Avamprogetto (Accordo en)

Article 4 Enabling Clause

Swiss Financial Institutions that, pursuant to applicable U.S. Treasury Regulations, enter into an FFI Agreement with the IRS or register with the IRS as deemed-compliant FFIs, are authorized and therefore not liable to any penalty according to Article 271 of the Swiss Criminal Code.

Article 5 Exchange of Information

1. In the context of FATCA implementation, the U.S. Competent Authority may make group requests to the Swiss Competent Authority, based on the aggregate information

reported to the IRS pursuant to the directives described in subparagraphs 1(b)(iii) and 2(a)(ii) of Article 3 of this Agreement, for all the information about Non-Consenting U.S. Accounts and Foreign Reportable Amounts paid to non-consenting Nonparticipating Financial

Institutions that the Reporting Swiss Financial Institution would have had to report under an FFI Agreement had it obtained the consent. Such requests shall be made pursuant to Article 26 of the Convention, as amended by the Protocol. Accordingly, such requests shall not be made prior to the entry into force of the Protocol and shall apply to information for the time period beginning on or after the entry into force of this Agreement.

2. The information requested pursuant to paragraph 1 shall be considered information that may be relevant for carrying out the administration or enforcement of the domestic laws of the United States concerning taxes covered by the Convention, as amended by the Protocol and under which taxation is not contrary to the Convention, as amended by the Protocol,

without regard to whether the Reporting Swiss Financial Institution or another party has contributed to non-compliance of the taxpayers in the group.

3. When the Swiss Competent Authority receives such a group request with respect to Non-Consenting U.S. Accounts or Foreign Reportable Amounts paid to non-consenting Nonparticipating Financial Institutions:

a) The FTA shall request the Financial Institution holding the information to identify the Account Holders or Nonparticipating Financial Institutions concerned and to provide to the FTA within 10 days the information described in paragraph 1 of this Article.

b) The FTA shall issue a final decision and notify the persons concerned about the decision on an anonymous basis by a publication in the Federal Gazette and on its internet site. The final decision may be appealed within 30 days after the

publication in the Federal Gazette. The appeal must be lodged with the Swiss Federal Administrative Court. A copy of such appeal must be lodged with the FTA. If the FTA considers the appeal to be unjustified, it shall, immediately and independently from delays set by the Court, submit its position to the Federal Administrative Court for decision. The Federal Administrative Court’s decision is final. If the FTA considers the appeal to be justified, it shall reconsider its final decision and notify the Federal Administrative Court immediately and

independently from delays set by the Court.

c) The FTA shall, within 8 months of the receipt of a group request from the U.S. Competent Authority for the information described in paragraph 1 of this Article, exchange all such requested information with the U.S. Competent Authority in the