described in sub-paragraph b), paragraph 2 of this section B, meet the criteria specified in this sub-paragraph f); and x. the financial institution should not have policies or discriminatory practices with regard to the opening or the conservation of financial accounts for individuals who are persons to be the subject of a declaration and are resident in the Belgium; or g) when the United States is the Court subject to notification, a local bank which meets the following requirements: i. the financial institution exercises only quality of (and is licensed and regulated under the laws of Belgium as):-Bank, or - cash credit or similar credit cooperative organization operated not for profit;
II. the activities of the financial institution is primarily to receive deposits from and loans to:-with regard to a Bank, "individual" customers, and - with respect to a credit union or a similar cooperative credit society, members, provided that no Member has a greater than 5% stake in this crate credit or cooperative credit society;
III. the financial institution meets the requirements set out in subparagraph f), points ii and iii of this paragraph 2, on condition that, in addition to limitations on the website described in subparagraph f), point iii, this website does not allow opening a financial account;
IV. the financial institution has not more than 175 million US dollars to its balance sheet, and the financial institution and its related entities, taken as a whole, have no more than 500 million US dollars in total assets from their balance sheets consolidated or combined;
and v. any related entity must be incorporated or registered in Belgium, and any related entity that is a financial institution, with the exception of a related entity which is a participatory pension fund, a pension fund to close involvement, a defined pension fund, regards Belgium, in article 3, subparagraph 1, k) of the Convention between the Belgium and the United States for the avoidance of double taxation and prevent fiscal evasion in ((material of taxes on income for November 27, 2006 or a Belgian savings fund such as described in subparagraph (b)), items (i) and (ii) of this paragraph 2, or a financial institution with only accounts to low value as described in subparagraph h) of this paragraph 2, shall meet the requirements set out in this sub-paragraph g);
(h) when the United States is the jurisdiction subject to notification, a Belgian financial institution with accounts only to low value that meets the following requirements: i. the financial institution is not an investment entity;
II. no financial account managed by a financial institution or a related entity presents a balance or a value greater than 50,000 US dollars, according to the rules set out in annex II for the consolidation of the account and the currency conversion; and iii. assets on the balance sheet of the financial institution does exceed not 50 million US dollars and the total assets on the balance sheet consolidated or combined financial institution and related entities, taken together, does exceed not 50 million US j) when the United States is subject to notification, a Belgian financial institution that is an investment entity sponsored defined to the point i hereinafter or a sponsored controlled foreign corporation defined in paragraph ii below with a consistent sponsorship entity to the requirements of point iii below: i. a financial institution is an investment entity sponsored if:-it is an investment entity established in Belgium who is not an authorized intermediary (qualified intermediary), a foreign partnership withholding (withholding foreign partnership) or a foreign trust carries out withholding (withholding foreign trust) according to the relevant provisions of the United States Treasury and - an entity has agreed with her to act for it as an entity sponsor;
II. a financial institution is a controlled foreign corporation if sponsored, – the financial institution is a controlled foreign corporation incorporated under Belgian and legislation which is not an authorized intermediary, foreign partnership withholding or a foreign trust making the deduction according to the provisions of the Treasury Regulations of United States, – the financial institution belongs in whole directly or indirectly,

a financial institution reporting American who agrees to act, or requiring a subsidiary of the institution that it acts as a sponsor for the financial institution entity, and - the financial institution shares a system of electronic joint account with the entity sponsoring, which allows the latter to identify all account holders and beneficiaries of the financial institution and have access to all information relating to the accounts and clients required by the financial institution including, inter alia, information for the identification of clients, the records of customers, account balances and all payments made for the benefit of the account holder or the beneficiary;
III. entity sponsor meets the following criteria:-the sponsor entity is authorized to act on behalf of the financial institution (for example, as administrator of Fund, trustee, administrator or partner) in order to fulfil the applicable registration requirements on the website of the IRS for the record pertaining to the Act FATCA.
-It is recorded as the entity sponsoring with the IRS on the Web site of the IRS for the record pertaining the FATCA law;
-If it identifies US reportable accounts tied to the financial institution, it saves the financial institution on the website of the IRS for the record pertaining to act FATCA no later than 31 December 2015, whichever is later, 90 days after the date at which a such American reportable account is initially identified;
-the sponsor entity agrees to fulfil on behalf of the financial institution, all obligations of diligence, withholding, reporting and other procedures that the financial institution would be required to perform if it was a reporting financial institution.
-It indicates the name and the identification of the financial institution number (obtained by complying with the applicable registration requirements listed on the website of the IRS for the record pertaining the FATCA law) in all documents filled out on behalf of the financial institution; and - sponsor status has not been revoked;
(j) when the United States is the jurisdiction subject to notification, a Belgian financial institution that is a mechanism of mutual fund shareholders sponsored meet the following requirements: i. the financial institution is a financial institution for the sole reason that it is an entity of investment and that it is not an authorized intermediary, foreign partnership withholding or a foreign trust making the deduction according to the applicable provisions of U.S. Treasury Regulations;
II. the sponsor entity is a financial reporting American institution, a reporting IFE from model 1 or a participating Wei, it is authorized to act on behalf of the institution financial (for example as a professional Manager, trustee or managing partner), and undertakes to carry out, on behalf of the financial institution, all the due diligence procedures, of withholding, reporting and other procedures that the financial institution would have been obliged to do if she had been reporting financial institution.
III. the financial institution does not itself as a placement for parties not related;
IV. 20 persons maximum hold all titles of debt and equity of the financial institution (not considering debt held by participating IFE and of Wei deemed conforming or ownership interests held by an entity if it holds 100 percent of equity in the financial institution and is itself a sponsored financial institution described in this sub-paragraph j); and v. the entity sponsor meets the following requirements:-it is registered as entity sponsor with the IRS on the web site of the IRS for the record pertaining to the Act FATCA.
-agrees to perform all due diligence obligations on behalf of the financial institution, for withholding, reporting and other obligations that you would be required to complete if she was a Belgian reporting financial institution, and it preserves the documents collected in relation to the financial institution for a period of six years;
-It indicates the name of the financial institution in all documents filled on behalf of; and - sponsor status has not been revoked;
(k) when the United States is the jurisdiction subject to declaration, an entity of investment established in Belgium who is a financial institution only because:-it provides investment advice, and acts on behalf of, or -it manages portfolios for, and acts on behalf of a client for the purpose of investment, management or administration of funds on behalf of the client with one financial institution other than a non-participating financial institution.
3. the term "public entity" means the Government of a jurisdiction, a subdivision political jurisdiction or any institution or organization owned entirely by these entities. This category includes integral parts and controlled entities of a court. It covers in particular the Belgian Government, political subdivisions of the Belgium (including the State, communities, Regions, provinces, administrative districts and municipalities) and any institution or organization owned entirely by these entities: has) an 'integral part' means any person, organization, agency, office, Fund, legal person or other body, regardless of its designation, which is a ruling authority of the Court. The net income of the ruling authority must be credited to his own account or other accounts of the Court, and no portion of this income may accrue to a private person. An integral part excludes any person who is a leader, Manager or administrator acting as private or personal.
(b) a 'controlled entity' means an entity's separate form or which is a legally separate entity, provided that: i. the entity is owned and controlled entirely by one or several public entities, directly or through one or more controlled entities;
II. net income of the entity is credited to his own account or the accounts of one or several public bodies, and no portion of this income may accrue to a private person; and iii. the assets of the entity back to one or more public bodies at its dissolution.
(c) income shall not accrue to private persons if these people are the beneficiaries of a public program, and if the activities covered by this programme are performed for the public in the general interest or relate to the administration of part of the Government. Notwithstanding the foregoing, income is considered as perceived by private individuals if it comes from the use of a public entity to engage in commercial activity, such as banking services business, which provides financial services to private individuals.
4. the term 'international organization' means any establishment or an international organization or Agency fully held by this organization. This category includes any intergovernmental organization (including a supranational organisation): a) which consists mainly of Governments;
b) which concluded a headquarters agreement or a substantially similar agreement with the Belgium; and (c) whose income accrues not to private individuals.
5. "Central Bank" means the National Bank of Belgium.
6. "participatory pension fund" means a fund established to provide retirement, disability or death benefits, or a combination of them, to beneficiaries who are current employees or former employees (or persons designated by these employees) of one or more employers in return for services rendered, as this Fund (: a) is not characterized by the existence of a single beneficiary holding an interest in more than 5% of the assets of the Fund;
(b) is subject to the public and communicates information to the tax authorities; and (c) meets at least one of the following requirements: i. the Fund is generally exempt from tax on the investment income or the taxation of such income is deferred or reduced, under its Statute of retirement or pension plan;
II. the Fund receives at least 50% of the total of his contributions (except transfers of assets from other plans referred to in paragraphs 6 to 8 of this section B or accounts retirement and pension described in subparagraph a) of paragraph 15 of section C of the employers who finance it.
III. payments or withdrawals from the Fund are only permitted where occur events planned in connection with retirement, disability or death (with the exception of transfers to other pension funds referred to in paragraphs 6 to 8 of this section B or retirement and pension accounts described in subparagraph a), paragraph 15 of section C or that penalties apply to payments or withdrawals made prior to the occurrence of these events; or iv. contributions (with the exception of certain authorized contributions) employees to the Fund are limited by reference to the activity of the employee income or may not exceed US $ 50,000 per year, by applying the

rules for the aggregation of balances and currency conversion contained in section C of part V of Schedule II in relation to the United States and in section E of part V of annex III in relation to other jurisdictions subject to declaration.
Notwithstanding the above, the expression "pension funds in broad participation" includes a pension fund established to provide benefits not only to recipients who are current employees or former employees (or people designated by the employees) but also to self-employed persons, provided that the Fund meets the other conditions set out above.
7. "close participation pension fund" means a fund established to provide retirement benefits, invalidity or death to beneficiaries who are current employees or former employees (or persons designated by these employees) of one or several employers in return for services rendered, provided that: has) Fund has less than 50 members;
(b) the Fund is financed by one or more employers who are not entities investment or passive NFTS (or the EENF passive when the United States is the jurisdiction subject to declaration);
c) employee and employer contributions to the Fund (with the exception of transfers of assets of retirement and pension accounts referred to in sub-paragraph a) of paragraph 15 of section C) are limited by reference respectively to the income from activity and remuneration of the employee;
(d) the members who are not residents of the jurisdiction where the Fund is established cannot hold more than 20% of the assets of the Fund; and (e)) the Fund is subject to the public and communicates information to the tax authorities.
8 'Fund pension of a public entity, an international organization or a Central Bank' means a fund established by a public entity, an international organization or a Central Bank to provide retirement, disability or death benefits to beneficiaries or members who are current employees or former employees (or persons designated by these employees) , or who are not current or former employees, employees if benefits paid to these beneficiaries or members are for personal services rendered to the public entity, the international organization and the Central Bank.
9. "approved credit card issuer" means a financial institution that meets the following criteria: has) the financial institution has this status only because it is a credit card issuer that accepts deposits on the sole condition that a customer makes a payment exceeding the balance due to the title of the map and that this surplus is not immediately returned to the client. and (b)) no later than July 1, 2014, for what concerns the United States, January 1, 2016, with regard to another Member State of the European Union, and no later than on the date laid down by royal decree for other jurisdictions subject to declaration, the financial institution is implementing rules and procedures aimed at preventing a client to an overpayment greater than US $ 50,000 or an amount equivalent in EUR, or make any claim overpayment greater than this amount is refunded to the customer within a period of 60 days, by systematically applying the rules concerning aggregation of balances and currency conversion set out in section C of part V of Schedule II in relation to the United States and in section E of part V of annex III in relation to other jurisdictions subject to declaration. To this end, a customer's payment surplus excludes attributable to any disputed charges balances but includes balances resulting from merchandise returns.
10. the expression "exempt collective investment body" means an investment entity regulated as mutual fund, provided that participation in this organization are held wholly by or through one or several entities described in subsection 2 of this section B, or by individuals or entities that are not people to be the subject of a statement. This refers also to the undertakings for collective investment alternative to variable number of institutional shares a list is established on basis of article 3 of the Royal Decree of 7 December 2007 on undertakings for collective investment to variable number of institutional units which are exclusive designed the collective investment in the category of investments allowed in section 7 paragraph 1, 2 ° of the law of 20 July 2004.
Entity regulated as mutual fund investment does not escape the status of funds provided by the mere fact that the mutual fund has issued material bearer securities, provided that: a) the mutual fund has not delivered and emits no tracks material bearer after 31 December 2012 in relation to the United States 31 December 2015 in relation to another Member State of the European Union and after the date laid down by royal decree for other jurisdictions subject to declaration;
(b) an undertaking for collective investment removes all these titles during their assignment;
(c) the collective investment undertaking carries out due diligence procedures laid down in annex II in relation to the United States and by Annex III in relation to other jurisdictions subject to declaration and transmits all the information to be disclosed concerning these titles when they are presented for redemption or other payment; and (d)) the mutual fund has implemented rules and procedures which ensure that these securities are redeemed or immobilized as quickly as possible, and in any case before January 1, 2017, in relation to the United States before January 1, 2018, with regard to another Member State of the EU and before the date fixed by royal decree in relation to other jurisdictions subject to declaration.
C. ACCOUNT FINANCIAL 1.
The expression "financial account" means an account held with a financial institution and includes: a deposit account, a securities account and: a) in the case of an investment entity, any title of participation or claim filed with the financial institution. Notwithstanding the foregoing, the term "financial account" does not refer to a title of participation or claim filed with an entity which is an entity of the only investment because it i. gives investment advice to a client, and acts on behalf of this last, or ii. manages portfolios for a client, and acts on behalf of the latter, for the purpose to invest, manage or administer financial assets deposited on behalf of the client with one financial institution other than this entity;
(b) in the case of a Belgian financial institution not referred to in subparagraph) above, title participation or claim in this institution if the category of securities in question has been created in order to evade the obligations laid down by this Act; and (c)) any contract of insurance with cash value and any annuity contract held or managed by one Belgian financial institution other than a life annuity whose execution is immediate, which is non-transferable and not linked to an investment that is paid to a person physical and which corresponds to a pension or perceived as part of an invalidity pension account which is an excluded account.
For the purposes of sub paragraphs a) and b) of this paragraph 1, the expression "any title of participation or debt" does not cover titles that are regular traded on a stock exchange regulated market when the United States is the jurisdiction subject to notification. Considering that a title is the subject of "regular transactions" is there way continues, a significant volume of transactions involving these securities, and a "regulated market" means a market officially recognized and controlled by a governmental authority of the State in which it is located and which is negotiated annually a significant securities value. A stake in a financial institution is not the subject of regular transactions if the holder of this (other than a financial institution acting as an intermediary) participation is registered in the register of the securities of this financial institution.
The preceding sentence does not apply to entries previously registered on the register of registered securities of the financial institution before July 1, 2014, and with regard to listed investments in the same register from July 1, 2014, a financial institution is not obliged to apply the previous sentence before January 1, 2016.
For the purposes of sub paragraph (b)) of this paragraph 1, when the United States is the jurisdiction subject to declaration, the expression "financial account" covers any title of participation or debt obligations (other than securities that are the subject of regular transactions on a regulated stock market) in this institution only if:-the title of participation or debt is calculated directly or indirectly, primarily from assets which give rise to payments that have their source in the US and if - the category of

securities in question was created to evade the obligations laid down by law.
The term "financial account" includes any account which is an excluded account.
2. the term "deposit account" includes all commercial accounts, chequing, savings or term and accounts whose existence is attested by a certificate of deposit, a savings certificate, certificate of investment, debt or other similar instrument with a financial institution in the usual course of a banking or similar activity. Deposit accounts also include money held by insurance undertakings contractually guaranteed investment or a similar contract designed to pay interest or to the credit of the holder.
3. the expression "securities account" (conservative account) means an account (other than a contract of insurance or annuity contract) opened for the benefit of another person and which include one or more financial assets.
4. the expression "title of participation" means, in the case of a partnership that is a financial institution, any participation in the capital or the profits of this company.
In the case of a trust that is a financial institution, a "participation" is deemed held by anyone considered the grantor (settlor) or the beneficiary of all or part of the trust or by any other person finally exercising effective control over the trust.
A person should be the subject of a statement is considered to be the beneficiary of a trust if it has the right to benefit, directly or indirectly (through a nominee (nominee), for example) a mandatory or discretionary on the part of the trust distribution.
5. "contract of insurance" means a contract (other than an annuity contract) by which the insurer undertakes to pay a sum of money in case of a particular risk, including death, illness, accident, civil liability or damage.
6. the term "annuity contract" means a contract by which the insurer agrees to make payments for a certain period, which is determined in whole or in part by the life expectancy of one or several physical persons. This term includes also any contract considered an annuity contract by Act, the regulations or the practice of the jurisdiction in which this agreement has been established, and in which the insurer undertakes to make payments for several years.
7. 'insurance with cash value contract' means a contract of insurance (excluding a reinsurance contract concluded between two undertakings of insurance) that has a value of redemption.
For the purposes of this section C, when the United States is the jurisdiction subject to declaration, "contract of insurance with cash value" means only an insurance contract (excluding a reinsurance contract concluded between two insurance companies) which the commuted value exceeds $ 50,000 U.S. 8. "Commuted value" means the greater of the two following amounts:-the sum that the underwriter of the insurance contract is entitled to receive in the event of redemption or termination of the contract (calculated without deduction of any costs of acquisition or advances);
-the sum that the underwriter of the insurance contract can borrow under the contract or with respect to its subject.
Notwithstanding the foregoing, the term "redemption value" does not include an amount due under a contract of insurance:-only due to the death of a person insured under a contract of life insurance;
-in respect of compensation for bodily injury, illness or economic loss suffered upon the occurrence of a risk insured;
-in respect of the reimbursement to the Subscriber of a premium previously paid (minus the cost of expenses of insurance that they are imposed) under a contract of insurance (with the exception of a contract of life insurance or a related investment annuity contract) due to the cancellation or termination of the contract, a decrease in exposure to risk during the period in which the insurance contract is in force, or resulting from a new calculation of the premium made necessary by the correction of an error ledger entry or other similar error;
(- in respect of the participation in the profits of the underwriter of the insurance contract (with the exception of dividends paid upon termination of the contract) provided that it relates to a contract of insurance under which only benefits payable are those set out in sub-paragraph b) above; or – the title of the return of an advance premium or a deposit of premium for a contract of insurance which the premium is due at least once a year if the amount of the advance premium or premium deposit does not exceed the amount of the award-winning contract and due to the title of the following year.
Notwithstanding the foregoing, when the United States is the jurisdiction subject to declaration, the expression "cash surrender value" does not include an amount due under a contract of insurance under:-compensation for a personal injury, disease or suffered economic loss upon the occurrence of the insured risk; ""
-the refund to the Subscriber of a premium paid previously in the context of a contract of insurance (with the exception of a life insurance contract) due to the cancellation or termination of the contract, a decrease of exposure to risk during the period in which the insurance contract is in force or resulting from a new calculation of the premium made necessary by the correction of an error of ledger or other similar error; or - the participation in the outcome due to the underwriter of the insurance contract on the basis of the coverage of the risk of the contract or group of contracts concerned.
9. "pre-existing account" means: a) a financial account managed by a financial institution reporting June 30, 2014, with regard to the United States, to December 31, 2015, with regard to another Member State of the European Union and on the date laid down by royal decree for other jurisdictions subject to declaration.
(b) any financial account of an account holder, regardless of the date at which the financial account has been opened, if: i. account holder holds also within the reporting financial institution (or a related entity that is also a reporting financial institution) a financial account that is a pre-existing under subparagraph a) of this paragraph 9;
II. the reporting financial institution (and, if applicable, the related entity) considers the two aforementioned financial accounts, and all other financial accounts of the account holder that are regarded as pre-existing accounts in accordance with this sub-paragraph b), such as a financial account only for the purposes to comply with the rules laid down in annex II, in relation to the United States, and annex III in relation to other jurisdictions subject to declaration, for the purpose of recourse to the autocertifications, and for the purposes of determining the balance or the value of each of the financial accounts when the application of one of the accounting thresholds;
III. in relation to a financial account subject to the procedures to identify customers and to combat money laundering (AML/KYC), the reporting financial institution is authorised to apply for the financial account of the procedures to identify customers and to combat money laundering (AML/KYC) applied to the pre-existing account described in subparagraph a) of this paragraph 9;
IV. the opening of the financial account does not require the account holder providing new, additional or modified, 'customer' information for purposes other than those of the Act.
10. "new account" means a financial account opened with a financial institution reporting from July 1, 2014, for what concerns the United States, from 1 January 2016 for what concerns another Member State of the EU, and from the date laid down by arrêté royal for other jurisdictions subject to declaration, unless the financial account is treated as an account pre-existing in accordance with sub-paragraph b) of paragraph 9 of the present section v. 11. "Account of pre-existing physical person" refers to a pre-existing account held by one or more persons.
12. "new account of natural person" means a new account held by one or more persons.
13. the expression "account of pre-existing entity" means a pre-existing account held by one or more entities.
14. "entity new account" means a new account held by one or more entities.
15. "excluded account" means one or more of the following accounts: has) an account retirement or pension that meets the criteria under the Belgian laws: i. the account is regulated as a retirement account personal or part of a pension plan or of licensed or regulated pension that provides benefits of retirement or pension (including death or disability);
II. account enjoys a favourable tax treatment (payments which would normally be subject to tax under Belgian laws are deductible or excluded from the gross income of the account holder or are taxed at a rate

reduced, or the imposition of investment generated by the account income is deferred or investment income is taxed at a reduced rate).
III. account information must be sent at least once a year to the tax authorities;
IV. the withdrawals are possible only from the age fixed for the departure in retirement, disability or death occurred, or withdrawals made before such events are subject to penalties; and v. (i) annual contributions are limited to 50,000 USD or less (or the equivalent amount expressed in euros), or (ii) a maximum of $ 1,000,000 USD or less (or the equivalent amount expressed in euros) applies to the total of the contributions made over the life of the Subscriber, following each time the rules concerning aggregation of balances and currency conversion set out in section C of part V of Schedule II in relation to the United States and section E of part V of annex III in relation to other jurisdictions subject to declaration.
A financial account which, for the rest, meets the criteria set out in this sub-paragraph a) cannot be considered as no is satisfactory not only because it is likely to receive assets or funds transferred to one or several accounts which meet the requirements set out in subparagraph) or b) of this paragraph 15 or one or several pension funds or pension funds that meet the requirements set out in paragraphs 6 to 8 of section B. This category includes the following accounts:-work-related pensions subscribed by the employer or as self-employed as defined in or for the purposes of Belgian legislation:-Act of 28 April 2003 on supplementary pensions and the tax system and to certain additional social security benefits;
-the programme act of 24 December 2002 relating to supplementary pensions of the self-employed;
-Title 4 of the Act of 15 may 2014 on the provisions relating to the supplementary pension for business leaders;
-the coordinated law of 14 July 1994 on compulsory insurance health care and benefits;
-articles 43 to 61, 71 and 77 of the royal decree of 14 November 2003 on the activity of life assurance;
-articles 34, 52, 3 °, b, 52, 7 bis °, 59, 1451, 1 °, 1453-195 of the 1992 income tax Code.
All these work-related pensions are excluded, even if the above criteria under a) v. are not filled because these pensions are subject to equivalent criteria under Belgian laws.
-accounts of pension savings or contracts of life insurance for the application of articles 1451, 5 ° and 1458 to 14516 of the 1992 income tax Code;
-savings products in the long term for the application of articles 1451, 2 ° and 1454 of the 1992 income tax Code.
b) an account not related to retirement that meets the following criteria: i. the account is regulated as a medium of investment for purposes other than retirement and made regular on a regulated stock market traded, or is regulated as a medium for purposes other than retirement savings;
II. account enjoys a favourable tax treatment (payments that would normally be subject to the tax are deductible or excluded from the gross income of the account holder, or are taxed at a reduced rate, or the imposition of investment generated by the account income is deferred or investment income is taxed at a reduced rate);
III. withdrawals are conditioned to the respect of certain criteria related to the object of the investment or savings account (for example, education or medical benefits), or penalties apply to withdrawals until these criteria are fulfilled; and iv. annual dues are capped at 50,000 U.S. dollars or less (or the equivalent amount expressed in euros) by applying the rules for the aggregation of balances and currency conversion set out in section C of part V of Schedule II in relation to the United States and in section E of part V of annex III in relation to other jurisdictions subject to declaration.
A financial account which, for the rest, meets the criteria set out in this sub-paragraph b) cannot be considered as no is satisfactory not only because this financial account is likely to receive assets or funds transferred from one or several financial accounts that meet the requirements set out in subparagraph a) or b) of this paragraph 15 or one or several pension funds or pension funds that meet the requirements set out in paragraphs 6 8 section B. c) a contract of life insurance including coverage period ends before the insured person reaches the age of 90 years, provided that the contract meets the following requirements: i. periodic premiums, the amount remains constant over time, are due at least once per year over the life of the contract or until the insured reaches age 90 If this period is shorter;
II. it is not possible for anyone to receive the contractual benefits (by withdrawal, willing or otherwise) without terminating the contract;
III. (other than a benefit in case of death) amount payable upon cancellation or termination of the contract may not exceed the total of premiums paid for the contract, net of mortality, morbidity and operating costs (whether they are or not taxed) for the period or periods of existence of the contract and any amount paid before the cancellation or termination of the contract; and iv. the contract is not preserved by a transferee for consideration.
(d) an account which is held only by a succession if this account documentation includes a copy of the will of the deceased or the death certificate).
(e) an account opened in connection with one of the following: i. a decision or a judgment of a court;
II. the sale, Exchange or rental of a property or furnishings, provided that account meets the following requirements: (i) the account is funded solely by a deposit paid as a deposit in an amount sufficient to secure an obligation directly related to the transaction, or a similar payment, or is financed by a financial asset to the account in connection with the sale Exchange or lease of the property;
(ii) the account is opened and used only to secure the obligation to the purchaser to pay the purchase price of the property, the seller to pay all contingent liabilities, the landlord or the tenant to support any damage associated with the leased property under the provisions of the lease;
(iii) the assets of the account, including any income it generates, will be paid or paid to the purchaser, vendor, the landlord or tenant (including to cover its obligations) at the time of the sale, Exchange or disposition of the property, or upon expiry of the lease;
(iv) the account is not an account on margin or similar open in connection with a sale or exchange of a financial asset; and (v) the account is not associated with an account described in sub-paragraph f) of the present 15.
III. an obligation for a Belgian financial institution that manages a loan secured by real estate to reserve a portion of a payment only to later facilitate the payment of taxes or insurance premiums related to the real estate;
IV. an obligation for a Belgian financial institution to facilitate the subsequent payment of taxes.
f) a deposit account that satisfies the following requirements:-the account exists only because a customer makes a payment of an amount greater than the balance owing in respect of a credit card of an another revolving credit facility and the surplus is not immediately returned to the client.
and - no later than 1 January 2016 in relation to a Member State of the European Union or on the date provided for in royal decree with respect to another jurisdiction subject to notification, the financial institution is implementing rules and procedures aimed at preventing a client to an overpayment greater than 50,000 $ USD (or the equivalent amount expressed in euros) or to ensure that any payment in excess of more than This amount is refunded to the customer within a period of 60 days, by systematically applying rules concerning aggregation balances of accounts and currency conversion set out in section E of part V of annex III with regard to other jurisdictions subject to declaration. To this end, a customer's payment surplus excludes attributable to any disputed charges balances but includes balances resulting from merchandise returns.
Notwithstanding the foregoing, a deposit account referred to in this sub-paragraph f) is not, as such, excluded account when the United States is the jurisdiction subject to notification.
(g) the share register in accordance with article 357 of the Code of corporations, and the records of registered shares, the registered beneficiary shares and bonds registered, required in accordance with article 463 of the same Code.
(h) participation plans governed by the law of 22 May 2001 on the schemes of participation of workers in the capital and corporate profits.
i) stock options, such as subject to the Act of

26 March 1999 relating to the employment 1998 Belgian action plan and various provisions.
(j) when the United States is the jurisdiction subject to notification, a financial account retained in Belgium and excluded from the definition of financial in an agreement concluded between the United States and a court partner, provided that this account is subject in Belgium to the same requirements and the same oversight under the law of this jurisdiction partner if this account was established in the partner jurisdiction and kept by an institution of that Court partner; (or k) has any other account that presents a low risk to be used for the purpose of tax evasion, which displays characteristics substantially similar to those described in subparagraphs accounts) to f) of this paragraph 15 and which is defined by royal decree as the excluded account, in accordance with the objectives of the Act.
D. ACCOUNT DECLARABLE 1. "Reportable account" refers to a financial account that is opened with a Belgian financial institution and held by one or more persons to be the object of a declaration or by a passive ENF (or an EENF passive when the United States is the jurisdiction subject to declaration) which one or more persons holding the control are to be the subject of a declaration provided that they are identified as such according to the due diligence procedures referred to in annex II with regard to the United States and annex III with regard to other jurisdictions subject to declaration.
2. the expression "person to be the subject of a declaration" means a person of a jurisdiction subject to another declaration that: (i) any company whose securities are the subject of regular transactions on one or more regulated markets;
(ii) any company which is an entity associated with a corporation described in subparagraph (i);
(iii) a public entity;
(iv) an international organization;
(v) a Central Bank; or (vi) a financial institution.
Notwithstanding the foregoing, when the United States is the jurisdiction subject to declaration, the expression "person to be the subject of a declaration" means a US person who is not (i) a company whose securities are the subject of regular transactions on one or more regulated markets;
(ii) a company which is a member of the same group expanded to affiliates within the meaning of section 1471 (e) (2) of the Internal Revenue Code American, than a company referred to in (i) above;
(iii) the United States or any legal person governed by public law which is attached to them;
(iv) any State of the United States, any U.S. territory, any political subdivision thereof or any legal person governed by public law which is attached to them;
(v) any organization exempt from tax under section 501 (a) of the Internal Revenue Code American or any plan of personal pension as defined in section 7701 (a) (37) of the U.S. Internal Revenue Code.
(vi) any bank within the meaning of section 581 of the U.S. Internal Revenue Code;
(vii) any real estate investment fund within the meaning of section 856 of the U.S. Internal Revenue Code;
(viii) any investment company regulated within the meaning given to the term "regulated investment company" in article 851 of the U.S. Internal Revenue Code or any entity registered with the Securities Exchange Commission in accordance with the Investment Company Act of 1940 (15 U.S.C. 80); a-64
(ix) any funds of collective investment undertaking within the meaning of section 584 (a) of the U.S. Internal Revenue Code.
(x) a trust exempt from tax under section 664 (c) of the Internal Revenue Code American or described in section 4947 (a) (1) of the U.S. Internal Revenue Code.
(xi) any broker securities, goods or derivative financial instruments (including notional contracts, futures contracts and options) which is registered as such under U.S. federal law or the law of one of the Federated States;
(xii) any broker within the meaning of section 6045 (c) of the U.S. Internal Revenue Code.
(xiii) a trust exempt from tax pursuant to a device referred to in article 403 (b) or 457 (g) of the U.S. Internal Revenue Code.
The expression "person American" means a natural person who is a citizen or a U.S. resident, a partnership or a corporation created in the United States or under U.S. federal law or the Federated States, a trust if: (i) a court located in the United States would, under the law, the power to make orders or judgments on substantially all matters affecting the administration of the trust and (ii) a or several natural persons partnerships or corporations to be the object of a declaration shall enjoy a right of control on all substantial decisions of the trust, or estate of a deceased person who was a citizen or resident of the United States.
3 "person of a court reporting" means a natural person or an entity established in a jurisdiction subject to declaration under the taxation laws of that jurisdiction, or the estate of a deceased person who was resident in a jurisdiction subject to notification. To this end, an entity such as a partnership, a limited liability company or similar legal structure which is not resident for the purposes of tax legislation must be considered to be established in the jurisdiction where its seat of effective management.
4. the term 'jurisdiction' means a country or territory.
5. "court reporting" means another Member State of the European Union, the United States or any other jurisdiction with which the Belgium concluded an administrative agreement and contained in a published list.
6. 'jurisdiction partner', with a jurisdiction subject to notification, means: has) any Member State of the European Union;
or (b) any other jurisdiction i. with which the court reporting has reached an agreement that requires that another court to disclose the information referred to in paragraph 2 of article 4 of the Act, and (ii). contained in a list published by the Court subject to notification and notified to the European Commission;
(c) any other jurisdiction i. with which the European Union has reached an agreement that requires that another court to disclose the information referred to in paragraph 2 of article 4 of the Act, and ii. contained in a list published by the European Commission.
Notwithstanding the foregoing, the term 'jurisdiction partner', with regard to the United States, means a court which has actually agreed with the United States to facilitate the implementation of the Act FATCA (Foreign Account Tax Compliance Act) American and that figure in a list published by the Tax Administration.
7. "persons controlling" means natural persons who exercise control over an entity. In the case of a trust, this means the constituents (settlors), the trustees, the person monitoring the trustee (protectors) where appropriate, the beneficiaries or the categories of beneficiaries, and any other person finally exercising effective control over the trust and, in the case of a legal construct that is not a trust the term covers persons whose situation is equivalent or similar. The term "persons controlling" must be interpreted in accordance with the recommendations of the FATF.
E. MISCELLANEOUS 1. "Account holder" means the person registered or identified as the holder of a financial account by the financial institution managing the account.
One person, other than a financial institution, holding a financial account for the account or benefit of another person as agent, custodian, nominee signatory, Advisor placement or intermediary, is not considered to be holding the account for the purposes of the Act, and the person is regarded as holding the account. In the case of a contract of insurance with value of redemption or an annuity contract, account holder is any person authorized to take advantage of the commuted value or to change the name of the beneficiary of the contract. If no one can take advantage of the commuted value or change the name of the beneficiary, the account holder is the person designated as beneficiary in the contract and that has an absolute right to payments under the contract.
The term of a contract of insurance with a redemption or an annuity contract value, every person who is entitled to collect a sum under the contract is considered to be an account holder.
When the United States is the jurisdiction subject to notification, for the purposes of the second sentence of this paragraph 1, the term "financial institution" includes any financial institution incorporated or registered on the territory of American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico or the Virgin Islands us.
2. "procedures to identify customers and to combat money laundering (AML/KYC)" means the procedures of due diligence with respect to its customers that the reporting financial institution is required to comply with under the provisions

anti-money laundering or rules analogous to which this institution is subject in accordance with Belgian law (AML/KYC).
3. the term 'entity' means a legal person or a legal construct, such as a capital company, a partnership, a trust or a foundation.
4. an entity is a 'related entity' to another entity if - one of the two entities controls the other;
-the two entities are placed under a control joint; or - the two entities are entities of investment defined in sub-paragraph b) paragraph 10 of section A, are part of a common direction and this direction meets the diligence obligations these entities to investment. As such, the control includes the direct or indirect holding of more than 50% of the voting rights or of the value of an entity.
Notwithstanding the foregoing, when the United States is the jurisdiction subject to notification, the Belgium can consider that an entity is not an entity associated to another entity if the two entities are not members of the same group expanded affiliates within the meaning of section 1471 (e), (2) of the U.S. Internal Revenue Code.
5. the term "NIF" means the tax identification number of the Court subject to notification (or its functional equivalent in the absence of identification number tax).
6. when the United States is the jurisdiction subject to declaration, "non-participating financial institution" means a foreign financial institution ("IFE") non-participant within the meaning of the rules laid down by the Treasury of the United States, but excludes any Belgian financial institution and any financial institution by one court partner, other than a financial institution treated by the United States as a financial institution non-participant for which a significant breach of declaration or diligence obligations continues beyond a period of 18 months after the first notification of the American offence by the competent authority to the Belgian competent authority or the competent authority of a partner under United States jurisdiction.
7. when the United States is the jurisdiction subject to declaration, "IFE" reporting of model 1 refers to a financial institution with respect to which a non-U.S. Government or a legal person of public law thereof undertakes to obtain and exchange information in accordance with one model 1 IGA, other than a financial institution considered a non-participating financial institution under model 1 IGA.
For the purposes of this definition, the term model 1 IGA means an agreement reached between the United States or the Treasury Department and a government non-American, or a legal person of public law thereof, to implement the FATCA law United States through declarations made by financial institutions to non-U.S. Government or a corporation law of it followed by an automatic exchange with the IRS of the reported information.
8. when the United States is the jurisdiction subject to declaration, the participating "Wei" means a financial institution which has agreed to comply with the requirements of an IFE agreement including a financial institution described in model 2 IGA, which has agreed to comply with the requirements of an IFE agreement. The term participating IFE also includes an intermediate branch qualified American reporting financial institution, unless that branch is a reporting IFE from model 1. For the purposes of this definition, Wei agreement means an agreement which sets out the obligations to be completed by a financial institution to be considered as meeting the requirements of section 1471 (b) of the U.S. Internal Revenue Code. In addition, for the purposes of this definition, model 2 IGA refers to an agreement between the United States and the Department of the Treasury and a Government not American, or one or more legal persons governed by public law thereof, to facilitate the implementation of Act FATCA through statements made by financial institutions directly to the Administration tax American (IRS) in accordance with the requirements of an IFE agreement, in addition to an exchange of information between this non-U.S. Government or a legal person of public law of the latter and the IRS.
9. when the United States is the jurisdiction subject to declaration, notwithstanding the definitions contained in the present annex I, reporting financial institution can use a definition of relevant regulations enacted by the U.S. Treasury in lieu of a corresponding definition of this annex, provided that this use does not go against the purpose of this Act regulating the communication of information relating to financial accounts by Belgian financial institutions and SPF Finances within the framework of an automatic exchange of information at the international level and for tax purposes.

Annex II: Standard applicable when the United States is the jurisdiction subject to the declaration to the purposes of this Act, in place of the procedures described in each section of the present annex II diligence reporting financial institutions may apply the procedures contained in the corresponding regulation of the United States Treasury in order to determine whether an account is a reportable account or an account held by a non-participating financial institution. Reporting financial institutions may make this choice separately for each section of the present annex II, either with respect to all financial accounts concerned, or, separately, against a clearly identified group of accounts (for example by sectors of activity or in the matter of the location of the account).
Part I. Procedures of due diligence for physical persons accounts pre-existing the following procedures apply for the identification of reportable accounts among the accounts of natural persons pre-existing.
A. accounts not subject to examination, identification or declaration.
Except if the reporting financial institution decides otherwise, either with respect to all accounts of pre-existing individuals, separately, against a clearly identified group of accounts, it is not necessary to examine, identify and declare the following pre-existing physical persons accounts as reportable accounts: 1. subject to paragraph 2 of section E of this part I a natural person account pre-existing balance or the value does not exceed US $ 50,000 for June 30, 2014.
2. subject to paragraph 2 of section E of this part I, a natural person account pre-existing which is a contract of insurance with cash value or an annuity contract balance or value not exceeding US $ 250,000 to June 30, 2014.
3. an account of pre-existing natural persons that is a contract of insurance with cash value or an annuity contract insofar as the laws or regulations in force in Belgium or the United States opposes the sale of insurance contracts with value of redemption or annuity contracts to individuals who are residents of the United States (for example when the financial institution concerned lacks the registration required under U.S. law) (, and that Belgian legislation requires a declarative or a deduction at source for insurance products held by persons resident in Belgium).
4. a deposit account balance not exceeding $ 50,000 US. B.
Accounts of low value.
The following procedures apply to the accounts of pre-existing natural persons whose balance or the value at June 30, 2014 is $ 50,000 USD ($ 250,000 US for a contract of insurance with cash value or an annuity contract), but does not exceed $ 1,000,000 US ("low-value accounts") 1. Search electronically.
Reporting financial institution must examine the data that it holds and which may be the subject of research electronically to identify one or more of the following U.S. indices: a) identification of the holder of account such as citizen or U.S. resident.
(b) clear indication of a place of birth in the United States;
(c) postal address or current domicile in the United States (including a U.S. post office box);
(d) the United States current phone number;
(e) order of permanent transfer to an account managed in the United States;
(f) power of attorney or delegation of signature valid given to a person whose address is located in the United States; or g) address marked "to the attention of" or "poste restante" which is the unique address of the account holder listed in the folder of the Belgian reporting financial institution. In the case of a pre-existing individual account which is a low-value account, an address marked "to the attention of" located outside the United States or a "poste restante" address does not constitute a U.S. index.
2. If examination of the electronic data reveals no American indices which are listed in paragraph 1 of section B of this part I, no new action is required until a change of circumstances occurs and consequence that one or several American indices are associated with this account, or the account becomes an account of high value as described in section D of this part I.

3. If examination of per-see electronic data reveals one of the U.S. indices listed in paragraph 1 of section B of this part I, or if a change of circumstances occurs which results in one or more American indices associated with this account, the reporting financial institution shall consider the account as a reportable, unless she chooses to apply paragraph 4 of section B of this part I, one of exceptions that therein apply to this account.
4. Notwithstanding the discovery of American indices in accordance with paragraph 1 of section B of this part I, a financial institution reporting is not required to consider an account as a reportable account if: was) where the account holder information include unequivocal indication of a place of birth in the United States, the reporting financial institution gets, or has previously examined and retained , a copy of the following documents: i. a self-certification that account holder is neither a citizen nor a tax resident of the United States (based on the form W-8 of the IRS or another authorized similar form);
II. a non-U.S. passport or other identification issued by a public authority attesting that the nationality or citizenship of the account holder is not American; and iii. a copy of the certificate of loss of U.S. citizenship established for the account holder or the cause for which:-the account holder does not have such a certificate while he renounced U.S. citizenship, or - the account holder has not obtained American citizenship at birth.
(b) where information on the account holder includes a mailing address or current residence in the United States, or, like only numbers associated with the account, one or more phone numbers in the United States, the reporting financial institution gets, or has previously reviewed and maintained, a copy of the following documents: i. a self-certification that indicates that the account holder is neither citizen nor tax resident of the United States (based on the IRS Form W-8 or other form analogue approved); and ii. an exhibit referred to in section D of part V of the present annex II, which States that the account holder is neither a citizen nor a resident American.
(c) where the account holder information include an order of permanent transfer to an account managed in the United States, the reporting financial institution gets, or previously considered, and keeps a copy of the following documents: i. a self-certification that indicates that the account holder is neither a citizen nor a tax resident of the United States (based on the form W-8 of the IRS or another authorized similar form); and ii. an exhibit referred to in section D of part V of the present annex II, proving that the account holder is neither a citizen nor a resident American.
(d) where the account holder information include a proxy or a delegation of signature valid granted to a person whose address is in the United States, an address marked "to the attention of" or "poste restante" as the only address known to the account holder, or even one or more phone numbers in the United States (in addition to an associated account non-US phone number) , the Belgian reporting financial institution gets, or previously considered, and keeps a copy of the following documents: i. a self-certification that indicates that the account holder is neither a citizen nor a tax resident of the United States (based on the form W-8 of the IRS or another authorized similar form), or ii.
one-piece exhibit, referred to in section D of part V of the present annex II, proving that the account holder is neither a citizen nor a resident American.
C. Procedures additional applicable to the accounts of the persons physical preexisting which are low value accounts 1.
Review of pre-existing physical persons accounts which are low value accounts to search for American clues must be completed 30 June 2016 at the latest.
2 If a change of circumstances on account of low value occurs and to the fact that one or more of the American indices referred to in paragraph 1 of section B of this part I are associated with this account, the reporting financial institution shall consider the account as a reportable account, except where paragraph 4 of section B of this part I applies.
3. with the exception of the accounts referred to in paragraph 4 of section A of this part I, any account of a pre-existing individual who has been identified as a reportable pursuant to this part I account is considered as one account reportable all years, except if the account holder ceases to be a person to be the subject of a declaration.
D. Procedure for scrutiny for high value accounts following thorough examination procedures apply to accounts pre-existing individuals including the balance or the value exceeds $ 1,000,000 US to June 30, 2014, on December 31, 2015 or December 31 of any subsequent year ("high value accounts").
1. review of data by electronic means.
The reporting financial institution must examine the data it holds and can be the subject of research electronically to search the American indices described in paragraph 1 of section B of this part I. 2. Search in paper files.
If likely to be examined electronically the reporting financial institution databases contain fields containing all the information referred to in paragraph 3 of section D of this part I and allow to apprehend the content, no research in paper files is required. If these data do not contain all these information, the reporting financial institution is also required, for a high-value account, to review the current customer's main file and, insofar as this information does not, include the following documents associated with the account and obtained by the reporting financial institution Belgian during the previous five years to search one of the U.S. indices described in paragraph 1 of section B of this part I (: a) the exhibits collected most recently concerning the account;
(b) the most recent contract or document of the most recent account opening;
c) the most recent documentation obtained by the reporting financial institution in accordance with the procedures to identify customers and to fight against money laundering (AML/KYC) or for other legal reasons;
(d) any power of attorney or delegation of signature valid; and (e)) any permanent transfer valid order.
3 exception when the electronic databases contain sufficient information.
Reporting financial institution is not required to search through paper records described in paragraph 2 of section D of this part I if its likely to be examined electronically information include the following: a) the nationality or the country of residence of the account holder;
b) the home address and the mailing address of the account holder listed in the folder of the reporting financial institution;
(c) any telephone numbers of account holder contained (nt) in the folder of the Belgian reporting financial institution.
(d) any order of permanent transfer from the account to another account (including an account with another branch of the reporting financial institution or another financial institution);
(e) a possible address marked "to the attention of" or "poste restante" to the account holder; and (f) a possible proxy or delegation of signature on the account.
4 capture of information from the load of customer for a real knowledge of the account.
In addition to the research paper and computer records described above, the reporting financial institution is required to treat as a reportable account any account of high value entrusts a load of customers (including any accounts that are bundled with such a high-value account) If this load of customer knows that the account holder is a person should be the subject of a statement.
5. implications of the discovery of American indices) if the scrutiny of high-value accounts described above reveals no American indices listed in paragraph 1 of section B of this part I and if the application of paragraph 4 of section D of this part I does not establish that the account is held by a person to be the subject of a declaration , no new action is required until a change of circumstances occurs, which translates into one or more American indices associated with this account.
(b) if the consideration of high-value accounts described above reveals one of the U.S. indices listed in paragraph 1 of section B of this part I or in the event of subsequent changes of circumstances which leads to associate to the account one or more American indices, the reporting financial institution should consider the account as a reportable, unless she chooses to apply

paragraph 4 of section B of this part I and that one of the exceptions contained therein applies with regard to this account.
(c) with the exception of holding accounts referred to in paragraph 4 of section A of this part I, any account of a pre-existing physical person who has been identified as account reportable pursuant to this part I is deemed be a reportable U.S. account all years following, unless the account holder ceases to be a person to be the subject of a declaration.
E. Procedures additional applicable to high value accounts 1.
If, to June 30, 2014, a pre-existing account of a natural person is a high-value account, the reporting financial institution must apply to this account the in-depth review procedures described in section D of this part I 30 June 2015 at the latest. If, based on this review, this account is identified as a reportable account no later than December 31, 2014, the reporting financial institution shall provide the information required for the year 2014 in the first statement regarding the account and then on an annual basis. In the case of an account identified as a reportable account after December 31, 2014 and no later than 30 June 2015, the reporting financial institution does not have to provide information relating to this account for 2014, but must then supply information relating to this account on an annual basis.
2. If, to June 30, 2014, an account of a natural person pre-existing is not an account of high value but becomes the last day 2015 or in any subsequent calendar year, the reporting financial institution must undergo the examination described in section D of this part (I) in the six months following the last day of the year during which this account the account becomes an account of value
high. If, based on this review, it appears that this account is a reportable account, the reporting financial institution must provide the information required for this account for the year during which it is identified as a reportable account, as well as for future years on an annual basis, unless the account holder ceases to be a person to be the subject of a declaration.
3. after reporting financial institution has applied the procedures of examination described in section D of this part I to a high-value account, it is more required to renew these procedures for this same account the following years, with the exception of the capture of information from the load of customers described in paragraph 4 of section D of this part I. 4.
If a change in circumstances relating to a high-value account occurs and to the fact that one or more of the American indices referred to in paragraph 1 of section B of this part I are associated with this account, the reporting financial institution should consider the account as a reportable, unless she chooses to apply paragraph 4 of section B of the part and if one of the exceptions contained therein applies having regard to This account.
5. a reporting financial institution is required to implement procedures ensuring that loads of customers identify any change in circumstances in connection with an account. If, for example, a load of customer is informed that the account holder has to a new mailing address in the United States, the reporting financial institution should consider this new address as a change of circumstances and, if she chooses to apply paragraph 4 of section B of this part I, obtain the required documents to the account holder.
F. accounts of physical persons preexisting documents for other purposes.
A reporting financial institution which has already received an account holder with documents certifying that it is neither a citizen nor a U.S. resident to meet its obligations as a qualified intermediary, foreign partnership through withholding, or foreign trust through the withholding tax, or to fulfill its obligations under Chapter 61 of title 26 of the U.S. Code is not required to follow the procedures described in paragraph 1 of section B of this part I relating to the accounts of low value or paragraphs 1 to 3 of section D of this part I relating to high-value accounts.
Part II. Diligence procedures for new accounts of natural persons.
Following procedures and rules apply for identifying reportable accounts among financial accounts held by natural persons and open from July 1, 2014 ("new accounts of natural persons").
A. accounts not submitted a review, identification or declaration.
Except if the reporting financial institution decides otherwise, either on all new accounts people physical, or, separately, relative to a clearly identified group of such accounts, new accounts of following persons are not subject to examination, identification or declaration as a reportable accounts: 1. A deposit account, except if the balance of account is greater than 50,000 USD at the end of any calendar year or any other appropriate reference period.
2. a contract of insurance to commuted value, unless commuted value of more than US $ 50,000 at the end of any calendar year or any other period of proper reference.
B. other new accounts of natural persons.
Regarding new accounts of physical persons who are not referred to in section A of this part II, the reporting financial institution shall obtain when the account is opened (or within 90 days of the end of the calendar year during which the account ceases to meet the conditions laid down in section A of the part II) , a self-certification, which may be part of the documents for opening an account, which will enable it to determine if the account holder is a tax resident of the United States (to this end, a United States citizen is considered tax United States resident, even if the account holder is also a tax resident of another jurisdiction and confirm the likelihood of self-certification relying on information obtained through the opening of the account) including documents collected in accordance with the procedures to identify customers and to combat money laundering (AML/KYC).
1. If self-certification establishes that the account holder is a tax resident of the United States, the reporting financial institution is held to consider the account as a reportable account and get a self-certification on which appears the American NIF of the account holder (prepared by using form W-9 from the IRS or another authorized similar form).
2. If a change in circumstances relating to a new account of an individual occurs, and to the fact that the reporting financial institution finds or has reason to assume that the initial self-certification is incorrect or is not reliable, this institution cannot use this self-certification and must obtain a valid self-certification which specifies if the account holder is citizen or tax resident in the United States. If the reporting financial institution cannot obtain valid self-certification, it shall consider the account as a reportable account.
Part III. Diligence for pre-existing entities accounts procedures.
Following procedures and rules apply for the identification of reportable accounts and accounts held by non-participating financial institutions among the pre-existing accounts held by entities ("pre-existing entities accounts").
A. accounts of entities not subject a review, identification or declaration.
Unless otherwise decided by the reporting financial institution, either on all the accounts of entities pre-existing or, separately, compared a group clearly identified such accounts, a pre-existing entity account whose balance or value does exceed not $ 250,000 US to June 30, 2014 doesn't have to be examined, identified or declared as reportable as long as its balance or its value exceeding not $ 1,000,000 US. B. accounts subject entities has a review.
A pre-existing entity account balance or value exceeding US $ 250,000 to June 30, 2014, and one account of pre-existing balance or value not exceeding US $ 250,000 to June 30, 2014, but with the balance or value exceeding US $ 1,000,000 to the last day of 2015 or entity during any subsequent calendar year must be considered in applying the procedures described in section D of this part III.
C. accounts of entities for which a statement is required.
Regarding the accounts of pre-existing entities referred to in section B of this part III, only the following accounts are considered to be reportable accounts:-accounts held by one or more entities that are to be the subject of a declaration, or - accounts held by foreign entities non-passive (EENF) financial which one or more persons who control are citizens or U.S. residents.
In addition, accounts held by non-participating financial institutions are considered to be accounts for which total payments described in section 3 of article

9 of this Act must be reported to the competent authority of Belgium.
D. concerning Review Procedures has the identification of entity accounts for which statements are required.
For pre-existing entities accounts described in section B of this part III, the financial institution reporting must apply the following procedures for review to determine whether the account is held by one or several persons to be the subject of a declaration by passive EENF with one or more persons who control are citizens or U.S. residents , or by non-participating financial institutions: 1. determine if the entity is a person should be the subject of a statement.
a) consider the information obtained for regulatory purposes or relationship with the customer (including information collected under the procedures to identify customers and to fight against money laundering (AML/KYC) to determine if this information indicates that the account holder is a U.S. person. To this end, the place of incorporation or establishment or an address in the United States are part of the information indicating that the account holder is a U.S. person.
(b) if the information obtained indicates that the account holder is someone American, the reporting financial institution is required to treat the account as a reportable, unless she gets a self-certification of the account holder (based on the form W-8 or W - 9 from the IRS or another authorized similar form) or it shall determine with sufficient certainty on the basis of information in its possession or which are accessible to the public, that the account holder is not a person to be the subject of a statement.
2. to determine whether an entity who is not a U.S. person is a financial institution.
(a) are to consider the information obtained for regulatory purposes or relations with the client [including the information gathered as part of procedures to identify customers and to combat money laundering (AML/KYC)] to determine if this information indicates that the account holder is a financial institution.
(b) if the information obtained indicates that the account holder is a financial institution, or if the reporting financial institution verifies the account holder (GIIN) identification number on the ITIS list published by the IRS, the account is not a reportable account.
3. determine whether a financial institution is a non-participating financial institution, for which payments it has received are subject to aggregated statements provided for in section 3 of article 9 of this Act.
(a) subject to subparagraph b) of subsection 3 of section D of this part III, a reporting financial institution can determine that the account holder is a Belgian financial institution or a financial jurisdiction partner institution, if the reporting financial institution determines with sufficient certainty that the account holder has this status on the basis of the identification number of the holder of account (GIIN) on the list of the IFE issued by the IRS , or any other publicly accessible information in possession of the reporting financial institution. In this case, no further investigation, identification or declaration is required with respect to the account.
(b) if the account holder is a Belgian financial institution or an institution financial jurisdiction partner considered by the IRS as a non-participating financial institution, the account is not a reportable account, but payments to the account holder must be reported in accordance with section 3 of article 9 of this Act.
(c) if the account holder is not a Belgian financial institution or a financial jurisdiction partner institution, the reporting financial institution was required to address the account holder as a non-participating financial institution for which income payments are reportable pursuant to paragraph 3 of article 9 of this Act, unless the reporting financial institution: i. Gets a self-certification (based on Form W-8 of the IRS or an authorized similar form) from the holder of account indicating that it is a deemed IFE in accordance with the FATCA Act or a beneficial owner exempt from declaration, according to the meaning given to these expressions in the relevant regulations of the United States Treasury, or ii.
checks the identification number (GIIN) of the account holder on the ITIS list published by the IRS, in the case of a participating IFE or a compliant with the FATCA law deemed registered Wei.
4 determine whether an account held by an EENF is a reportable account.
Regarding the holder of a pre-existing entity that is identified as a U.S. person or a financial institution, the financial institution reporting must determine: (i) if the account holder is a controlled entity, (ii) if the account holder is a passive EENF and (iii) if one of the persons controlling the account holder is a citizen or resident of the United States.
To this end, the reporting financial institution shall follow the guidelines referred to in subparagraphs has) to d) of paragraph 4 of section D of this part III in the order most appropriate to the circumstances.
(a) to identify the persons controlling the entity account holder, the reporting financial institution may rely on the information collected and stored procedures to identify customers and to the fight against money laundering (AML/KYC).
(b) to determine if the account holder is a passive EENF, the reporting financial institution must obtain a self-certification (using form W-8 or W - 9 from the IRS or an authorized similar form) from the account holder to determine its status, unless it shall determine with sufficient certainty, on basis of information in its possession or which are available to the public that the account holder is an EENF active.
(c) in determining whether a person controlling a passive EENF is a citizen or a tax resident of the United States, reporting financial institution may rely on: i. the information gathered and collected in accordance with the procedures to identify customers and to fight against money laundering (AML/KYC) in the case of a pre-existing entity account owned by one or more EENF and balance or the value does not exceed US $ 1,000,000 , or (ii). a self-certification (using form W-8 or W-9 from the IRS or an authorized similar form) holder account or the person holding the control in the case of a pre-existing entity account held by one or more EENF with the balance or the value is greater than $ 1,000,000 US. d) If a person controlling a passive EENF is a citizen or a U.S. resident the account should be treated as a reportable account.
E. implementation of the review schedule and procedures additional applicable to entities preexisting accounts 1. Examination of pre-existing entities accounts with balance or value greater than US $ 250,000 to June 30, 2014 shall be completed no later than June 30, 2016.
2. the examination of the accounts of entities pre-existing balance or value exceeding not $ 250,000 USD to June 30, 2014, but is greater than $ 1,000,000 US on December 31, 2015, or 31 December of any subsequent year, shall be completed within six months following the end of the calendar year in which the balance or the value of the account was greater than $ 1,000,000 US. 3. If a change in circumstances relating to a pre-existing entity account occurs and has the consequence that the reporting financial institution knows or has good reason to assume that the self-certification or any other document associated with the account is incorrect or is not reliable, the institution must determine the status of the account again by applying the procedures described in section D of this part III.
Part IV. Procedures of due diligence for new accounts of entities.
Following procedures and rules apply to identify reportable accounts as well as accounts held by non-participating financial institutions among the financial accounts held by entities and beginning or after July 1, 2014 ("new accounts of entities").
A. accounts of entities not subject a review, identification or declaration.
Unless the reporting financial institution decides otherwise, be given all new accounts of entities, either separately, relative to a group clearly identified accounts, an account used for a credit card or a revolving credit facility as a new entity account does not have to be tested, identified or declared, provided that the reporting financial institution who holds such an account to implement rules and procedures in order to avoid that the balance due to the account holder does exceed 50.000dollars US B. other new entity accounts.
With regard to the new accounts of entities not described in section A of this part IV, the reporting financial institution must determine if the account holder is: (i) a person to be the subject of a declaration;
(ii) a Belgian financial institution or of another jurisdiction partner;

(iii) a participating IFE, a deemed Wei meets the FATCA Act, or a beneficial owner exempt from declaration, within the meaning of these expressions in the relevant regulations of the U.S. Treasury; or (iv) an EENF active or passive.
1. subject to paragraph 2 of section B of this part IV, a reporting financial institution can establish that the account holder is an active EENF, a Belgian financial institution or a financial institution partner jurisdiction, if it shall determine with a sufficient degree of certainty that this is the status of the account holder from its holder (GIIN) identification or other information available to the public or in possession of the reporting financial institution where appropriate.
2. If the account holder is a Belgian financial institution or an institution financial jurisdiction partner considered by the IRS as an adult financial institution, the account is not a reportable account, but payments to the account holder must be reported in accordance with what is provided for in section 3 of article 9 of this Act.
3. in all other cases, the reporting financial institution must obtain a self-certification of the account holder in order to establish its status. On the basis of self-certification, the following rules apply: a) if the account holder is a person should be the subject of a statement, the reporting financial institution should consider the account as a reportable account.
(b) if the account holder is a passive EENF, the reporting financial institution must identify the persons holding the control in accordance with the procedures to identify customers and to combat money laundering (AML/KYC) and must determine whether one of them is a citizen or a U.S. resident from self-certification provided by the account holder or one of those people. If one of these people is a citizen or a U.S. resident, the reporting financial institution must treat the account as a reportable account.
(c) if the account holder is (i) a person shall not be the subject of statement;
(ii) subject to subparagraph (d)) of paragraph 3 of section B of this part IV, a Belgian financial institution or institution of another jurisdiction partner;
(iii) a participating IFE, a deemed Wei meets the FATCA Act or a beneficial owner exempt from declaration, within the meaning of these expressions in the regulations of the U.S. Treasury;
(iv) an EENF active; or (v) a passive EENF that none of the persons holding the control is a citizen or resident of the United States, the account is not a reportable account and no declaration is required for this account.
(d) if the account holder is a non-participating financial institution (including a participating financial institution Belgian or partner jurisdiction which is treated by the IRS as a financial institution not), this account is not a reportable account, but the payments made for the benefit of the account holder must be reported in accordance with section 3 of article 9 of this Act.
Part V. rules of due diligence special and definitions.
A. use the autocertifications and supporting documents.
Reporting financial institution cannot rely to a self-certification or an exhibit if she knows or has any place to know that this self-certification or this voucher is incorrect or is not reliable.
B. DEFINITIONS.
1. procedures to identify customers and to combat money laundering (AML/KYC).
"Procedures to identify customers and to combat money laundering (AML/KYC)" refers to the procedures of reasonable diligence that the reporting financial institution is required to comply with under the provisions of anti-money laundering or Belgian similar rules to which the institution is subject.
2 EENF.
"EENF" (non-financial foreign entity) means any entity not American that isn't an IFE within the meaning of the relevant rules of the Treasury of the United States, or any entity that is described in subparagraph j) of paragraph 4 of section B of this part V, and includes also any entity non-us established on the territory of the Belgium or another jurisdiction partner and who is not a financial institution.
3 passive EENF.
Passive "EENF" means any EENF that is not (i) an active EENF or (ii) a foreign partnership making the withholding at source or a foreign trust making the withholding tax in accordance with the relevant regulations of the U.S. Treasury.
4 EENF active.
'EENF active' means any EENF that meets one of the following criteria: has) less than 50% of the gross revenues of the EENF in respect of the previous or other adequate reference accounting period calendar year are passive income and less than 50% of the assets held by the EENF over the previous or other adequate reference accounting period calendar year are assets that produce or held for passive income.
(b) the EENF shares are the subject of regular transactions on a regulated exchange or the EENF is an entity associated with an entity whose actions are the subject of regular transactions on a regulated stock exchange;
(c) the EENF is incorporated in the territory of American Samoa, the Commonwealth of the Northern Mariana, Guam, the Commonwealth of Puerto Rico or the Virgin Islands American and all the owners of the beneficiary of payments resident actually in these territories;
(d) the EENF is one Government (other than the U.S. Government), a subdivision policy of such a Government (it being understood that the term includes a State, a province, a county or a municipality), or a public body performing a function of such a Government or such subdivision, the Government of American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico or the Virgin Islands U.S. an international organisation, a Central Bank of issue non-American, or an entity owned 100% by one or more of the above structures;
(e) the activities of the EENF are mostly to hold (in whole or in part) the shares issued by one or more subsidiaries whose activities are not those of a financial institution, or to offer funding or services to these subsidiaries. An entity may qualify for this status if it operates (or is) as an investment fund, such as a private equity fund, a venture capital fund, a fund management buy-out by debt or any other agency of investment whose purpose is to acquire or finance companies and to hold stakes in the form of assets for investment purposes;
(f) the EENF has not yet activity and has never exercised previously but invests capital in assets to engage in one activity other than a financial institution, on the understanding that this exception could not apply to the EENF after expiry of a period of 24 months after the date of its initial constitution;
(g) the EENF was not a financial institution during the preceding five years and carries out the liquidation of its assets or is undergoing restructuring to continue or to resume transactions or activities that are not those of a financial institution;
(h) the EENF is primarily engaged in the financing of related entities that are not financial institutions and transactions of cover with or on behalf of these and does not funding or cover services to entities that are not related entities, provided that the group to which belong these related entities is mainly devoted to an activity which is not that of a financial institution;
(i) the EENF is an "excluded EENF" (excepted NFFES) according to the applicable provisions of U.S. Treasury Regulations; or j) the EENF meets all of the following conditions: i. it is established and operated in her jurisdiction of residence exclusively for purposes religious, charitable, scientific, artistic, cultural, sporting and educational; or is established and operated in her jurisdiction of residence and it is a professional federation, an employer organization, a Chamber of commerce, a Trade Union, agricultural or horticultural, civic organization or an organization whose sole purpose is to promote social well-being;
II. it is exempt from tax in her jurisdiction of residence;
III. it has no shareholder or any member with a right of ownership or enjoyment on its revenues or its assets;
IV. the law applicable in the jurisdiction of residence of the EENF or the incorporation of it exclude the income or the assets of the EENF be distributed to individuals or used or charitable organizations for their benefit, unless such use is in relation to the charitable activities of the EENF or reasonable services provided for remuneration or as payment to their fair market value, for property acquired by the entity;
and v. the law applicable in the jurisdiction of residence of the entity, or the incorporation of it impose on the winding-up or dissolution of the entity, all of its assets be

distributed to a public entity or other not-for-profit organization or are vested in the Government of the jurisdiction or the country of residence of the entity or any of its political subdivisions.
5 tax resident.
The term "Tax Resident" means any person or entity that is considered to be a resident for the purposes of the taxation law of the relevant jurisdiction.
C. aggregation of account balances and monetary conversion rules 1. Aggregation of the balances of accounts of individuals to determine the total balance or the total value of the financial accounts held by a natural person, a financial institution reporting must aggregate all accounts managed by it or by a related entity, but only insofar as its computer systems linking these accounts through a data such as the customer number or tax identification number , and thus to perform aggregation of balances or account values. Each holder of a joint account is given the total of the balance or the value of this account for the purposes of the application of these rules.
2. aggregation of the balances of accounts of entities.
To determine the balance or the total value of the accounts held by an entity, reporting financial institution must take account of all financial accounts held with it or a related entity, to the extent that its computer systems linking these accounts through a data such as the customer number or tax identification number , and thus to perform aggregation of balances or account values.
3 rules applicable to loads of customer specific aggregation.
For the purposes of determining the balance or the total value of the financial accounts held by a person with the aim of determining whether a financial account is a high-value account, reporting financial institution should also aggregate balances of all accounts, when a load of customer knows or has good reason to assume that these accounts are owned directly or indirectly by the same person or they are controlled or have been opened by the same person (except in case of opening fiduciary).
4. currency conversion rules.
To determine the balance or the value of the financial accounts denominated in a currency other than the U.S. dollar, a reporting financial institution must convert in that currency levels in U.S. dollars laid down in this annex II, based on the the spot published the last day of the calendar year preceding that in which it calculates the balance or the value of an account.
D. supporting documents.
For the purposes of this annex II, shall be deemed acceptable the following supporting documents: 1. A certificate of residence issued by a public entity authorized to do so (for example a Government, an agency thereof or a municipality) of the jurisdiction where the recipient claims to be resident.
2. in the case of a natural person, any piece of identification issued by a public agency authorized to do so (for example a Government, an agency thereof or a municipality), on which valid is the name of the person and which is usually used for identification purposes.
3. in the case of an entity, any official document issued by a licensed public body to do so (for example a Government, an agency thereof or a municipality) on which appears the name of the entity and the address of its principal place of business in the jurisdiction (or the territory of American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico or the U.S. Virgin Islands) which it claims to be a resident , or in the Court (or the territory of American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico or the U.S. Virgin Islands) in which the entity was incorporated or whose law governs.
4. in the case of an account opened in a jurisdiction subject to rules to combat money laundering which have been approved by the IRS as part of an agreement with an intermediary eligible (in the sense where these agreements are defined by the relevant United States Treasury regulations), any document, other than a form W-8 or W-9, referenced by this Court in attachments to the agreement with an eligible intermediary used to identify individuals or entities.
5. any financial statement, any credit report prepared by a third party, any filing for bankruptcy or any report of the Securities and Exchange Commission of United States E.
Alternative procedures for financial accounts held by a person physics recipient of a contract of insurance with cash value.
Reporting financial institution can presume only beneficiary person of a contract of insurance with (other than the Subscriber) commuted value who collects a capital following a death is not a person to be the subject of a declaration and may consider that this financial account is not a reportable unless the reporting financial institution has actual knowledge that the beneficiary of the capital is a person to be the subject of a declaration or reasons of knowledge. Reporting financial institution has reason to know that the recipient of a contract of insurance with cash value is a person to be the subject of a declaration if the information collected by the reporting and associated to the beneficiary financial institution contain such US clues as described in paragraph 1 of section B of part I of this annex II. If a reporting financial institution knows or has reason to know, that the beneficiary is a person to be the object of a declaration, it shall follow the procedures described in paragraph 3 of section B of part I of this annex II.
F. use to third parties.
The Belgium allows the reporting financial institutions to rely on the due diligence procedures applied by third parties, to the extent provided by the applicable provisions of U.S. Treasury Regulations.

Annex III: Standard of care affordable APPLICABLE when one jurisdiction subject A DECLARATION is a jurisdiction other that the United States part i.: diligence Procedures for accounts of pre-existing natural persons the following procedures apply for the identification of reportable accounts among the accounts of natural persons pre-existing.
NOT SUBMITTED ACCOUNTS A. EXAMINATION, IDENTIFICATION OR DECLARATION.
A pre-existing individual account which is a contract of insurance with cash value or an annuity contract must not be tested, identified or declared, provided that the act effectively prevents the reporting financial institution to sell such contracts to residents of a jurisdiction subject to notification.
B. LOW-VALUE ACCOUNTS.
The following procedures apply to the pre-existing accounts of individuals whose total balance or the total value does not exceed 31 December of the year 2015, with regard to the Member States of the European Union, or the 31 December of the year laid down by royal decree, with respect to any other jurisdiction subject to notification, the equivalent in euro of US $ 1,000,000.
("low-value accounts").
1 address of residence.
If the reporting financial institution has in its files a current residence of individual account holder address based on supporting documents, it may consider this holder of account as being a tax resident of the jurisdiction in which the address is located to determine if this owner is a person should be the subject of a statement.
2. search by electronic means.
If the reporting financial institution does not use a current residence of individual account holder address based on supporting documents as indicated in paragraph 1 of this section B, it must examine the data it holds and which may be the subject of research electronically to identify one or more of the following clues and apply the directions set out in paragraphs 3 to 6 of this section B (: a) identification of the account holder as a resident of a jurisdiction subject to declaration.
(b) postal address or current residence (including a post office box) in a jurisdiction subject to notification;
(c) one or more telephone numbers in a jurisdiction subject to notification and no telephone number within the jurisdiction of the reporting financial institution;
(d) transfer order permanent (except from a deposit account) on a managed account in a jurisdiction subject to notification;
(e) power of attorney or delegation of signature valid given to a person whose address is located in a jurisdiction subject to notification; or f) address labeled 'poste restante' or ' l' attention from "in a jurisdiction subject to notification if the reporting financial institution has no other address registered to the account holder.
3. If examination of the electronic data reveals no clues listed in paragraph 2 of the present paragraph (b), no new action is required until a change of circumstances occurs and consequence that one or several indices are associated with this account, or this account to become a high-value account.
4.

If the review of the electronic data reveals one of the indices listed in sub-paragraphs a) to (e)) of subsection 2 of this section B, or if a change of circumstances occur which translates one or more indices associated with this account, the reporting financial institution is required to treat the account holder as a tax resident, of each of the courts subject to declaration for which an index is identified unless she chooses to implement paragraph 6 of the present B and one of the exceptions contained therein to apply to this account.
5. If the words "poste restante" or "attention from" contained in the electronic record, and no other address, and any other indices listed in subparagraphs) to e) subsection 2 of this section B are identified for the account holder, the reporting financial institution must, in the most appropriate circumstances order, search paper records described in paragraph 2 of section C of this part I or endeavour to obtain account holder a self-certification or supporting documents establishing the address or addresses tax residency of the holder. If searching through paper records reveals no evidence and fails to obtain the self-certification or vouchers, the reporting financial institution must report the account as an account not documented on the authority of jurisdiction subject to declaration which it is located.
6. Notwithstanding the discovery of indicia referred to in paragraph 2 of this section B, a reporting financial institution is not required to consider an account holder as a resident of a jurisdiction subject to notification in the following cases: a) information on the account holder includes a mailing address or current residence in the jurisdiction subject to declaration, one or more phone numbers in the jurisdiction subject to notification (and no telephone number in the jurisdiction reporting financial institution) or permanent transfer orders (for other than deposit accounts financial accounts) on a managed account in a court reporting and the reporting financial institution gets, or has previously reviewed and retained a copy of the following documents: i. a self-certification from the account holder of the jurisdiction or jurisdictions where he resides which did not mention this jurisdiction subject to notification;
and ii. an exhibit which establishes that the account holder is not subject to declaration.
(b) the information on the account holder includes a proxy or a delegation of signature valid granted to a person whose address is located in the jurisdiction reporting, the reporting financial institution gets, or previously considered, and keeps a copy of the following documents: i. a self-certification from the account holder of the Court or of the courts where he resides which mentions not this jurisdiction subject to notification;
or (ii). an exhibit which establishes that the account holder is not subject to declaration.
C. PROCEDURES FOR CONSIDERATION FOR HIGH VALUE ACCOUNTS.
The following examination procedures apply to pre-existing physical persons accounts including the balance or the value exceeds, on December 31, 2015, when the account holder is a resident of a Member State of the European Union, or at 31 December of the year laid down by royal decree, the account holder is a resident of another jurisdiction subject to notification the equivalent in EUR of $ 1,000,000 US. ("high value accounts").
1. search by electronic means.
Regarding high value accounts, the reporting financial institution is required to examine the data that it holds and which may be the subject of research electronically to identify one of the indications referred to in paragraph 2 of section B of this part I. 2. Search in paper files.
If likely to be examined electronically the reporting financial institution databases contain fields containing all of the information described in subsection 3 of this section C and allow to apprehend the content, no research in paper files is required.
If these databases contain all these information, the reporting financial institution is also required, for a high-value account, to review the current customer's main file and, insofar as this information does not, include the following documents associated with the account and obtained by the financial reporting institution during the previous five years to search one of the indices described in paragraph 2 of section B of this part I (: a) the exhibits collected most recently concerning the account;
(b) the most recent agreement or document of the most recent account opening;
c) the most recent documentation obtained by the reporting financial institution in accordance with the procedures to identify customers and to fight against money laundering (AML/KYC) or for other legal reasons;
(d) any power of attorney or delegation of signature valid; and (e)) any transfer order permanent (except from a deposit account) valid.
3 exception when databases contain sufficient information.
Reporting financial institution is not required to search through paper records described in subsection 2 of this section C if its likely to be examined electronically information include the following: a) the situation of the holder of account residency;
b) residence address and mailing address of the account holder listed in the folder of the reporting financial institution;
c) (s) (s) phone number possible (s) of account holder contained (nt) in the folder of the reporting financial institution;
(d) in the case of other financial accounts that deposit accounts, a possible permanent transfer order for the account to another account (including an account with another branch of the reporting financial institution or another financial institution);
(e) a possible address marked "to the attention of" or "poste restante" to the account holder; and (f) a possible proxy or delegation of signature on the account.
4 capture of information from the load of customer for a real knowledge of the account.
In addition to research into computer records and paper described above in paragraphs 1 of section C, the reporting financial institution is required to treat as reportable account any account of high value entrusted to a load of customers (including any accounts that are bundled with this high-value account) If this load of customer knows that the account holder is a person to be the subject of a declaration.
(5 consequences of the discovery of indicia) if the thorough accounts of high value stated at section C reveals no clues listed in paragraph 2 of section B, and if the application of paragraph 4 of this paragraph C does not establish that the account is held by a person to be the subject of a declaration, no new action is required until a change of circumstances occurs which translates into one or more associated indices to this account.
(b) if the consideration of high-value accounts described above reveals one of the indices listed in subparagraphs (a) to (e)) of paragraph 2 of section B of this part I or in the event of subsequent changes of circumstances which lead to associate one or more indices related to the account, the reporting financial institution with the account must consider the account as a reportable for each of the courts subject to declaration for which an index is identified unless she chooses to apply paragraph 6 of section B of this part I and that one of the exceptions of paragraph applies with regard to this account.
c) If discussion of high-value accounts set out in section C reveals the words "poste restante" or "attention of" no other address and none of the other listed indices sub-paragraphs) e) of subsection 2 of section B of this part I are identified for the account holder, the reporting financial institution must obtain account holder a self-certification or voucher establishing the address or addresses of tax residence This holder. If the reporting financial institution is unable to obtain this self-certification or this exhibit, it must report the account as an account not documented on the authority of jurisdiction subject to declaration which it is located.
6 If, on December 31, 2015, when the account holder is a resident of a country member of the Union European, or at 31 December of the year set by Royal Decree, when the account holder is a resident of another jurisdiction subject to declaration, an account of individual pre-existing is not an account of high value but becomes on the last day of any subsequent calendar year the reporting financial institution must apply to this account the in-depth review procedures described in this section

(C) during the year following the calendar year in which the account becomes an account of high value.
If, as a result of this review, it appears that this account is a reportable account, the reporting financial institution must provide the required information on this account for the year during which it is identified as reportable as well as for future years on an annual basis, unless the account holder ceases to be a person to be the subject of a declaration.
7. after reporting financial institution has applied the thorough procedures described in this section C to a high-value account, it is more required to renew these procedures the following years, with the exception of the capture of information from the load of customers described in paragraph 4 of this section C, unless the account is not documented in which case the financial institution must renew them each year until the account ceases to be undocumented.
8. If a change in circumstances relating to a high-value account occurs and to the fact that one or more of the indications referred to in paragraph 2 of section B of this part I are associated with this account, the reporting financial institution must consider the account as a reportable account for each jurisdiction reporting for which an index is identified unless she chooses to apply paragraph 6 of section B of this part I and one of the exceptions contained therein to apply to this account.
9. a reporting financial institution is required to implement procedures ensuring that loads of customers identify any change in circumstances in connection with an account. If, for example, a load of customer is informed that the account holder has a new mailing address in a jurisdiction subject to notification, the reporting financial institution should consider this new address as a change of circumstances and, if she chooses to apply paragraph 6 of section B of this part I, get the documents required with the account holder.
D. deadlines examination of the pre-existing accounts of individuals of high value must be completed no later than December 31, 2016, when the account holder is a resident of a country member of the European Union, or on the date fixed by Royal Decree in other cases. Examination of the pre-existing accounts of low value must be completed on 31 December 2017 at the latest, when the account holder is a resident of a member country of the European Union, or on the date fixed by Royal Decree for any other jurisdiction subject to notification.
Any pre-existing individual account that has been identified as reportable account pursuant to this part is considered a reportable account the following years, except if the account holder ceases to be a person to be the subject of a statement.
Part II: Procedures of due diligence for new accounts of natural persons the following procedures apply to identify reportable accounts among new accounts of natural persons.
A. with regard to the new accounts of physical persons, the reporting financial institution must obtain the opening of the account a self-certification (which may be part of the documents presented at the opening of account) which allows us to determine the address or addresses of residence for tax purposes of the account holder and confirm the likelihood of self-certification relying on information obtained through the opening of the account including documents collected in accordance with the procedures to identify customers and to combat money laundering (AML/KYC).
B. Si self-certification establishes that the account holder is a tax resident of a jurisdiction subject to notification, the reporting financial institution is required to treat the account as a reportable account and self-certification must denote the NIF's account for that court reporting (subject to article 6, paragraph 2, of this Act and his date of birth.)
C. Si a change in circumstances relating to a new account of individual occurs and has the consequence that the reporting financial institution finds or has reason to assume that the initial self-certification is incorrect or is not reliable, this institution cannot use this self-certification and must obtain a valid self-certification which specifies the address or addresses of residence for tax purposes of the account holder.
Part III: Procedures of due diligence for pre-existing entities the following procedures apply to identify reportable accounts among pre-existing entities accounts.
A. ENTITIES NOT SUBJECT A REVIEW, IDENTIFICATION OR DECLARATION.
Unless the reporting financial institution decides otherwise, either with respect to all accounts of pre-existing entities or separately, relative to a group clearly identified such accounts, a count of entity pre-existing balance or the value exceeds not equivalent in EUR of $ 250,000 USD to December 31, 2015, when the account holder is a resident of a country member of the Union European , or until 31 December of the year set by Royal Decree in other cases, should not be examined, identified or declared as account reportable as long as its balance or its value exceeds not such amount to the last day of any subsequent calendar year.
B. ENTITIES SUBJECT TO EXAMINATION.
An entity pre-existing total balance account or the total value exceeding the equivalent in EUR of 31 December 2015: US $ 250,000 when the account holder is a resident of a country member of the Union European, or at 31 December of the year set by Royal Decree in other cases, and an entity account pre-existing balance or value exceeding not such amount to the above dates but goes beyond the last day of any year calendar later, must be considered in applying the procedures described in section D of this part III.
C. ACCOUNTS OF ENTITIES FOR WHICH A DECLARATION IS REQUIRED.
If regard to pre-existing entities accounts referred to in section B of this part III, only accounts held by one or more entities which are subject to declaration, or passive NFTS which one or several persons who have control are people to be the subject of a declaration, should be considered as reportable accounts.
D. EXAMINATION CONCERNING PROCEDURES HAS THE IDENTIFICATION OF ENTITIES FOR WHICH STATEMENTS ARE REQUIRED.
For pre-existing entities accounts described in section B of this part III, the reporting financial institution shall apply the following procedures for review to determine if the account is held by one or more persons subject to declaration or by passive NFTS including one or more persons who control are the people to be the subject of a declaration : 1. determine if the entity is a person should be the subject of a statement.
a) consider the information obtained for regulatory purposes or relations with the client [including the information gathered as part of procedures to identify customers and to combat money laundering (AML/KYC)] to determine if this information indicates that the account holder is resident of a jurisdiction subject to notification. To this end, the place of incorporation or establishment or an address in a jurisdiction subject to declaration are part of the information indicating that the account holder is resident of a jurisdiction subject to notification.
(b) if the information obtained indicates that the account holder is resident of a jurisdiction subject to notification, the reporting financial institution is required to treat the account as a reportable unless she gets a self-certification of the account holder or it shall determine with sufficient certainty on the basis of information in its possession or which are accessible to the public that the account holder is not a person to be the subject of a statement.
2. determine if the entity is a passive ENF which one or more persons holding the control are to be the subject of a statement.
With regard to the holder of an account entity pre-existing (including an entity that is a person should be the subject of a statement), the reporting financial institution must determine whether the account holder is a passive ENF which one or more persons who control must be the subject of a declaration. If this is the case, the account must be considered a reportable account. To this end, the reporting financial institution shall follow the guidelines referred to in subparagraphs has) to c) below in the order most appropriate to the circumstances.
(a) determine whether the account holder is a passive ENF. To determine if the account holder is a passive ENF, the reporting financial institution must obtain a self-certification of account holder establishing status, unless it shall determine with certainty sufficient on the basis of information in its possession or which are available to the public that the account holder is an ENF active or one financial institution other than an entity to investment described in sub-paragraph b) paragraph 10 of section A of

Annex I which is not a financial institution of a partner jurisdiction.
b) identify persons controlling an account holder. To determine the persons controlling an account holder, reporting financial institution may rely on the information collected and stored procedures to identify customers and to the fight against money laundering (AML/KYC).
(c) determine whether a person controlling a passive ENF is a person should be the subject of a statement. To determine whether a person controlling a passive ENF is a person should be the subject of a statement, reporting financial institution may rely on: i. the information gathered and collected in accordance with the procedures to identify customers and to fight against money laundering (AML/KYC) in the case of a pre-existing entity account owned by one or more ENF and balance or the value does not exceed $ 1,000,000 EUR equivalent US, or ii. self-certification of holder of account or the person holding the control of the courts which that person is a tax resident.
E. TIMETABLE FOR IMPLEMENTATION OF THE EXAMINATION AND PROCEDURES ADDITIONAL APPLICABLE TO ENTITIES PREEXISTING.
1. the examination of the accounts of pre-existing entities whose total balance or total value is more than the equivalent in euro of US $ 250,000 until December 31, 2015, when the account holder is a resident of a member country of the European Union, or at 31 December of the year set by arrêté royal, where the account holder is a resident of another jurisdiction subject to notification , must be completed by December 31, 2017, when the account holder is a resident in a Member State of the European Union, and, on 31 December of the second year following the year fixed by Royal Decree, for each of the other jurisdictions subject to declaration.
2. the examination of the pre-existing entities accounts total balance or total value does not exceed the equivalent in euro of US $ 250,000 until December 31, 2015, when the account holder is a resident of a member country of the European Union, or at 31 December of the year set by Royal Decree, the account holder is a resident of another jurisdiction subject to notification , but is greater than this amount on December 31 of any subsequent year, to be completed in the calendar year following the year during which the balance or the value of the account was higher amount audit.
3. If a change in circumstances relating to a pre-existing entity account occurs and has the result that the reporting financial institution knows or has reason to know that the self-certification or other document associated with the account is incorrect or is not reliable, this institution should determine the status of the account again by applying the procedures described in section D of this part III.
PART IV: Procedures of due diligence for new accounts of entities the following procedures apply to identify reportable accounts among new accounts of entities.
A. EXAMINATION CONCERNING PROCEDURES AT THE IDENTIFICATION OF ENTITIES FOR WHICH STATEMENTS ARE REQUIRED.
For new accounts of entities, a reporting financial institution shall apply the following procedures for review to determine if the account is held by one or several persons subject to declaration or by passive NFTS including one or more persons who control must be the object of a declaration: 1. determine if the entity is a person should be the subject of a statement.
(a) obtain a self-certification, that can be part of the documents presented at the opening of account, allowing the reporting to determine financial institution address or addresses of the account holder's tax residence and confirm the likelihood of self-certification relying on information obtained through the opening of the account, including the documents collected in application of procedures to identify customers and to combat money laundering (AML/KYC). If the entity shall certify that it has no address of residence for tax purposes, the reporting financial institution may rely on the address of its principal office to determine the residence of the account holder.
(b) if self-certification establishes that the account holder resides in a jurisdiction subject to notification, the reporting financial institution is required to treat the account as a reportable unless it determines with sufficient certainty on the basis of information in its possession or which are accessible to the public that the account holder is not a person to be a statement in the title of this jurisdiction subject to notification.
2. determine if the entity is a passive ENF which one or more persons holding the control are to be the subject of a statement.
With regard to a holder of a new entity (including an entity that is a person should be the subject of a statement), the reporting financial institution must determine if the account holder is a passive ENF which one or more persons holding the control are to be the subject of a statement. If this is the case, the account must be considered a reportable account.
To this end, the reporting financial institution shall follow the guidelines referred to in subparagraphs has) to c) below in the order most appropriate to the circumstances.
(a) determine whether the account holder is a passive ENF. To determine if the account holder is a passive ENF, the reporting financial institution must obtain a self-certification of account holder establishing status, unless it shall determine with certainty sufficient on the basis of information in its possession or which are available to the public that the account holder is an ENF active or one financial institution other than an entity to investment described in sub-paragraph b) of point 10 of section A of annex I which is not a financial institution of a partner jurisdiction.
b) identify persons controlling an account holder. To determine the persons controlling an account holder, reporting financial institution may rely on the information collected and stored procedures to identify customers and to the fight against money laundering (AML/KYC).
(c) determine whether a person controlling a passive ENF is a person should be the subject of a statement. To determine whether a person controlling a passive ENF is a person should be the subject of a statement, reporting financial institution may rely on a self-certification of holder of account or this person.
Part V: Special diligence for implementing reasonable effort described above, the following additional rules shall apply: A. use the AUTOCERTIFICATIONS and the supporting parts.
Reporting financial institution cannot be f on a self-certification or an exhibit if she knows or has any place to know that this self-certification or this voucher is incorrect or is not reliable.
B. PROCEDURES ALTERNATIVES FOR ACCOUNTS FINANCIAL HELD BY A PERSON PHYSICAL BENEFICIARY OF AN INSURANCE CONTRACT WITH VALUE OF REDEMPTION OR AN ANNUITY CONTRACT.
Reporting financial institution can be assumed as the beneficiary of an insurance contract with value of redemption or a contract of annuity (other than the Subscriber) who collects a capital following a death is not a person to be the subject of a declaration and may consider that this financial account is not a reportable unless account that the reporting financial institution is actually aware that the beneficiary of the capital is a person to be the subject of a declaration or has any place to find out. Reporting financial institution has every reason to know that the recipient of the capital of an insurance contract with value of redemption or an annuity contract is a person to be the object of a declaration if information collected by the reporting financial institution associated with the recipient understand clues referred to in section B of part III. If a reporting financial institution knows or has reason to know, that the beneficiary is a person to be the subject of a declaration, it shall follow the procedures set out in section B of part III.
C. PROCEDURES ALTERNATIVES FOR ACCOUNTS FINANCIAL HELD BY A PERSON PHYSICAL BENEFICIARY OF A PLAN OF GROUP INSURANCE WITH VALUE OF REDEMPTION OR GROUP ANNUITY CONTRACTS.
Reporting financial institution may consider that a financial account that corresponds to the participation of a member in a group with cash value insurance contract or a group annuity contract is not a reportable account until the date at which amount is due to the employee / the holder of certificate or to the beneficiary, if the financial account meets the following conditions : i. the group with cash value insurance contract or group annuity contract is underwritten by an employer and covers at least twenty-five employees/certificate holders;
II. employees/certificate holders are entitled to

collect any amount related to their participation in the agreement and to designate recipients of capital contributed to their deaths. and iii. capital total that can be paid to an employee/certificate holder or beneficiary does not exceed the equivalent in euro of US $ 1,000,000.
"Group with cash value insurance contract" means a contract of insurance with cash value i.
which covers natural persons adhering through an employer, a professional association, a trade union or other association or other group-ii. for which a premium is collected for each Member of the Group (or member of a class of the Group) which is determined independently of the aspects of health status other than age, sex and smoking of the Member (or member category) of the group.
"Group annuity contract" means an annuity contract in virtue of which the creditors are natural persons adhering through an employer, a professional association, a trade union or other association or another group.
D. ADDITIONAL DEFINITIONS 1. "ENF" refers to an entity that is not a financial institution.
2. the passive "ENF" means any child who is not: i. an active ENF or ii. investment entity described in subparagraph b) of paragraph 10 of section A of annex I which is not a financial institution of a partner jurisdiction.
3. "Active child" means any child who meets one of the following criteria: has) less than 50% of the gross revenues of nonformal education in respect of the previous or another relevant reference accounting period calendar year are passive income and less than 50% of the assets held by the ENF in the previous or another relevant reference accounting period calendar year are assets that produce passive income or are held to this end;
(b) the actions of nonformal education are the subject of regular transactions on a regulated exchange or NFE is an entity associated with an entity whose actions are the subject of regular transactions on a regulated stock exchange;
(c) the ENF is a public entity, an international organisation, a Central Bank, or an entity owned 100% by one or more of the above structures;
(d) the activities of the ENF consist mostly to hold (in whole or in part) the shares issued by one or more subsidiaries which engage in activities other than those of a financial institution, or to offer funding or services to these subsidiaries. An entity may qualify for this status if it operates (or is) as an investment fund, such as a private equity fund, a venture capital fund, a fund management buy-out by debt or any other agency of investment whose purpose is to acquire or finance companies and to hold stakes for investment purposes;
(e) the child has not yet activity and has never exercised previously but invests capital in assets to engage in one activity other than a financial institution, on the understanding that this exception could not apply to the ENF after expiry of a period of 24 months after the date of its initial constitution;
(f) the child was not a financial institution during the preceding five years and carries out the liquidation of its assets or is undergoing restructuring to continue or to resume transactions or activities that are not those of a financial institution;
(g) the ENF is dedicated mainly to the funding of related entities that are not financial institutions and transactions with or on behalf of these coverage and does not funding or cover services to entities that are not related entities, provided that the group to which belong these related entities is mainly devoted to an activity which is not that of a financial institution; or h) Nonformal Education meets all the following conditions: i. it is established and operated in her jurisdiction of residence exclusively for purposes religious, charitable, scientific, artistic, cultural, sporting and educational;
or is established and operated in her jurisdiction of residence and it is a professional federation, an employer organization, a Chamber of commerce, a Trade Union, agricultural or horticultural, civic organization or an organization whose sole purpose is to promote the social welfare;
II. it is exempt from tax in her jurisdiction of residence;
III. it has no shareholder or any member with a right of ownership or enjoyment on its revenues or its assets;
IV. the law applicable in the jurisdiction of residence of the ENF or instruments of incorporation of the exclude revenues or assets of nonformal education be distributed to individuals or used or charitable organizations for their benefit, unless such use is in relation to the charitable activities of the ENF or reasonable services provided for remuneration or as payment to their fair market value, for property acquired by the entity; and v.
law applicable in the jurisdiction of residence of the ENF or incorporation thereof require that, during the liquidation or dissolution of the entity, all its assets be distributed to a public entity or to another charitable organization or be vested in the Government of the jurisdiction of residence of the child or one of its political subdivisions.
4. the term "Tax Resident" means any person or entity that is considered to be a resident for the purposes of the taxation law of the relevant jurisdiction.
5. the term "Residence tax" means residence taken into account for the purposes of the taxation law of the relevant jurisdiction.
E. AGGREGATION OF ACCOUNT BALANCES AND MONETARY CONVERSION RULES 1. Aggregation of the balances of accounts of natural persons.
To determine the total balance or total value accounts held by a natural person, a financial institution reporting must aggregate all accounts managed by it or by a related entity, but only insofar as its computer systems linking these accounts through a data such as the customer number or the NIF , and thus to perform aggregation of balances or account values. Each holder of a joint account is given the total of the balance or the value of the account for the purposes of the application of these rules.
2. aggregation of the balances of accounts of entities.
To determine the balance or the total value of the accounts held by an entity, reporting financial institution must take account of all financial accounts held with it or a related entity, to the extent that its computer systems linking these accounts through a data such as the customer number or the NIF , and thus to perform aggregation of balances or account values. Each holder of a joint account is given the total of the balance or the value of the account for the purposes of the application of these rules.
3 rule applicable to loads of customer specific aggregation.
To determine the total balance or total value accounts held by a person with the aim of determining whether a financial account is of high value, reporting financial institution must also aggregate balances of all accounts, when a load of customer knows or has reason to know that these accounts are owned directly or indirectly by the same person or they are controlled or have been opened by the same person (except in the case of opening to) fiduciary).
F. parts supporting for the purposes of this Act, the following supporting documents are deemed acceptable: has) an attestation of residence issued by a licensed public body (for example a Government, an agency thereof or a municipality) of the jurisdiction which the beneficiary claims to be resident.
(b) in the case of a natural person, identity issued by a licensed public body (for example a Government, an agency thereof or a municipality), on which valid is the name of the person and which is usually used for identification purposes.
(c) in the case of an entity, any official document issued by a licensed public body to do so (e.g., a Government, an agency thereof or a municipality) on which figure the name of the entity and the address of its principal place of business in the jurisdiction which it claimed to be resident or incorporated in the jurisdiction in which the entity or whose law governs.
(d) any audited financial statement, credit report prepared by a third party, deposit balance or report prepared by the securities regulatory body).
With respect to a pre-existing entity account, reporting financial institutions can use as exhibit any classification in the registers of the reporting financial institution relating to the account holder who has been prepared on the basis of a standardized system of codification by sector of activity, which has been recorded by the financial institution reporting procedures to identify customers and to fight against money laundering (AML/KYC) or other regulatory purposes (other than tax) and which has been implemented by the reporting financial institution

before the date on which the financial account has been classified as a pre-existing account, provided that the reporting financial institution does not know or does not take place to know that this classification is incorrect or is not reliable. "Standardized coding system using industry" refers to a classification system used to classify establishments by type of activity for purposes other than for the purpose of taxation.
G. RULES ADDITIONAL REPORTING AND DUTY OF CARE REGARDING THE INFORMATION RELATING TO THE FINANCIAL ACCOUNTS.
1 change of circumstances "change in circumstances" includes any change resulting in the addition of information relating to the status of a person or inconsistent with that person's status. A change of circumstances also covers any modification or added information about the account of the account holder (including the addition or substitution of a licensee's account or any amendment thereto) or modifications or the addition of information about any account associated account (using the aggregation rules in part V, section C of this annex) If this amendment or this added information affects the status of the account holder.
If a reporting financial institution has resorted to the test based on the address of residence laid down in paragraph 1 of section B of part I of this annex, and if a change of circumstances occurs causing the reporting financial institution to know or have reason to know that the original of exhibit (or other equivalent document) is not correct or is not reliable the reporting financial institution shall, at no later than the last day of the calendar year or any other appropriate reference period, or within a period of 90 calendar days after having been informed or have discovered this change in circumstances obtain a self-certification and a new exhibit to establish the tax owner residences of account. If the reporting financial institution cannot obtain the self-certification and the new exhibit in the abovementioned period, the reporting financial institution shall apply the procedure of research electronically set out in paragraphs 2 to 6 of section B of part I of this annex.
2 self-certification for new accounts of entity in the case of new entity accounts, for the purposes of determining whether a person controlling a passive ENF is a person should be the subject of a statement, reporting financial institution may rely only on a self-certification of holder of account or the person controlling.
3 residence of a financial institution a financial institution "resides" in any partner jurisdiction if it falls under the jurisdiction of this Court (that is, if the partner jurisdiction is able to require the financial institution its declarative obligation). Generally, when a financial institution is a tax resident of a jurisdiction partner, it falls under the jurisdiction of this Court partner and is therefore a financial institution of this partner jurisdiction. When a trust is a financial institution (regardless of whether it is a tax jurisdiction partner resident), the trust is deemed to fall within the competence of that jurisdiction if one or more of its trustees are residents of that jurisdiction, unless the trust shall submit all information to be communicated under this Act respecting the reportable accounts that he holds to an another jurisdiction partner is a resident tax of that other jurisdiction. However, when one financial institution (other than a trust) has no tax residence (for example if it is considered fiscally transparent or if it is located in a jurisdiction does not impose income), it is considered as falling within the jurisdiction of a court partner and therefore it is a financial institution of a partner if Court: has) it is incorporated under the laws of the jurisdiction partner;
(b) its place of management (including effective management) is located in the partner jurisdiction; or c) she made the object of financial monitoring in partner jurisdiction.
When one financial institution (other than a trust) resident in two jurisdictions partners or more, the financial institution will be subject to declaration and due diligence obligations under the partner jurisdiction in which it manages the financial accounts.
4 accounts managed in a general manner, an account should be considered to be managed:-in the case of a securities account by the financial institution which has custody of the assets of the account (including a financial institution that holds the assets on behalf of a broker for an account with the institution holder);
-in the case of a deposit account by the financial institution that is required to make to this account payments (except if it is an agent of a financial institution, regardless of whether or not the agent is a financial institution);
-in the case of a participation or claim title deposited with a financial institution and constituting a financial account by the financial institution in question;
-in the case of a contract of insurance with value of redemption or an annuity contract, by the financial institution which is liable to make payments under this contract.
5 trusts which are passive NFTS an entity such as a partnership, a limited liability company or similar legal structure that has no tax residence, in accordance with Annex I, section D, paragraph 3, is considered as resident in the jurisdiction where its place of effective management is situated. For these purposes, a legal person or a legal structure is deemed "similar" to a partnership or a corporation limited liability if it is not considered as a taxable unit in a jurisdiction subject to declaration under the tax laws of that jurisdiction. However, to avoid double declarations (taking into account the broad scope of the term "persons controlling" in the case of trusts), a trust which is a passive ENF can not be regarded as a similar legal structure.
6. address of the principal place of business of an entity one of the rules set out in section F of the annex provides that, in the case of an entity, the official document contains the address of its principal place of business in the jurisdiction where it claims to be a resident or in the jurisdiction in which it was incorporated or whose law governs. The address of the principal place of business of the entity is usually the place where its place of effective management is situated. The address of a financial institution with whom the entity has opened an account, a post office box or address used only for mail is not the address of the principal of the entity, unless it is the only address used by the entity and appears as the address of the seat of the entity in documents relating to its organization. In addition, an address that is provided under instruction to keep all mail sent to this address is not the address of the Head Office of the entity.