Information to be maintained and reported

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....,- (i) the name and address of the entity, taxpayer identification number assigned to the entity by the country or territory of its residence;^[3] (ii) the name, address, date and place of birth of each such controlling person and taxpayer identification number assigned to such controlling person by the country or territory of his residence; ^4[Provided that in the case of an account other than a U.S. reportable account, a reporting financial institution shall also - (i) maintain and report the role by virtue of which each reportable person is a controlling person of the entity and whether a valid self-certification has been provided for each reportable person; (ii) report whether the account is a joint account, including the number of joint Account Holders.] (c) the account number (or functional equivalent in the absence of an account number); ^5[Provided that in the case of an account other than a U.S. reportable account, a reporting financial institution shall also maintain and report the type of account and whether the account is a pre-existing account or a new account;] (d) the account balance or valu....

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.... to calendar year 2016, is the information referred to in clauses (a) to (h), with regard to all reportable accounts; (iv) with respect to calendar year 2017 and subsequent years, is the information referred to in clauses (a) to (g), with regard to all reportable accounts: Provided further that with respect to each U.S. reportable account which is maintained by a reporting financial institution as on the 30th June, 2014, the taxpayer identification number of any relevant person is not required to be reported if such taxpayer identification number is not in the records of the reporting financial institution. (2) For the purpose of sub-rule (1),- (a) "account holder" means the person listed or identified as the holder of a financial account by the financial institution that maintains the account: Provided that a person, other than a financial institution, holding a financial account for the benefit or on account of another person as agent, custodian, nominee, signatory, investment advisor, or intermediary, is not treated as holding the account, and such other person is treated as holding the account: Provided further that in the case of a cas....

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....ation number issued by such country or territory. (6) Notwithstanding anything contained in sub-rule (1), the place of birth is not required to be reported unless it is available in the electronically searchable data maintained by the reporting financial institution. ^9[(6A) Notwithstanding anything contained in sub-clause (ii) of clause (e) of sub-rule (1) and unless the reporting financial institution elects otherwise with respect to any clearly identified group of accounts, the gross proceeds from the sale or redemption of a financial asset are not required to be reported to the extent such gross proceeds from the sale or redemption of such financial asset are reported by the reporting financial institution under the Crypto-Asset Reporting Framework: Provided that the provisions of this sub-rule shall apply in respect of an account other than U.S. reportable account.] (7) The statement of reportable account required to be furnished under clause (k) of sub-section (1) of section 285BA shall be furnished by a reporting financial institution in respect of each account which has been identified, pursuant to due diligence procedure specified in rule 114H, as a reportable acc....

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....son designated by the reporting financial institution to ensure overall compliance with the obligations imposed under section 285BA and the rules made thereunder and includes- (i) the Managing Director or a whole-time Director, as defined in the Companies Act, 2013 (18 of 2013), duly authorised by the Board of Directors if the reporting financial institution is a company; (ii) the managing partner if the reporting financial institution is a partnership firm; (iii) the proprietor if the reporting financial institution is a proprietorship concern; (iv) the managing trustee if the reporting financial institution is a trust; (v) a person or individual, as the case may be, who controls and manages the affairs of the reporting financial institution if the reporting financial institution is an association of persons or a body of individuals, or any other person; (b) "Principal Officer" means an officer designated by the reporting financial institution; (c) "regulator" means a person or an authority or a Government which is vested with the power to license, authorise, register, regulate or supervise the activities of the report....