For Ffi Agreements What Must Ffi Include

20 Sep For Ffi Agreements What Must Ffi Include

(C) requirements that follow a change in circumstances. With respect to an individual account or an account held by a passive NFFE, where circumstances change with respect to information relating to its owners, the participating IFF shall, as a result of a change in circumstances, retain within the period set out in subsections 1.1471 to 5(3) (iii) or, if this is not possible, the appropriate documents described in section (c) (3) or (c) (iv) (B) (2) of this section; this account must be treated as if it were held by a recalcitrant account holder. With respect to an account taken by an enterprise other than the liability ETF, as described in the sentence above, the participating IFE shall keep, or if this is not possible, a record of the corresponding documents described in paragraph (c) (3) of this section, following a change in circumstances, until the date of 90 days following the change in circumstances: this account should be treated as if it were held by a non-participating IFF. . . .

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