Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 II
ot required to treat an account as a U.S. Reportable Account if: a) Where the Account Holder information unambiguously indicates a U.S. place of birth , the Reporting Canadian Financial Institution obtains, or has previously reviewed and maintains a record of: (1) A self-certification that the Account Holder is neither a U.S. citizen nor a U.S. resident for tax purposes (which may be on an IRS Form W-8 or other similar agreed form); (2) A non-U.S. passport or other government-issued identification evidencing the Account Holder’s citizenship or nationality in a country other than the United States; and (3) A copy of the Account Holder’s Certificate of Loss of Nationality of the United States or a reasonable explanation of: a The reason the Account Holder does not have such a certificate despite relinquishing U.S. citizenship; or b The reason the Account Holder did not obtain U.S. citizenship at birth. b) Where the Account Holder information contains a current U.S. mailing or residence address, or one or more U.S. telephone numbers that are the only telephone numbers associated with the account , the Reporting Canadian Financial Institution obtains, or has previously reviewed and maintains a record of: (1) A self-certification that the Account Holder is neither a U.S. citizen nor a U.S. resident for tax purposes (which may be on an IRS Form W-8 or other similar agreed form); and (2) Documentary evidence, as defined in paragraph D of section VI of this Annex I, establishing the Account Holder’s non-U.S. status. c) Where the Account Holder information contains standing instructions to transfer funds to an account maintained in the United States , the Reporting Canadian Financial Institution obtains, or has previously reviewed and maintains a record of: (1) A self-certification that the Account Holder is neither a U.S. citizen nor a U.S. resident for tax purposes (which may be on an IRS Form W-8 or other similar agreed form); and (2) Documentary evidence, as defined in paragraph D of section VI of this Annex I, establishing the Account Holder’s non-U.S. status. d) Where the Account Holder information contains a currently effective power of attorney or signatory authority granted to a person with a U.S. address, has an “in-care-of” address or “hold mail” address that is the sole address identified for the Account Holder, or has one or more U.S. telephone numbers (if a non-U.S. telephone number is also associated with the account) , the Reporting Canadian Financial Institution obtains, or has previously reviewed and maintains a record of: (1) A self-certification that the Account Holder is neither a U.S. citizen nor a U.S. resident for tax purposes (which may be on an IRS Form W-8 or other similar agreed form); or (2) Documentary evidence, as defined in paragraph D of section VI of this Annex I, establishing the Account Holder’s non-U.S. status. C Additional Procedures Applicable to Preexisting Individual Accounts That Are Lower Value Accounts 1 Review of Preexisting Individual Accounts that are Lower Value Accounts for U.S. indicia must be completed by June 30, 2016. 2 If there is a change of circumstances with respect to a Preexisting Individual Account that is a Lower Value Account that results in one or more U.S. indicia described in subparagraph B(1) of this section being associated with the account, then the Reporting Canadian Financial Institution must treat the account as a U.S. Reportable Account unless subparagraph B(4) of this section applies. 3 Except for Depository Accounts described in subparagraph A(4) of this section, any Preexisting Individual Account that has been identified as a U.S. Reportable Account under this section shall be treated as a U.S. Reportable Account in all subsequent years, unless the Account Holder ceases to be a Specified U.S. Person. D Enhanced Review Procedures for Preexisting Individual Accounts with a Balance or Value That Exceeds $1,000,000 as of June 30, 2014, or December 31, of 2015 or Any