Determine Whether. a Financial Institution is a Nonparticipating Financial Institution Payments to Which Are Subject to Aggregate Reporting Under Paragraph 1(b) of Article 4 of the Agreement. a) Subject to subparagraph (b) of this paragraph, if the account holder is a Danish Financial Institution or other Partner Jurisdiction Financial Institution, then no further review, identification, or reporting is required with respect to the account. b) A Danish Financial Institution or other Partner Jurisdiction Financial Institution shall be treated as a Nonparticipating Financial Institution if it is identified as such by the IRS pursuant to paragraph 2 of Article 5 of the Agreement. c) If the account holder, is not a Danish Financial Institution or other Partner Jurisdiction Financial Institution, then the Reporting Danish Financial Institution must treat the entity as a Nonparticipating Financial Institution payments to which are reportable under paragraph 1(b) of Article 4 of the Agreement, unless the Reporting Danish Financial Institution:
Appears in 2 contracts
Sources: International Tax Compliance Agreement, International Tax Compliance Agreement