05.00 – Pre-existing Individual Accounts

A Pre-existing Individual Account is a Financial Account maintained by a Financial Institution as of 30 June 2014. Pre-existing Accounts will fall into one of four categories depending on the balance or value of the account. These are:

  • Financial Accounts below the threshold exemption limit
  • Cash Value Insurance Contracts and Annuity Contracts unable to be sold to US residents
  • Lower Value Accounts
  • High Value Accounts.