Vorlage

(b) in the case of a Depository Account, by the Financial Institution that is obligated to

make payments with respect to the account (excluding an agent of a Financial

Institution regardless of whether such agent is a Financial Institution).

(c) in the case of any equity or debt interest in a Financial Institution that constitutes a

Financial Account, by such Financial Institution.

(d) in the case of a Cash Value Insurance Contract or an Annuity Contract, by the Financial

Institution that is obligated to make payments with respect to the contract.

5. Trusts that are Passive NFEs

An Entity such as a partnership, limited liability partnership or similar legal arrangement that has no residence for tax purposes, according to subparagraph D(3) of Section VIII of Annex I, shall be treated as resident in the jurisdiction in which its place of effective management is situated. For these purposes, a legal person or a legal arrangement is considered "similar" to a partnership and a limited liability partnership where it is not treated as a taxable unit in a Reportable Jurisdiction under the tax laws of such Reportable Jurisdiction. However, in order to avoid duplicate reporting (given the wide scope of the term "Controlling Persons" in the case of trusts), a trust that is a Passive NFE may not be considered a similar legal

arrangement.

AMP/EU/CH/en 91