Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 A
counts that a relationship manager knows, or has reason to know, are directly or indirectly owned, controlled, or established (other than in a fiduciary capacity) by the same person, to aggregate all such accounts. 4 Currency Translation Rule For purposes of determining the balance or value of Financial Accounts denominated in a currency other than the U.S. dollar, a Reporting Canadian Financial Institution must convert the U.S. dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Canadian Financial Institution is determining the balance or value. D Documentary Evidence For purposes of this Annex I, acceptable documentary evidence includes any of the following: 1 A certificate of residence issued by an authorized government body (for example, a government or agency thereof, or a municipality) of the jurisdiction in which the payee claims to be a resident. 2 With respect to an individual, any valid identification issued by an authorized government body (for example, a government or agency thereof, or a municipality), that includes the individual’s name and is typically used for identification purposes. 3 With respect to an Entity, any official documentation issued by an authorized government body (for example, a government or agency thereof, or a municipality) that includes the name of the Entity and either the address of its principal office in the jurisdiction (or U.S. Territory) in which it claims to be a resident or the jurisdiction (or U.S. Territory) in which the Entity was incorporated or organized. 4 With respect to a Financial Account maintained in a jurisdiction with anti-money laundering rules that have been approved by the IRS in connection with a QI agreement (as described in relevant U.S. Treasury Regulations), any of the documents, other than a Form W-8 or W-9, referenced in the jurisdiction’s attachment to the QI agreement for identifying individuals or Entities. 5 Any financial statement, third-party credit report, bankruptcy filing, or U.S. Securities and Exchange Commission report. E Alternative Procedures for Financial Accounts Held by Individual Beneficiaries of a Cash Value Insurance Contract A Reporting Canadian Financial Institution may presume that an individual beneficiary (other than the owner) of a Cash Value Insurance Contract receiving a death benefit is not a Specified U.S. Person and may treat such Financial Account as other than a U.S. Reportable Account unless the Reporting Canadian Financial Institution knows, or has reason to know, that the beneficiary is a Specified U.S. Person. A Reporting Canadian Financial Institution has reason to know that a beneficiary of a Cash Value Insurance Contract is a Specified U.S. Person if the information collected by the Reporting Canadian Financial Institution and associated with the beneficiary contains U.S. indicia as described in subparagraph (B)(1) of section II of this Annex I. If a Reporting Canadian Financial Institution knows, or has reason to know, that the beneficiary is a Specified U.S. Person, the Reporting Canadian Financial Institution must follow the procedures in subparagraph B(3) of section II of this Annex I. F Reliance on Third Parties Regardless of whether an election is made under paragraph C of section I of this Annex I, Canada may permit Reporting Canadian Financial Institutions to rely on due diligence procedures performed by third parties, to the extent provided in relevant U.S. Treasury Regulations.