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Reportable account information exchange requires annual automatic transmission of specified account-holder and account details between treaty parties. Article 2 requires each Party to obtain and annually exchange on an automatic basis specified information for all Reportable Accounts, including Account Holder and Controlling Person identification, account identifiers, the Reporting Financial Institution's identity, and account balance or value. It mandates additional reporting for custodial, depository, and other accounts of gross interest, dividends, other income, and gross proceeds or redemption payments. The Article distinguishes reporting fields for each Party-India reporting U.S. TINs and Specified U.S. Person details identified under Annex I due diligence; the United States reporting Indian TINs and specified U.S.-source income categories.
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Reportable account information exchange requires annual automatic transmission of specified account-holder and account details between treaty parties.
Article 2 requires each Party to obtain and annually exchange on an automatic basis specified information for all Reportable Accounts, including Account Holder and Controlling Person identification, account identifiers, the Reporting Financial Institution's identity, and account balance or value. It mandates additional reporting for custodial, depository, and other accounts of gross interest, dividends, other income, and gross proceeds or redemption payments. The Article distinguishes reporting fields for each Party-India reporting U.S. TINs and Specified U.S. Person details identified under Annex I due diligence; the United States reporting Indian TINs and specified U.S.-source income categories.
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