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Subject to Aggregate Reporting Under Subparagraph 1(b) of Article 4 of the Agreement.

a) Subject to subparagraph D(3)(b) of this section, a Reporting Portuguese Financial Institution may determine that

the Account Holder is a Portuguese Financial Institution or other Partner Jurisdiction Financial Institution if the

Reporting Portuguese Financial Institution reasonably determines that the Account Holder has such status on

the basis of the Account Holder’s Global Intermediary Identification Number on the published IRS FFI list or other

information that is publicly available or in the possession of the Reporting Portuguese Financial Institution, as

applicable. In such case, no further review, identification, or reporting is required with respect to the account.

b) If the Account Holder is a Portuguese Financial Institution or other Partner Jurisdiction Financial Institution treated

by the IRS as a Nonparticipating Financial Institution, then the account is not a U.S. Reportable Account, but

payments to the Account Holder must be reported as contemplated in subparagraph 1(b) of Article 4 of the

Agreement.

c) If the Account Holder is not a Portuguese Financial Institution or other Partner Jurisdiction Financial Institution,

then the Reporting Portuguese Financial Institution must treat the Account Holder as a Nonparticipating Financial

Institution payments to which are reportable under subparagraph 1(b) of Article 4 of the Agreement, unless the

Reporting Portuguese Financial Institution:

(1) Obtains a self-certification (which may be on an IRS Form W-8 or similar agreed form) from the Account Holder

that it is a certified deemed-compliant FFI, or an exempt beneficial owner, as those terms are defined in relevant

U.S. Treasury Regulations; or

(2) In the case of a participating FFI or registered deemed-compliant FFI, verifies the Account Holder’s Global

Intermediary Identification Number on the published IRS FFI list.

4. Determine Whether an Account Held by an NFFE Is a U.S. Reportable Account. With respect to an Account

Holder of a Preexisting Entity Account that is not identified as either a U.S. Person or a Financial Institution, the

Reporting Portuguese Financial Institution must identify (i) whether the Account Holder has Controlling Persons,

(ii) whether the Account Holder is a Passive NFFE, and (iii) whether any of the Controlling Persons of the Account

Holder is a U.S. citizen or resident. In making these determinations the Reporting Portuguese Financial Institution

must follow the guidance in subparagraphs D(4)(a) through D(4)(d) of this section in the order most appropriate

under the circumstances.

a) For purposes of determining the Controlling Persons of an Account Holder, a Reporting Portuguese Financial

Institution may rely on information collected and maintained pursuant to AML/KYC Procedures.

b) For purposes of determining whether the Account Holder is a Passive NFFE, the Reporting Portuguese Financial

Institution must obtain a self-certification (which may be on an IRS Form W-8 or W-9, or on a similar agreed form)

from the Account Holder to establish its status, unless it has information in its possession or that is publicly

available, based on which it can reasonably determine that the Account Holder is an Active NFFE.

c) For purposes of determining whether a Controlling Person of a Passive NFFE is a U.S. citizen or resident for tax

purposes, a Reporting Portuguese Financial Institution may rely on:

(1) Information collected and maintained pursuant to AML/KYC Procedures in the case of a Preexisting Entity

Account held by one or more NFFEs with an account balance or value that does not exceed $1,000,000; or

(2) A self-certification (which may be on an IRS Form W-8 or W-9, or on a similar agreed form) from the Account

Holder or such Controlling Person in the case of a Preexisting Entity Account held by one or more NFFEs with

an account balance or value that exceeds $1,000,000.

d) If any Controlling Person of a Passive NFFE is a U.S. citizen or resident, the account shall be treated as a U.S.

Reportable Account.

E. Timing of Review and Additional Procedures Applicable to Preexisting Entity Accounts.

1. Review of Preexisting Entity Accounts with an account balance or value that exceeds $250,000 as of June 30,

2014 must be completed by June 30, 2016.

2. Review of Preexisting Entity Accounts with an account balance or value that does not exceed $250,000 as of

June 30, 2014, but exceeds $1,000,000 as of December 31 of 2015 or any subsequent year, must be completed