Projet (Accord en)

subsequent years on an annual basis.

3. Once a Reporting Swiss Financial Institution applies the enhanced review procedures set forth above to a High Value Account, the Reporting Swiss Financial Institution shall not be required to re-apply such procedures, other than the relationship manager inquiry in subparagraph D (4) of this section, to the same High Value Account in any subsequent year.

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

subparagraph B (4) of this section applies.

5. A Reporting Swiss Financial Institution must implement procedures to ensure that a relationship manager identifies any change in circumstances of an account. For example, if a relationship manager is notified that the Account Holder has a new mailing address in the United States, the Reporting Swiss Financial Institution shall be required to treat the new address as a change in circumstances and shall be required to obtain the appropriate documentation from the Account Holder.

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

A. Accounts Not Required to Be Reviewed, Identified, or Reported. Unless

the Reporting Swiss Financial Institution elects otherwise:

1. A New Individual Account that is a Depository Account is not required to be reviewed, identified, or reported as a U.S. Account unless the account balance exceeds $50,000 at the end of any calendar year.

2. A New Individual Account that is a Cash Value Insurance Contract is not required to be reviewed, identified, or reported as a U.S. Account unless the Cash Value exceeds $50,000 at the end of any calendar year.

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