Vorlage

(ii) the account is tax-favoured (i.e., contributions to the account that would otherwise

be subject to tax are deductible or excluded from the gross income of the Account Holder or taxed at a reduced rate, or taxation of investment income from the account is deferred or taxed at a reduced rate);

(iii) information reporting is required to the tax authorities with respect to the account;

(iv) withdrawals are conditioned on reaching a specified retirement age, disability, or

death, or penalties apply to withdrawals made before such specified events; and

(v) either (i) annual contributions are limited to USD 50 000 or an equivalent amount

denominated in the domestic currency of each Member State or Switzerland or less, or (ii) there is a maximum lifetime contribution limit to the account of USD 1 000 000 or an equivalent amount denominated in the domestic currency of each Member State or Switzerland or less, in each case applying the rules set forth in paragraph C of Section VII for account aggregation and currency translation.

A Financial Account that otherwise satisfies the requirement of subparagraph

C(17)(a)(v) will not fail to satisfy such requirement solely because such Financial Account may receive assets or funds transferred from one or more Financial Accounts that meet the requirements of subparagraph C(17)(a) or (b) or from one or more

retirement or pension funds that meet the requirements of any of subparagraphs B(5) to (7).

AMP/EU/CH/en 71