Common use of Entity Accounts Not Required to Be Reviewed, Identified or Reported Clause in Contracts

Entity Accounts Not Required to Be Reviewed, Identified or Reported. Unless the Reporting [FATCA Partner] Financial Institution elects otherwise, where the implementing rules in [FATCA Partner] provide for such an election, Preexisting Entity Accounts with account balances that do not exceed $250,000 as of December 31, 2013, are not required to be reviewed, identified, or reported as U.S. Reportable Accounts until the account balance exceeds $1,000,000.

Entity Accounts Not Required to Be Reviewed, Identified or Reported. Unless the Reporting [FATCA Partner] Financial Institution elects otherwise, where the implementing rules in [FATCA Partner] provide for such an election, Preexisting Preexist- ing Entity Accounts with account balances that do not exceed $250,000 as of December Decem- ber 31, 2013, are not required to be reviewed, identified, or reported as U.S. Reportable Accounts until the account balance exceeds $1,000,000.