Institution, as applicable, by the date that is the later of: (i) September
30 next following the date that the account is identified as a U.S.
Reportable Account or as an account held by a Nonparticipating
Financial Institution, as applicable, or (ii) 90 days after the account is
identified as a U.S. Reportable Account or as an account held by a
Nonparticipating Financial Institution, as applicable. The information
required to be reported with respect to such a New Account is any
information that would have been reportable under this Agreement if
the New Account had been identified as a U.S. Reportable Account or
as an account held by a Nonparticipating Financial Institution, as
applicable, as of the date the account was opened.
c) By the date that is one year after the date of entry into force of
this Agreement, Reporting Cyprus Financial Institutions must close
any New Account described in subparagraph G(1) of this section for
which it was unable to collect the required self-certification or other
documentation pursuant to the procedures described in subparagraph
G(2)(a) of this section. In addition, by the date that is one year after
the date of entry into force of this Agreement, Reporting Cyprus
Financial Institutions must: (i) with respect to such closed accounts
that prior to such closure were New Individual Accounts (without
regard to whether such accounts were High Value Accounts), perform
the due diligence procedures specified in paragraph D of section II of
this Annex I, or (ii) with respect to such closed accounts that prior to
such closure were New Entity Accounts, perform the due diligence
procedures specified in section IV of this Annex I.
d) Cyprus must report on any closed account that is identified
pursuant to subparagraph G(2)(c) of this section as a U.S. Reportable
Account or as an account held by a Nonparticipating Financial
Institution, as applicable, by the date that is the later of: (i) September
30 next following the date that the account is identified as a U.S.
Reportable Account or as an account held by a Nonparticipating
Financial Institution, as applicable, or (ii) 90 days after the account is
identified as a U.S. Reportable Account or as an account held by a
Nonparticipating Financial Institution, as applicable. The information
required to be reported for such a closed account is any information
that would have been reportable under this Agreement if the account
had been identified as a U.S. Reportable Account or as an account held
by a Nonparticipating Financial Institution, as applicable, as of the date
the account was opened.
H. Alternative Procedures for New Entity Accounts Opened on or after July
1, 2014, and before January 1, 2015. For New Entity Accounts opened on or after
July 1, 2014, and before January 1, 2015, either with respect to all New Entity
Accounts or, separately, with respect to any clearly identified group of such accounts,
Cyprus may permit Reporting Cyprus Financial Institutions to treat such accounts as
Preexisting Entity Accounts and apply the due diligence procedures related to
Preexisting Entity Accounts specified in section IV of this Annex I in lieu of the due
diligence procedures specified in section V of this Annex I. In this case, the due