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HMRC internal manual

International Exchange of Information Manual

From
HM Revenue & Customs
Updated
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Due Diligence: Pre-Existing Individual Accounts: Higher Value Accounts: Undocumented Accounts

Due Diligence: Pre-Existing Individual Accounts: Higher Value Accounts: Undocumented Accounts

CRS and DAC Only

An undocumented account can only exist for CRS and the DAC reporting purposes. An undocumented account exists where the conditions at [see IEIM403040] exist, that is, the only indicators that the Financial Institution hold are a hold mail or in-care-of address and the Financial Institution has been unable to obtain a self-certification from the Account Holder to cure the information held.

Where the Financial Institution has identified and reported an account as an undocumented account the Financial Institution must repeat the enhanced review for high value individual accounts annually until the account ceases to be undocumented.