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HMRC internal manual

International Exchange of Information Manual

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HM Revenue & Customs
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Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Records Search: Mailing or Residence Address

Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Electronic Records Search: Mailing or Residence Address

Where the indicia found during the electronic search indicates a current mailing or residence address (including a post office box) in a Reportable Jurisdiction the account will be a Reportable Account subject to applying the curing procedure for this indicium [see IEIM402880].

A mailing or residence address is considered to be current for this purpose where it is the most recent address recorded by the Financial Institution with respect to the Account Holder. Where the account is a dormant account the mailing or residence address attached to the account can be considered as ‘current’ during the period of dormancy.

Where the Financial Institution has recorded two or more mailing or residence addresses in different Reportable Jurisdictions, the Account Holder and details of the account are potentially reportable to multiple jurisdictions. However, where one or more of those addresses is for a service provider of the Account Holder, for example, an asset manager, investment advisor or lawyer, the Financial Institution is not required to treat the service provider’s address as an indication of residence.