Specific Treatment of British Virgin Islands Retirement Plans Sample Clauses

Specific Treatment of British Virgin Islands Retirement Plans. The United States shall treat as deemed-compliant FFIs or exempt beneficial owners, as appropriate, for purposes of sections 1471 and 1472 of the U.S. Internal Revenue Code, British Virgin Islands retirement plans described in Annex II. For this purpose, a British Virgin Islands retirement plan includes an Entity established or located in, and regulated by, the British Virgin Islands, or a predetermined contractual or legal arrangement, operated to provide pension or retirement benefits or earn income for providing such benefits under the laws of the British Virgin Islands and regulated with respect to contributions, distributions, reporting, sponsorship, and taxation.
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