Acta Francisci Pp. 665

2. Subject to subparagraph E(2) of this section, a Preexisting Individual Account that is a Cash Value Insurance Contract or an Annuity Contract with a balance or value of $250,000 or less as of the Determination Date.

3. A Preexisting Individual Account that is a Cash Value Insurance Con- tract or an Annuity Contract, provided the law or regulations of the Holy See or the Vatican City State or the United States effectively prevent the sale of such a Cash Value Insurance Contract or an Annuity Contract to U.S. residents.

4. A Depository Account with a balance of $50,000 or less.

B. Review Procedures for Preexisting Individual Accounts With a Balance or Value as of the Determination Date, that Exceeds $50,000 ($250,000 for a Cash Value Insurance Contract or Annuity Contract), But Does Not Exceed $1,000,000 ("Lower Value Accounts").

1. Electronic Record Search. The Reporting HS/VCS Institution must re- view electronically searchable data maintained by the Reporting HS/ VCS Financial Institution for any of the following U.S. indicia: a) Identification of the Account Holder as a U.S. citizen or resident; b) Unambiguous indication of a U.S. place of birth; c) Current U.S. mailing or residence address (including a U.S. post office

box); d) Current U.S. telephone number; e) Standing instructions to transfer funds to an account maintained in

the United States; f) Currently effective power of attorney or signatory authority granted

to a person with a U.S. address; or

g) An "in-care-of" or "hold mail" address that is the sole address the Reporting HS/VCS Financial Institution has on file for the Account Holder. In the case of a Preexisting Individual Account that is a Low- er Value Account, an "in-care-of" address outside the United States or "hold mail" address shall not be treated as U.S. indicia.

2. If none of the U.S. indicia listed in subparagraph B(1) of this section are discovered in the electronic search, then no further action is required until there is a change in circumstances that results in one or more U.S. indicia being associated with the account, or the account becomes a High Value Account described in paragraph D of this section.

3. If any of the U.S. indicia listed in subparagraph B(1) of this section are dis- covered in the electronic search, or if there is a change in circumstances that