Vorlage (Abkommen en)

4. If the entity Account Holder is a Nonparticipating Financial Institution (including a Swiss Financial Institution or other Partner Jurisdiction Financial Institution that is identified by the IRS as a Nonparticipating Financial

Institution as described in paragraph 2 of Article 11 of the Agreement), then the account is not a U.S. Account, but payments to the Account Holder must be reported consistent with the requirements of an FFI Agreement.

VI. Special Rules and Definitions. The following additional rules and definitions apply in implementing the due diligence procedures described above:

A. Reliance on Self-Certifications and Documentary Evidence. A Reporting

Swiss Financial Institution may not rely on a self-certification or documentary

evidence if the Reporting Swiss Financial Institution knows or has reason to know that the self-certification or documentary evidence is incorrect or unreliable.

B. Definitions: The following definitions apply for purposes of this Annex I.

1. AML/KYC Procedures. “AML/KYC Procedures” means the

customer due diligence procedures of a Reporting Swiss Financial Institution pursuant to the anti-money laundering or similar requirements of Switzerland to which such Reporting Swiss Financial Institution is subject.

2. NFFE. An “NFFE” means any Non-U.S. Entity that is not a FFI as defined in relevant U.S. Treasury Regulations, and also includes any Non-U.S. Entity that is organized under the laws of Switzerland or another Partner Jurisdiction and that is not a Financial Institution.

3. Passive NFFE. A “Passive NFFE” means any NFFE that is neither an Active NFFE, nor a withholding foreign partnership or withholding foreign trust pursuant to relevant U.S. Treasury Regulations.

4. Active NFFE. An “Active NFFE” means any NFFE that meets any of the following criteria:

a) Less than 50 percent of the NFFE’s gross income for the preceding calendar year or other appropriate reporting period is passive income; and less than 50 percent of the assets held by the NFFE during the preceding calendar year or other appropriate reporting period are assets that produce or are held for the production of passive income;

b) The stock of the NFFE is regularly traded on an established securities market or the NFFE is a Related Entity of an Entity the stock of which is traded on an established securities market;

c) The NFFE is organized in a U.S. Territory and all of the owners of the payee are bona fide residents of that U.S. Territory;

d) The NFFE is a non-U.S. government, a government of a U.S. Territory, an international organization, a non-U.S. central bank of issue, or an Entity wholly owned by one or more of the foregoing;