Common use of Additional Procedures Applicable to High Value Accounts Clause in Contracts

Additional Procedures Applicable to High Value Accounts. 1. If a Preexisting Individual Account is a High Value Account as of December 31, 2013, the Reporting Irish Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by December 31, 2014. If based on this review such account is identified as a U.S. Reportable Account, the Reporting Irish Financial Institution must report the required information about such account with respect to 2013 and 2014 in the first report on the account. For all subsequent years, information about the account should be reported on an annual basis.