Common use of Alternative Procedures for New Entity Accounts Clause in Contracts

Alternative Procedures for New Entity Accounts. Opened on or after July 1, 2014, and before January 1, 2015. For New Entity Accounts opened on or after July 1, 2014, and before January 1, 2015, either with respect to all New Entity Accounts or, separately, with respect to any clearly identified group of such accounts, Slovak Republic may permit Reporting Slovak Republic Financial Institutions to treat such accounts as Preexisting Entity Accounts and apply the due diligence procedures related to Preexisting Entity Accounts specified in section IV of this Annex I in lieu of the due diligence procedures specified in section V of this Annex I. In this case, the due diligence procedures of section IV of this Annex I must be applied without regard to the account balance or value threshold specified in paragraph A of section IV of this Annex I. Xxxxx XX The following Entities are treated as exempt beneficial owners or deemed-compliant FFIs, as the case may be, and the following accounts are excluded from the definition of Financial Accounts. This Xxxxx XX may be modified by a mutual written decision entered into between the Competent Authorities of the United States and the Slovak Republic: (1) to include additional Entities and accounts that present a low risk of being used by U.S. Persons to evade U.S. tax and that have similar characteristics to the Entities and accounts described in this Xxxxx XX as of the date of signature of the Agreement; or (2) to remove Entities and accounts that, due to changes in circumstances, no longer present a low risk of being used by U.S. Persons to evade U.S. tax. Any such addition or removal shall be effective on the date of signature of the mutual decision, unless otherwise provided therein.

Alternative Procedures for New Entity Accounts. Opened on or after July 1, 2014, and before January 1, 2015. For New Entity Accounts opened on or after July 1, . 2014, and before January 1, 2015, either with respect to all New Entity Accounts or, . separately, with respect to any clearly identified group of such accounts, Slovak Republic India may permit Reporting Slovak Republic Indian Financial Institutions to treat such accounts as Preexisting Entity Accounts and apply the due diligence procedures related to t Preexisting Entity Accounts specified in section IV of this Annex I in lieu of the due du diligence procedures specified in section V of this Annex I. I In this case, the due du diligence procedures of section IV of this Annex I must be applied without regard to t the account balance or value threshold specified in paragraph A of section IV of this Annex I. Xxxxx XX Annex II The following Entities are shall be treated as exempt beneficial owners or deemed-compliant FFIs, as the case may be, and the following accounts are excluded from the definition of Financial Accounts. This Xxxxx XX Annex II may be modified by a mutual written decision entered into between the Competent Authorities of India and the United States and the Slovak RepublicStates: (1I) to include additional Entities and accounts that present a low risk of being used by U.S. Persons to evade U.S. tax and that have similar characteristics to the Entities and accounts described in this Xxxxx XX Annex II as of the date of signature of the Agreement; or (2) to remove Entities and accounts that, due to changes in circumstances, no longer present a low risk of being used by U.S. Persons to evade U.S. tax. Any such addition or removal shall be effective on the date of signature of the mutual decision, unless otherwise provided therein. Procedures for reaching such a mutual decision may be included in the mutual agreement or arrangement described in paragraph 6 of Article 3 of the Agreement.

Alternative Procedures for New Entity Accounts. Opened on or after July 1, 2014, and before January 1, 2015. For New Entity Accounts opened on or after July 1, . 2014, and before January 1, 2015, either with respect to all New Entity Accounts or, . separately, with respect to any clearly identified group of such accounts, Slovak Republic India may permit Reporting Slovak Republic Indian Financial Institutions to treat such accounts as Preexisting Entity Accounts and apply the due diligence procedures related to t Preexisting Entity Accounts specified in section IV of this Annex I in lieu of the due du diligence procedures specified in section V of this Annex I. I In this case, the due du diligence procedures of section IV of this Annex I must be applied without regard to t the account balance or value threshold specified in paragraph A of section IV of this Annex I. Xxxxx XX The following Entities are shall be treated as exempt beneficial owners or deemed-compliant FFIs, as the case may be, and the following accounts are excluded from the definition of Financial Accounts. This Xxxxx XX Annex II may be modified by a mutual written decision entered into between the Competent Authorities of India and the United States and the Slovak RepublicStates: (1I) to include additional Entities and accounts that present a low risk of being used by U.S. Persons to evade U.S. tax and that have similar characteristics to the Entities and accounts described in this Xxxxx XX Annex II as of the date of signature of the Agreement; or (2) to remove Entities and accounts that, due to changes in circumstances, no longer present a low risk of being used by U.S. Persons to evade U.S. tax. Any such addition or removal shall be effective on the date of signature of the mutual decision, unless otherwise provided therein. Procedures for reaching such a mutual decision may be included in the mutual agreement or arrangement described in paragraph 6 of Article 3 of the Agreement.

Alternative Procedures for New Entity Accounts. Opened on or after July 1, 2014the Determination Date, and before January 1, 2015. For New Entity Accounts opened on or after July 1, 2014the Determination Date, and before January 1, 2015, either with respect to all New Entity Accounts or, separately, with respect to any clearly identified group of such accounts, Slovak Republic may permit Reporting Slovak Republic Macao SAR Financial Institutions to may treat such accounts as Preexisting Entity Accounts and apply the due diligence procedures related to Preexisting Entity Accounts specified in section IV of this Annex I in lieu of the due diligence procedures specified in section V of this Annex I. In this case, the due diligence procedures of section IV of this Annex I must be applied without regard to the account balance or value threshold specified in paragraph A of section IV of this Annex I. Xxxxx XX ANNEX II The following Entities are shall be treated as exempt beneficial owners or deemed-compliant FFIs, as the case may be, and the following accounts are excluded from the definition of Financial Accounts. This Xxxxx XX Annex II may be modified by a mutual written decision entered into between the Competent Authorities of the United States and the Slovak RepublicMacao SAR: (1) to include additional Entities and accounts that present a low risk of being used by U.S. Persons to evade U.S. tax and that have similar characteristics to the Entities and accounts described in this Xxxxx XX Annex II as of the date of signature of the Agreement; or (2) to remove Entities and accounts that, due to changes in circumstances, no longer present a low risk of being used by U.S. Persons to evade U.S. tax. Any such addition or removal shall be effective on the date of signature of the mutual decision, unless otherwise provided therein.