674 Acta Apostolicae Sedis - Commentarium Officiale

mation in its possession or that is publicly available, that the Account Holder is not a Specified U.S. Person.

2. Determine Whether a Non-U.S. Entity Is a Financial Institution.

a) Review information maintained for regulatory or customer relation- ship purposes (including information collected pursuant to AML/ KYC Procedures) to determine whether the information indicates that the Account Holder is a Financial Institution.

b) If the information indicates that the Account Holder is a Financial Institution, or the Reporting HS/VCS Financial Institution verifies the Account Holder's Global Intermediary Identification Number on the published IRS FFI list, then the account is not a U.S. Reportable Account.

3. Determine Whether a Financial Institution Is a Nonparticipating Finan- cial Institution Payments to Which Are Subject to Aggregate Reporting Under Subparagraph 1(b) of Article 4 of the Agreement.

a) Subject to subparagraph D(3)(b) of this section, a Reporting HS/VCS Financial Institution may determine that the Account Holder is a HS/ VCS Financial Institution or other Partner Jurisdiction Financial In- stitution if the Reporting HS/VCS Financial Institution reasonably determines that the Account Holder has such status on the basis of the Account Holder's Global Intermediary Identification Number on the published IRS FFI list or other information that is publicly avail- able or in the possession of the Reporting HS/VCS Financial Institu- tion, as applicable. In such case, no further review, identification, or reporting is required with respect to the account.

b) If the Account Holder is a HS/VCS Financial Institution or other Partner Jurisdiction Financial Institution treated by the IRS as a Nonparticipating Financial Institution, then the account is not a U.S. Reportable Account, but payments to the Account Holder must be reported as contemplated in subparagraph 1(b) of Article 4 of the Agreement.

c) If the Account Holder is not a HS/VCS Financial Institution or other Partner Jurisdiction Financial Institution, then the Reporting HS/ VCS Financial Institution must treat the Account Holder as a Non-

participating Financial Institution payments to which are reportable