Memorandum of Understanding 

In connection with the signing on April 15, 2013 of the Agreement between the Government 

of the United States of America and the Government of the Kingdom of Norway to Improve 

International Tax Compliance and to Implement FA TCA (hereafter referred to as "the 

Agreement"), the Government of the United States of America and the Government of the 

Kingdom ofNorway have reached the following understandings concerning the Agreement: 

It is understood that, in the case of securities registered in a Norwegian Central Securities 

Depository (Verdipapirsentralen) as defined in Section 1-3 of the Norwegian Securities 

Register Act of July 5 2002, nr. 64 (Verdipapirregisterloven) that are held by or through one or 

more other Financial Institutions, the relevant Financial Accounts are to be treated as held by 

such other Financial Institutions, and such other Financial Institutions are to be responsible 

for any reporting required with respect to such Financial Accounts. Notwithstanding the 

foregoing, in accordance with paragraph 3 of Article 5 of the Agreement, the Central 

Securities Depository may report on behalf of such other Financial Institutions. 

In reference to paragraph 1 of Article 5 (direct inquiry by Competent Authority), it is 

understood that if a Financial Institution is prohibited by the taw of the Party in which it is 

located from providing information directly to the Competent Authority of the other Party, 

such information should be provided to the Competent Authority of the other Party through 

the Competent Authority of the Party in which it is located. In such case, the Competent 

Authority that requested the information from the Financial Institution would notify the 

Competent Authority of the other Party of the request for such information. 

In reference to paragraph 1 of Article 10 (Term of Agreement), the Government of the United 

States understands that the Government of Norway plans to present the Agreement to its 

parliament for its approval in 2013 and, to propose implementing legislation with the goal of 

having the Agreement enter into force by September 30, 2015. Based on this understanding, 

as of the date of signature of the Agreement, the United States Department of the Treasury 

intends to treat each Norwegian Financial Institution, as that term is defined in the 

Agreement, as complying with, and not subject to withholding under section 1471 of the U.S. 

Internal Revenue Code during such time as Norway is pursuing the necessary internal 

procedures for entry into force of the Agreement. The United States further understands that 

Norway's Ministry of Finance intends to contact the United States Department of the 

Treasury as soon as it is aware that there might be a delay in the Norwegian internal approval 

process for entry into force of the Agreement such that Norway would not be able to provide 

its notification under paragraph 1 of Article 10 of the Agreement prior to September 30, 

2015. If upon consultation with Norway, the United States receives credible assurances that 

such a delay is likely to be resolved in a reasonable period of time, the United States 

Department of the Treasury may decide to continue to apply FA TCA to Norwegian Financial 

Institutions in the manner described above as long as the United States Department of the 

Treasury assesses that Norway is likely to be able to send its notification under paragraph l of 

Article 1 0 by September 30, 2016. It is understood that should the Agreement enter into force 
after September 30, 2015, any information that would have been reportable under the 

Agreement thereafter (and prior to its entry into force) had the Agreement been in force by 

September 30, 2015, is owed on the September 30 next following the date of entry into force. 

In reference to paragraph B of Section I of Annex II 

It is understood that International Organizations to which the Immunity and Privileges for 

International Organization Act ofJune 19, 1947 nr. 5 within the meaning ofparagraph B of 

Section I of Annex II include solely international organizations that are intergovernmental 

organizations, including supranational organizations. 

This Memorandum becomes operative on the same date as the Agreement. 

Signed at Oslo in the English language, this 15th day of April, 2013. A Norwegian language 

version is to be finalized between the participants at a later date. 

For the Government of the 

United States of America