II SÉRIE-A — NÚMERO 78 50

not required to perform the paper record search described in subparagraph D(2) of this section if the Reporting

Portuguese Financial Institution’s electronically searchable information includes the following:

a) The Account Holder’s nationality or residence status;

b) The Account Holder’s residence address and mailing address currently on file with the Reporting Portuguese

Financial Institution;

c) The Account Holder’s telephone number(s) currently on file, if any, with the Reporting Portuguese Financial

Institution;

d) Whether there are standing instructions to transfer funds in the account to another account (including an account

at another branch of the Reporting Portuguese Financial Institution or another Financial Institution);

e) Whether there is a current “in-care-of” address or “hold mail” address for the Account Holder; and

f) Whether there is any power of attorney or signatory authority for the account.

4. Relationship Manager Inquiry for Actual Knowledge. In addition to the electronic and paper record searches

described above, the Reporting Portuguese Financial Institution must treat as a U.S. Reportable Account any

High Value Account assigned to a relationship manager (including any Financial Accounts aggregated with such

High Value Account) if the relationship manager has actual knowledge that the Account Holder is a Specified

U.S. Person.

5. Effect of Finding U.S. Indicia.

a) If none of the U.S. indicia listed in subparagraph B(1) of this section are discovered in the enhanced review of

High Value Accounts described above, and the account is not identified as held by a Specified U.S. Person in

subparagraph D(4) of this section, then no further action is required until there is a change in circumstances that

results in one or more U.S. indicia being associated with the account.

b) If any of the U.S. indicia listed in subparagraph B(1) of this section are discovered in the enhanced review of High

Value Accounts described above, or if there is a subsequent change in circumstances that results in one or more

U.S. indicia being associated with the account, then the Reporting Portuguese Financial Institution must treat the

account as a U.S. Reportable Account unless it elects to apply subparagraph B(4) of this section and one of the

exceptions in such subparagraph applies with respect to that account.

c) Except for Depository Accounts described in subparagraph A(4) of this section, any Preexisting Individual

Account that has been identified as a U.S. Reportable Account under this section shall be treated as a U.S.

Reportable Account in all subsequent years, unless the Account Holder ceases to be a Specified U.S. Person.

E. Additional Procedures Applicable to High Value Accounts.

1. If a Preexisting Individual Account is a High Value Account as of June 30, 2014, the Reporting Portuguese

Financial Institution must complete the enhanced review procedures described in paragraph D of this section

with respect to such account by June 30, 2015. If based on this review such account is identified as a U.S.

Reportable Account on or before December 31, 2014, the Reporting Portuguese Financial Institution must report

the required information about such account with respect to 2014 in the first report on the account and on an

annual basis thereafter. In the case of an account identified as a U.S. Reportable Account after December 31,

2014 and on or before June 30, 2015, the Reporting Portuguese Financial Institution is not required to report

information about such account with respect to 2014, but must report information about the account on an annual

basis thereafter.

2. If a Preexisting Individual Account is not a High Value Account as of June 30, 2014, but becomes a High Value

Account as of the last day of 2015 or any subsequent calendar year, the Reporting Portuguese Financial

Institution must complete the enhanced review procedures described in paragraph D of this section with respect

to such account within six months after the last day of the calendar year in which the account becomes a High

Value Account. If based on this review such account is identified as a U.S. Reportable Account, the Reporting

Portuguese Financial Institution must report the required information about such account with respect to the year

in which it is identified as a U.S. Reportable Account and subsequent years on an annual basis, unless the

Account Holder ceases to be a Specified U.S. Person.

3. Once a Reporting Portuguese Financial Institution applies the enhanced review procedures described in

paragraph D of this section to a High Value Account, the Reporting Portuguese Financial Institution is not required