Regulation (2015:70) On Identification Of Reportable Accounts On The Occasion Of The Fatca Agreement

Original Language Title: Förordning (2015:70) om identifiering av rapporteringspliktiga konton med anledning av FATCA-avtalet

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Read the untranslated law here: http://rkrattsbaser.gov.se/sfst?bet=2015:70

Scope of application



section 1 of this Regulation shall apply for the purposes of the law

(2015:62) for identification of reportable accounts

on the occasion of FATCA.



Time limits for the review of existing financial accounts

held by natural persons



section 2 of the Current accounts held by private individuals and

the balance or value amounted to USD 1 000 000 or

less June 30, 2014, but whose balance or value at

end of 2015 or later calendar year exceed 1 000

000 US dollars, shall be examined in accordance with Chapter 4. 3 – 9 § §

Act (2015:62) for identification of reportable

accounts on the occasion of the FATCA agreement within six months of

the end of the calendar year 2015 or later.



Calculation of limit values



section 3, for the purpose of calculating a credit balance or value according to 4-8.

Act (2015:62) for identification of reportable

accounts on the occasion of the FATCA agreement, all accounts

a person holds in respect of the reporting required financial

the Institute or to the reporting obligation

financial Institute affiliated unit are aggregated. This

applies, however, only if the reporting required financial

the Institute's data system allows for such a count.



Any natural person who holds an account shared with anyone

else in the rankings provided for in the first subparagraph shall be regarded as

holders of the joint account balance or

value.



section 4 If there is a member of the staff of the

reporting financial institution which has particular

responsible for relations with an account holder and the

the officer has reason to believe that the account holder directly or

indirectly holds or controls one or more other

accounts, all these accounts are aggregated to calculate

of balance or value according to 4-8. Act (2015:62) if

identification of reportable accounts with reason

of FATCA.



The first paragraph does not apply to such accounts as a

account holder controls or has opened for someone else's

Bill acting as trustee.



§ 5 When an amount given in u.s. dollars in 4-8. the law

(2015:62) for identification of reportable accounts

on the occasion of the FATCA agreement shall include the corresponding amount

in a different currency.



In determining whether a balance or value of another

currency other than u.s. dollars equals or exceeds an amount

as specified in u.s. dollars in 4-8. the law on the identification of

reportable accounts on the occasion of the FATCA agreement;

should the reporting required financial institution use

a published spot rate for the last day of the

calendar year preceding the date of the examination in accordance with

4-8. is done.