Acta Francisci Pp. 685

Account or as an account held by a Nonparticipating Financial Insti- tution, as applicable, by the date that is the later of: (i) September 30 next following the date that the account is identified as a U.S. Report- able Account or as an account held by a Nonparticipating Financial Institution, as applicable, or (ii) 90 days after the account is identified as a U.S. Reportable Account or as an account held by a Nonpartici- pating Financial Institution, as applicable. The information required to be reported with respect to such a New Account is any information that would have been reportable under this Agreement if the New Account had been identified as a U.S. Reportable Account or as an account held by a Nonparticipating Financial Institution, as applica- ble, as of the date the account was opened.

c) By the date that is one year after the date of entry into force of this Agreement, Reporting HS/VCS Financial Institutions must close any New Account described in subparagraph G(1) of this section for which it was unable to collect the required self-certification or other doc- umentation pursuant to the procedures described in subparagraph G(2)(a) of this section. In addition, by the date that is one year after the date of entry into force of this Agreement, Reporting HS/VCS Financial Institutions must: (i) with respect to such closed accounts that prior to such closure were New Individual Accounts (without re- gard to whether such accounts were High Value Accounts), perform the due diligence procedures specified in paragraph D of section II of this Annex I, or (ii) with respect to such closed accounts that prior to such closure were New Entity Accounts, perform the due diligence procedures specified in section IV of this Annex I.

d) the HS/VCS must report on any closed account that is identified pur- suant to subparagraph G(2)(c) of this section as a U.S. Reportable Account or as an account held by a Nonparticipating Financial Insti- tution, as applicable, by the date that is the later of: (i) September 30 next following the date that the account is identified as a U.S. Report- able Account or as an account held by a Nonparticipating Financial Institution, as applicable, or (ii) 90 days after the account is identified as a U.S. Reportable Account or as an account held by a Nonpartici- pating Financial Institution, as applicable. The information required

to be reported for such a closed account is any information that would

have been reportable under this Agreement if the account had been