PART III. WAIVER OF PERIODIC

REVIEW

For purposes of this Part III, “beneficiary or owner” means, unless otherwise specified, any beneficiary or owner for which WT acts as a WT. For sections B.1 through 6 of this Part III, while the curing of inadequate documen- tation is permissible, the information re-

Bulletin No. 2017–6 859 February 6, 2017

ported in these sections must not reflect any remediation or curing. In order to be eligible for a waiver, WT must be able to confirm all of the eligibil- ity requirements in Section A are met.

A. Eligibility for Waiver (check each statement to confirm)

1. WT is an FFI.
2. WT is not part of a consolidated compliance program.
3. For each calendar year in the certification period, the reportable amounts received by WT do not exceed $1 million.
4. WT timely filed its Forms 1042, 1042–S, 8966 (or, if WT is a reporting Model 1 FFI, any analogous forms used for reporting account information pursuant to an applicable Model 1 IGA), and 3520–A, as applicable, for all years (fiscal or calendar) in the certification period.
5. WT made all periodic certifications and reviews required by sections 8.02 and 8.03 of the WT Agreement as well as any certifications required pursuant to WT’s FATCA requirements as a participating FFI or registered deemed-compliant FFI.
6. WT made the certification of effective internal controls in Part II.A.

B. Information required (provided for the most recent year in the certification period for which filing has been made by the time of this waiver request)

1. The total number of beneficiaries or owners

a. Total number of direct benefi ciaries or owners

i. Foreign persons ii. U.S. persons iii. Foreign intermediaries and

flow-through entities b. Total number of indirect ben eficiaries or owners

i. Foreign persons ii. U.S. persons iii. Foreign intermediaries and

flow-through entities 2. The total number of non-U.S. beneficiaries or owners that received reportable amounts

a. The total number of such ben eficiaries or owners that have valid documentation. b. The total number of such ben eficiaries or owners that have no documentation or invalid documentation. 3. The aggregate amount of reportable amounts received for non-U.S. beneficiaries or owners 4. The total number of Forms 1042–S filed by WT. 5. The total number of Schedules K–1 filed by WT. 6. The aggregate amount of tax withheld under chapter 3. 7. The aggregate amount of tax withheld under chapter 4. 8. The aggregate amount of withheld tax deposited by WT.