Annex I - Due Diligence Obligations for Identifying and Reporting on U.S. Reportable Accounts and on Payments to Certain Nonparticipating Financial Institutions

Due diligence for U.S. reportable accounts: banks must identify, document, and report US tax related accounts under FATCA obligations.

Reporting Indian Financial Institutions must apply prescribed due diligence to identify and report U.S. Reportable Accounts and accounts of Nonparticipating Financial Institutions. The Annex distinguishes Preexisting and New Accounts, sets monetary thresholds and timelines for lower value and high value reviews, requires electronic searches for U.S. indicia and enhanced paper record and relationship manager inquiries for high value accounts, allows rebuttal via self certification and documentary evidence, mandates aggregation and currency conversion rules, and prescribes reporting and alternative procedures where domestic authority or timing requires transitional measures.