Vorlage (Abkommen en)

2. Vested benefits institutions (Article 4 Vested Benefits Act/FZG and Article 10

Vested Benefits Ordinance/FZV);

3. The substitute occupational pension fund (Auffangeinrichtung, Article 60 BVG);

4. The guarantee fund (Articles 56-59 BVG),

5. Institutions for recognized forms of pension provision under Article 82 BVG

(pillar 3a),

6. Employer-funded welfare funds in the area of old age, survivors’ and disability

insurance (Article 89^bis paragraph 6 Swiss Civil Code/ZGB);

7. Investment foundations (Anlagestiftungen; Articles 53g-53k BVG), if all of the

participants in the investment foundation are pension or other retirement

arrangements described in this paragraph (D).

II. Deemed-Compliant Financial Institutions.

A. Registered Deemed-Compliant Financial Institutions. The following categories of

institutions are Non-Reporting Swiss Financial Institutions that are treated as

registered deemed-compliant FFIs for purposes of section 1471 of the U.S. Internal Revenue Code:

1. Financial Institutions with Local Client Base. A Swiss Financial Institution that

meets all of the following requirements:

a) The Financial Institution must be licensed and regulated under the laws of Switzerland;

b) The Financial Institution must have no fixed place of business outside Switzerland;

c) The Financial Institution must not solicit account holders outside Switzerland. For this purpose, a Financial Institution shall not be considered to have solicited account holders outside of Switzerland merely because it operates a website, provided that the website does not specifically indicate that the Financial Institution provides accounts or services to nonresidents or otherwise target or solicit U.S. customers;

d) The Financial Institution must be required under the tax laws of Switzerland to perform either information reporting or withholding of tax with respect to accounts held by residents of Switzerland;

e) At least 98 percent of the accounts by value provided by the Financial Institution must be held by residents (including residents that are entities) of Switzerland or a Member State of the European Union;

f) Subject to subparagraph (g), below, beginning on January 1, 2014, the