|A financial account is an account maintained by a financial institution. Only accounts that fall within any of the five categories of financial account defined by the various automatic exchange of information agreements need to be reviewed. Where such an account is held by a Reportable Person it becomes a Reportable Account.
The five categories of financial account that need to be reviewed are:
Certain financial accounts are seen to be low-risk of being used to evade tax and are specifically excluded from needing to be reviewed. Details of these Excluded Accounts are at.