Section 4. DOCUMENTATION

REQUIREMENTS

Sec. 4.01. Documentation Require- ments. (A) General Documentation Require- ments. Except as otherwise provided in this section 4, WT must obtain a Form W–8 or Form W–9 from every direct beneficiary or owner that receives a distribution or distributive share of a reportable amount. If WT is an FFI and is subject to the know-your-customer rules for documenting its beneficiaries or owners (or subset of beneficiaries or owners), WT may obtain documentary evidence as set forth in the “know-your-customer” rules approved by the IRS (or the documentation described in section 4.03(A)(3) of this Agreement) for the applicable jurisdiction from its direct beneficiaries or owners rather than a Form W–8 or Form W–9, provided WT adheres to the know-yourcustomer rules that apply to WT with respect to the direct beneficiary or owner from whom the documentary evidence is obtained. WT must review and maintain documentation in accordance with this section 4 and, in the case of documentary evidence obtained from direct beneficiaries or owners, in accordance with the know-yourcustomer rules approved by the IRS for

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the applicable jurisdiction. WT must make documentation (together with any associated withholding statements and other documents or information) available upon request for inspection by WT’s external reviewer, if the performance of an external review is requested by the IRS (as described in section 8.08(D) of this Agreement). WT represents that none of the laws to which it is subject prohibits disclosure of the identity of any beneficiary or owner or corresponding beneficiary or owner information to WT’s reviewer. (B) Coordination of Chapter 3 and Chap- ter 4 Documentation Requirements. If WT is an FFI (other than a retirement fund), WT is required to perform the due diligence procedures under its FATCA requirements as a participating FFI, registered deemed-compliant FFI, or registered deemed-compliant Model 1 IGA FFI for each direct beneficiary or owner to determine if the beneficiary or owner is a holder of a U.S. account (or U.S. reportable account), and to determine each direct beneficiary or owner that is a nonparticipating FFI and, if applicable, that is a recalcitrant account holder (or nonconsenting U.S. account). See, however, the automatic termination provision of section 10.03(A) of this Agreement if WT is not in possession of valid documentation for any direct beneficiary or owner at any time that withholding or reporting is required. For purposes of this section 4, with respect to documenting a beneficiary or owner for chapter 4 purposes, documentary evidence also includes documentation or information that is publicly available to determine the chapter 4 status of the account holder to the extent permitted under an applicable IGA. If WT is an NFFE, WT is required to document the chapter 4 status of each beneficiary or owner to determine if reporting or withholding applies under section 1471 or 1472 on withholdable payments distributed to, or included in the distributive share of, the beneficiary or owner under the requirements of § 1.1471–3(d). If WT has determined that withholding is not required under chapter 4, WT must obtain, unless already collected, documentation that meets the requirements of this section 4 to determine whether withholding applies under chapter 3. See also

WT’s FATCA requirements as a participating FFI, registered deemed-compliant FFI, or registered deemed-compliant Model 1 IGA FFI for when WT will have reason to know that a claim of chapter 4 status is unreliable or incorrect and for WT’s requirements following a change in circumstances. If WT is an NFFE, see § 1.1471–3(e)(4) for when WT will have reason to know that an entity’s claim of chapter 4 status is unreliable or incorrect and § 1.1471–3(c)(6)(ii)(E) for WT’s requirements following a change in circumstances. Sec. 4.02. Documentation for Foreign Beneficiaries or Owners. WT may treat a beneficiary or owner as a foreign beneficial owner of an amount if the beneficiary or owner provides a valid Form W–8 (other than Form W–8IMY), or valid documentary evidence, to the extent permitted under section 4.01(A) of this Agreement, that supports the beneficiary’s or owner’s status as a foreign person. WT may treat a beneficiary or owner that has provided documentation as entitled to a reduced rate of withholding under chapter 3 if all the requirements for a reduced rate are met and the documentation provided by the beneficiary or owner supports entitlement to a reduced rate of withholding and no withholding under chapter 4. Sections 4.03 through 4.06 of this Agreement describe the specific documentation requirements necessary for obtaining a reduced rate of withholding in certain circumstances. Sec. 4.03. Treaty Claims. WT may not reduce the rate of withholding under chapter 3 based on a beneficiary’s or owner’s claim of treaty benefits unless WT has determined that no chapter 4 withholding is required and it obtains from the beneficiary or owner the documentation required by section 4.03(A) of this Agreement. In addition, WT agrees to establish procedures to inform beneficiaries or owners of the terms of the limitation on benefits provisions of a treaty (if applicable and regardless of whether those provisions are contained in a separate article entitled Limitation on Benefits) under which the beneficiary or owner is claiming benefits. For beneficiaries or owners that are entities documented by WT on or after January 1, 2017, WT is required to obtain a Form W–8BEN–E with the ap

propriate limitation on benefits certification or, if WT is allowed to and obtains documentary evidence, the written certification included in the treaty statement as described in section 4.03(B) of this Agreement. For beneficiaries or owners that are entities that were documented with documentary evidence prior to January 1, 2017, and for which treaty benefits are being claimed, WT is required to obtain the appropriate limitation on benefits statement prior to January 1, 2019. (A) Treaty Documentation . The documentation required by this section 4.03(A) is as follows: (1) A Form W–8BEN or Form W–8BEN–E on which a claim of treaty benefits is made, including, for an entity, the appropriate limitation on benefits and section 894 certifications, as provided in § 1.1441–6(b)(1) (if applicable), and a U.S. TIN or foreign TIN. A U.S. TIN or foreign TIN shall not be required, however, if the beneficiary or owner is a direct beneficiary or owner. If WT is acting as a withholding foreign trust for an indirect beneficiary or owner, the indirect beneficiary or owner is required to have either a U.S. TIN or a foreign TIN in order to claim treaty benefits unless it is claiming treaty benefits on income from marketable securities as described in § 1.1441–6(c); (2) Documentary evidence, as permitted under section 4.01(A) of this Agreement, that has been obtained pursuant to the know-your-customer rules that apply to the direct beneficiary or owner, and the direct beneficiary or owner, if it is an entity, has made the treaty statement (if applicable) required by section 4.03(B) of this Agreement; or (3) The type of documentary evidence, as permitted under section 4.01(A) of this Agreement, required under § 1.1441–6 to establish entitlement to a reduced rate of withholding under a treaty and the direct beneficiary or owner, if it is an entity, has made the treaty statement (if applicable) required by section 4.03(B) of this Agreement. (B) Treaty Statement . The treaty statement required by an entity direct beneficiary or owner under this section 4.03(B) is as follows: [Name of Direct Beneficiary or Owner] meets all provisions of the treaty that are necessary to claim a reduced rate of withholding, including any applicable

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limitation on benefits provisions, and derives the income within the meaning of section 894, and the regulations thereunder, as the beneficial owner. WT is only required to obtain the treaty statement described in this section 4.03(B) from a beneficiary or owner that is an entity. WT shall not be required to obtain a treaty statement described in this section 4.03(B) from an individual who is a resident of an applicable treaty country or from the government, or its political subdivisions, of a treaty country. WT is required to collect and report (as required on Form 1042–S) the specific category of limitation on benefits provision from all of its entity beneficiaries or owners, including a government (or its political subdivisions). WT may rely on a beneficiary’s or owner’s claim of the specific category of limitation on benefits provision absent actual knowledge that the claim is unreliable or incorrect. Sec. 4.04. Documentation for Interna- tional Organizations. WT may not treat a beneficiary or owner as an international organization entitled to an exemption from withholding under section 892 unless WT has determined that no chapter 4 withholding is required and it obtains a Form W–8EXP (or documentary evidence as permitted under section 4.01(A) of this Agreement) from the international organization. The name provided on the documentation must be the name of an entity designated as an international organization by executive order pursuant to 22 United States Code 288 through 288f. If an international organization is not claiming benefits under section 892 but under another Code exception, the provisions of section 4.02 of this Agreement apply rather than the provisions of this section 4.04. Sec. 4.05. Documentation for Foreign Governments and Foreign Central Banks of Issue. (A) Documentation for a Foreign Govern- ment or Foreign Central Bank of Issue Claiming an Exemption from Withholding Under Section 892 or Section 895 . WT may not treat a beneficiary or owner as a foreign government or foreign central bank of issue exempt from withholding under section 892 or 895 unless WT has determined that no chapter 4 withholding is required and—

(1) WT receives from the beneficiary or owner a Form W–8EXP (or documentary evidence as permitted under section 4.01(A) of this Agreement) establishing that the beneficiary or owner is a foreign government or foreign central bank of issue; (2) The income distributed to, or included in the distributive share of, the beneficiary or owner is the type of income that qualifies for an exemption from withholding under section 892 or 895; and (3) WT does not know, or have reason to know, that the beneficiary or owner is a controlled commercial entity as described in section 892, that the income owned by the foreign government or foreign central bank of issue is being received from a controlled commercial entity, or that the income is from the disposition of an interest in a controlled commercial entity. (B) Treaty Benefits . WT may not treat a beneficiary or owner as a foreign government or foreign central bank of issue entitled to a reduced rate of withholding under an income tax treaty for purposes of chapter 3 unless WT has determined that no chapter 4 withholding is required and it has valid documentation that is sufficient to obtain a reduced rate of withholding under a treaty, as described in section 4.03 of this Agreement. (C) Other Code Exception . If a foreign government or foreign central bank of issue is not claiming benefits under section 892 or 895 or a reduced rate under an income tax treaty but under another Code exception ( e.g., the portfolio interest exception under section 871(h) or 881(c)), the provisions of section 4.02 of this Agreement apply rather than the provisions of this section 4.05. Sec. 4.06. Documentation for Foreign Tax-Exempt Organizations. To the extent that WT determines that an amount distributed to, or included in the distributive share of, a beneficiary or owner is not subject to withholding under chapter 4, WT may not treat the beneficiary or owner as a foreign tax-exempt organization and reduce the rate of withholding or exempt the beneficiary or owner from withholding for purposes of chapter 3 unless WT satisfies the requirements provided in section 4.06(A), (B), or (C) of this Agreement. (A) Reduced Rate of Withholding Under Section 501 . WT may not treat a benefi

ciary or owner as a foreign organization described under section 501(c), and therefore exempt from withholding under chapter 3 (or, if the beneficiary or owner is a foreign private foundation, subject to withholding at a 4-percent rate under section 1443(b)) unless WT obtains a valid Form W–8EXP with Part IV of the form completed. (B) Treaty Exemption . WT may not treat a beneficiary or owner as a foreign organization that is tax-exempt on an item of income pursuant to a treaty unless WT obtains valid documentation as described under section 4.03 of this Agreement that is sufficient for obtaining a reduced rate of withholding under the treaty and the documentation establishes that the beneficiary or owner is an organization exempt from tax under the treaty on that item of income. (C) Other Exceptions . If a tax-exempt entity is not claiming a reduced rate of withholding because it is a foreign organization described under section 501(c) or under a treaty article that applies to exempt certain foreign organizations from tax, but is claiming a reduced rate of withholding under another Code or treaty exception, the provisions of section 4.02 or 4.03 of this Agreement (as applicable) shall apply rather than the provisions of this section 4.06. Sec. 4.07. Documentation from Pass- through Beneficiaries or Owners. Except as otherwise provided in section 9 of this Agreement, WT shall not act as a withholding foreign trust with respect to an amount distributed to, or included in the distributive share of, a passthrough beneficiary or owner. WT must forward the passthrough beneficiary’s or owner’s documentation (and associated withholding statement and documentation of indirect beneficiaries or owners) to the withholding agent from whom WT receives a reportable amount. Sec. 4.08. Documentation for U.S. Ex- empt Recipients. WT shall not treat a beneficiary or owner as a U.S. exempt recipient unless WT obtains from the beneficiary or owner— (A) A valid Form W–9 on which the beneficiary or owner includes an exempt payee code to certify that the beneficiary or owner is a U.S. exempt recipient; (B) Documentary evidence, as permitted

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under section 4.01(A) of this Agreement, that is sufficient to establish that the beneficiary or owner is a U.S. exempt recipient; or (C) Documentary evidence, as permitted under section 4.01(A) of this Agreement, that is sufficient to establish the beneficiary’s or owner’s status as a U.S. person and WT can treat the beneficiary or owner as an exempt recipient under the rules of §§ 1.6045–2(b)(2)(i) or 1.6049–4(c)(1) (ii), as appropriate, without obtaining documentation. Sec. 4.09. Documentation for U.S. Non- Exempt Recipients. WT shall not treat a beneficiary or owner as a U.S. nonexempt recipient unless WT obtains a valid Form W–9 or other similar agreed form from the beneficiary or owner. Sec. 4.10. Documentation Validity. (A) In General . WT may not rely on documentation if WT has actual knowledge or reason to know that the information or certifications contained in the documentation provided by a beneficiary or owner is unreliable or incorrect, or that there is a change in circumstances with respect to the information or statements contained in the documentation or in WT’s files (account information) pertaining to the obligation that affects the reliability of the beneficiary or owner’s claim. See § 1.1441–1(e)(4)(ii)(D) for the definition of change in circumstances. Once WT knows, or has reason to know, that documentation provided by a beneficiary or owner is unreliable or incorrect to establish foreign status or residency for purposes of claiming benefits under an applicable income tax treaty, it can no longer reliably associate a payment with valid documentation unless it obtains additional documentation to establish the beneficiary’s or owner’s chapter 3 status. If WT can no longer reliably associate a payment with valid documentation, it must obtain new documentation prior to the time withholding is required under section 3 of this Agreement. With respect to a withholding agent’s reason to know that a claim for treaty benefits is unreliable or incorrect based on the existence of a tax treaty, the rules in § 1.1441–6(b)(1)(ii) will apply to preexisting beneficiaries or owners for which WT held valid documentation upon a change in circumstances or, with respect to a preexisting entity beneficiary or

owner, when it provides a written limitation on benefits statement (as described in section 4.03(B) of this Agreement). For all beneficiaries or owners that become beneficiaries or owners of WT on or after January 1, 2017, this rule will apply on the date that such beneficiary or owner becomes a beneficiary or owner of WT. For purposes of this section 4.10(A), a “preexisting beneficiary or owner” or “preexisting entity beneficiary or owner” is a beneficiary or owner documented by WT prior to January 1, 2017, for a WT with a WT Agreement in effect prior to that date. For a WT that did not have a WT Agreement in effect prior to January 1, 2017, a “preexisting beneficiary or owner” or “preexisting entity beneficiary or owner” means a beneficiary or owner that became a beneficiary or owner of WT (and for which WT has valid documentation) prior to the effective date of its WT Agreement. (B) General Rules. (1) WT shall not rely on a Form W–9 if it is not permitted to do so under the rules of § 31.3406(h)–3(e) or if it has been informed by the IRS or another withholding agent that the form is unreliable or incorrect and shall not rely on a Form W–8 if it is not permitted to do so under this section 4.10. (2) WT shall not treat documentary evidence provided by a beneficiary or owner as valid if the documentary evidence does not reasonably establish the identity of the person presenting the documentary evidence. For example, documentary evidence is not valid if it is provided in person by a beneficiary or owner that is a natural person and the photograph on the documentary evidence, if any, does not match the appearance of the person presenting the document. (3) WT may not rely on documentation to reduce the withholding rate that would otherwise apply if— (a) The beneficiary’s or owner’s documentation is incomplete or contains information that is inconsistent with the beneficiary’s or owner’s claim, (b) WT has other information in the account information that is inconsistent with the beneficiary’s or owner’s claim, or (c) The documentation lacks the information necessary to establish entitlement to a reduced rate of withholding. For example, if a direct beneficiary or

owner that is an entity provides documentation to claim treaty benefits and the documentation establishes the direct beneficiary’s or owner’s status as a foreign person and a resident of a treaty country but fails to provide the treaty statement in section 4.03(B) of this Agreement, the documentation does not establish the direct beneficiary’s or owner’s entitlement to a reduced rate of withholding. Sec. 4.11. Documentation Validity Pe- riod. (A) Documentation Other Than a Form W–9 . WT, as permitted under section 4.01(A) of this Agreement, may rely on valid documentary evidence obtained from direct beneficiaries or owners in accordance with applicable know-yourcustomer rules as long as the documentary evidence remains valid under those rules or until WT knows, or has reason to know, that the information contained in the documentary evidence is unreliable or incorrect. However, WT may only rely on statements regarding entitlement to treaty benefits described in § 1.1441–6(c)(5)(i) or the representations described in section 4.03 of this Agreement until the validity expires under § 1.1441–1(e)(4)(ii)(A)( 2 ). For establishing a beneficiary’s or owner’s chapter 3 status (as defined in § 1.1441–1(c)(45)) or foreign status for chapter 61 purposes, WT may rely on a valid Form W–8 until its validity expires under § 1.1441–1(e)(4)(ii) and may rely on documentary evidence (other than documentary evidence obtained pursuant to applicable know-your-customer rules) until its validity expires under § 1.6049– 5(c). (B) Form W–9 . WT may rely on a Form W–9 unless one of the conditions of § 31.3406(h)–3(e)(2)(i) through (v) applies or if it has been informed by the IRS or another withholding agent that the form is unreliable or incorrect. Sec. 4.12. Maintenance and Retention of Documentation. (A) Maintaining Documentation . WT shall maintain documentation by retaining the original documentation, a certified copy, a photocopy, a scanned copy, a microfiche, or other means that allow reproduction (provided that WT has recorded receipt of the documentation and is able to produce a hard copy). If WT is not required to retain copies of documentary

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evidence under its know-your-customer rules, WT may instead retain a notation of the type of documentation reviewed, the date the documentation was reviewed, the document’s identification number, if any (e.g., a passport number), and whether such documentation contained any U.S. indicia. For obligations held by a direct beneficiary or owner opened prior to January 1, 2001, if WT was not required under its know-your-customer rules to maintain originals or copies of documentation, WT may nevertheless rely on the information if it has complied with all other aspects of its know-your-customer rules regarding establishment of a beneficiary’s or owner’s identity, it has a record that the documentation required under the know-your-customer rules was actually examined by an employee of WT or employees of the trustee of WT in accordance with the know-your-customer rules, and it has no information in its possession that would require WT to treat the documentation as invalid. (B) Retention Period . WT shall retain a beneficiary’s or owner’s documentation obtained under this section 4 for as long as the document is relevant for the determination of WT’s tax liability or reporting responsibilities under chapters 3, 4, and 61, and sections 3406 and 6048.