Preexisting entity accounts definition

Preexisting entity accounts means preexisting entity financial accounts opened with a Reporting Financial Institution as of 30 June 2014.
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Examples of Preexisting entity accounts in a sentence

  • Preexisting entity accounts must be reviewed within two years from the time the automatic exchange of information with a partner jurisdiction becomes applicable.

  • Preexisting Entity Accounts Preexisting entity accounts are exempt from review under the regulations if the account balance is $250,000 or less.

  • Preexisting entity accounts IV.D.1.a▪ Two indicators for the identification of a preexisting entity account as a Specified U.S. PersonSection IV.D.1.a of Annex I prescribes that when answering the question whether an entity is a U.S. Person the FI must review whether the preexisting account holder that is an entity is established in or incorporated under the laws of the U.S.A, or has a U.S. address.

  • Pre-existing entity accounts Accounts held by an entity (such as a trust, partnership or company) that are open as of 31st December 2016.

  • This is important because a Reporting NZFI cannot rely on a self-certification or documentary evidence if they know or have reason to know that it is incorrect or unreliable.• Pre-existing entity accounts: Accounts held by an entity (such as a trust, partnership or company) that are open as of 30 June 2017.

  • Pre-existing entity accounts with a balance or value that does not exceed $250,000 at December 31st 2013, but exceeds $1,000,000 as of December 31 of any subsequent year, must be completed by 30 June of the following year.

  • Preexisting entity accounts with account balances of $250,000 or less are exempt from review until the account balance exceeds $1,000,000.

  • A Reporting NZFI is able to choose not to adopt this threshold exclusion.• Pre-existing entity accounts: A USD1,000,000 balance or value test (which a Reporting NZFI can simply treat as NZD1,000,000), which will determine what due diligence process the Reporting NZFI needs to follow to identify whether any of a passive NFE's controlling persons are foreign tax residents.

  • For Higher Value Accounts (balance more than USD 1,000,000) – enhanced due diligence procedures including paper record search and an actual knowledge test by relationship manager(b) New individual accounts – No threshold - self-certification based on KYC/AML rules and the confirmation of its reasonableness(c) Pre-existing entity accounts (No review if balance below USD 250,000) - Financial Institutions are required to determinei.

  • Preexisting entity accounts of US $250,000 or less are exempt from review.

Related to Preexisting entity accounts

  • Preexisting Account means a Financial Account maintained by a Reporting Financial Institution as of June 30, 2014.

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Sub-Accounts means the respective Sub-Accounts of the Escrow Account, into which the monies specified in Clause 4.1 would be credited every month and paid out if due, and if not due in a month then appropriated proportionately in such month and retained in the respective Sub Accounts and paid out therefrom on the Payment Date(s).

  • Separate Accounts means the accounts which are to be prepared for each

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Excluded Accounts means any Xxxxx Cash Account and any other deposit account used for (a) funding payroll or segregating payroll taxes or funding other employee wage or benefit payments, (b) segregating 401(k) contributions or contributions to an employee stock purchase plan or (c) funding other employee health and benefit plans.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Company-Sponsored Equity Account means an account that is created with the Equity Account Administrator in connection with the administration of the Company’s equity plans and programs, including the Plan.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

  • Personal Account means any account owned by, or in the name of, an OppenheimerFunds Employee or Access Person in which Securities may be held or any such account in which an Employee (including an Access or Investment Person) has a Beneficial Interest.

  • Management Accounts means unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Excluded Assets has the meaning set forth in Section 2.2.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Deposit Accounts means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of a Debtor.

  • Interim Accounts means the unaudited consolidated quarterly financial statements of the Issuer for the quarterly period ending on each 31 March, 30 June, 30 September and 31 December in each year, prepared in accordance with GAAP.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Commodities Accounts (i) shall mean all “commodity accounts” as defined in Article 9 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4 under the heading “Commodities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Intercompany Accounts has the meaning set forth in Section 2.03(a).

  • Accounts Receivable Subsidiary means any Wholly Owned Subsidiary of the Company (i) which is formed solely for the purpose of, and which engages in no activities other than activities in connection with, financing accounts receivable of the Company and/or its Restricted Subsidiaries, (ii) which is designated by the Company as an Accounts Receivables Subsidiary pursuant to an Officer’s Certificate delivered to the Trustee, (iii) no portion of Indebtedness or any other obligation (contingent or otherwise) of which is at any time recourse to or obligates the Company or any Restricted Subsidiary in any way, or subjects any property or asset of the Company or any Restricted Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to (a) representations, warranties and covenants (or any indemnity with respect to such representations, warranties and covenants) entered into in the ordinary course of business in connection with the sale (including a sale in exchange for a promissory note of or Equity Interest in such Accounts Receivable Subsidiary) of accounts receivable to such Accounts Receivable Subsidiary or (b) any guarantee of any such accounts receivable financing by the Company or any Restricted Subsidiary that is permitted to be incurred pursuant to Section 4.06, (iv) with which neither the Company nor any Restricted Subsidiary of the Company has any contract, agreement, arrangement or understanding other than contracts, agreements, arrangements and understandings entered into in the ordinary course of business in connection with the sale (including a sale in exchange for a promissory note of or Equity Interest in such Accounts Receivable Subsidiary) of accounts receivable in accordance with Section 4.17 and fees payable in the ordinary course of business in connection with servicing accounts receivable and (v) with respect to which neither the Company nor any Restricted Subsidiary of the Company has any obligation (a) to subscribe for additional shares of Capital Stock or other Equity Interests therein or make any additional capital contribution or similar payment or transfer thereto other than in connection with the sale (including a sale in exchange for a promissory note of or Equity Interest in such Accounts Receivable Subsidiary) of accounts receivable to such Accounts Receivable Subsidiary in accordance with Section 4.17 or (b) to maintain or preserve the solvency, any balance sheet term, financial condition, level of income or results of operations thereof.