02.0701 – Thresholds

The threshold exemptions for the International Tax Compliance (Crown Dependencies and Gibraltar) Regulations 2014 are the same as those for the International Tax Compliance (United States of America) Regulations 2014.

All requirements should be read as subject to the thresholds as set out in Annex I to the Agreements. If a Financial Institution does not maintain any accounts that are above the relevant thresholds (see sections 5.1, 6.1 and 7.1 of the US Guidance) after aggregation, then they may not have to undertake due diligence or report on any account holders.N.B.: as for the US obligations there are no threshold exemptions for new entity accounts.