If you have any questions, please call our Customer Services Team on 01382 573737 Calls may be monitored for training or security purposes. Investment Dealing Account (IDA) Trust Application Form for Advised Clients Please complete in block capitals and black ink and return to: Alliance Trust Savings Limited, PO Box 164, 8 West Marketgait, Dundee, DD1 9YP. You should read the IDA Guide, Charges Guide and Terms and Conditions before applying. These documents can be requested from your Financial Adviser. It is important that you select which fee option you would like your Account to operate on. You should discuss the two fee options available (standard or inclusive) with your Financial Adviser who will be able to recommend which option is best suited to your personal circumstances. If you require assistance with any aspects of this form, you should speak with your Financial Adviser. They can also apply on your behalf online at alliancetrustsavings.co.uk/adviser. You must be 18 years or over to open an Account. We regret that we cannot accept applications from applicants who are (1) US Persons or (2) applying on behalf of US Persons or (3) non UK tax resident (including those who have dual tax residence). For a definition of US Person, you can refer to the Glossary section of our website a alliancetrustsavings.co.uk. 1. Trust details If the Trust is already an Alliance Trust Savings customer please provide the Client Reference Number. Client Reference Number: Trust s registered name: Trust s HMRC Company s trading name: Trust s principle Nature of Trust and source of cash: Country of establishment: United Kingdom If no above, please name country of establishment: Country of residency: 2. Legal Entity Identifier (LEI) As a Legal Entity (except if you are a Bare Trust or Pension Trust for Self Invested Personal Pension (SIPP)), we require you to provide us with your LEI to allow us to fulfil our Regulatory obligations to the FCA. If you are not familiar with the Legal Entity Identifier or how to obtain one, you can find the details at www.gleif.org which is the website of the Global Legal Entity Foundation. Bare Trusts and SIPP Pension Trusts do not need to provide an LEI. LEI: 3. Tax Residency Tax regulations require us to collect certain information about each Account holder s tax residency and tax classifications. In certain circumstances, including when we do not receive a valid self-certification from you, we may be obliged to share information on your Account with HMRC. If you have any questions about your tax residency, you can review the Guidance tes provided or contact your tax adviser. Should your tax situation change at any time, we ask that you notify us immediately. Is the Entity a resident for tax purposes anywhere other than the UK? If, list all the countries in which the entity is resident for tax purposes together with any Tax Identification Number or Tax Reference Number. Country of Tax Residency Tax Identification Number/Tax Reference Number Section 3 continued on next page >> Page 1 of 13
3. Tax Residency (continued) Page 2 of 13 3(a) In relation to this application is the Entity classified as a (tick the most appropriate status): Financial Institution Professionally-managed trust If so, please state your GIIN Number: If so, please state your GIIN Number: Registered UK Pension scheme or similar arrangement Court Deputy If you have ticked any of the boxes above, you do not need to complete the rest of this Section. Active NFFE/NFE (includes most charities & not-for-profit bodies) Passive NFFE/NFE Other (provide details opposite) If so, complete Section 3b. Details: 3(b) If the Entity is a Passive NFFE/NFE, e.g. such as a non-professionally managed trust or a private investment company, are any of the Controlling Persons of the entity resident for tax purposes anywhere other than the UK? If you answered to the above question, for each Controlling Person identified as part of Anti-Money Laundering/Know Your Customer procedures, please list the non-uk Controlling Person s details and the country or countries in which they are tax resident, together with any Tax Identification Numbers (TIN)/Tax Reference Numbers (TRN) for that country. If additional space is required, use a separate sheet. Controlling Person 1 First names(s): Country/countries of tax residence: Tax Reference Number: What makes this individual a controlling person? (e.g. Settlor, Trustee, Protector, Beneficiary or class of beneficiaries, Shareholders): Signature of Controlling Person: Controlling Person 2 First names(s): Country/countries of tax residence: Tax Reference Number: What makes this individual a controlling person? (e.g. Settlor, Trustee, Protector, Beneficiary or class of beneficiaries, Shareholders): Signature of Controlling Person: Controlling Person 3 First names(s): Country/countries of tax residence: Tax Reference Number: What makes this individual a controlling person? (e.g. Settlor, Trustee, Protector, Beneficiary or class of beneficiaries, Shareholders): Signature of Controlling Person: Section 3 continued on next page >>
3. Tax Residency (continued) Page 3 of 13 Controlling Person 4 First names(s): Country/countries of tax residence: Tax Reference Number: What makes this individual a controlling person? (e.g. Settlor, Trustee, Protector, Beneficiary or class of beneficiaries, Shareholders): Signature of Controlling Person: Controlling Person 5 First names(s): Country/countries of tax residence: Tax Reference Number: What makes this individual a controlling person? (e.g. Settlor, Trustee, Protector, Beneficiary or class of beneficiaries, Shareholders): Signature of Controlling Person: 4. True copy of Trust Deed and trustee appointments A true copy of the Trust Deed and trustee appointments accompany this application? The latest accounts for the Trust accompany this application? The auditors for the Trust are: Are there any settlors/grantors (if not the trustees) of the Trust? If yes to the above, please give details: Permanent residential Town/City: Country: Are there any anonymous beneficiaries of the Trust? NI If yes to the above, please give details:
5. Authorised Persons Page 4 of 13 Each person is properly authorised by the Trust, in accordance with its corporate governance, to operate the Investment Dealing Account on behalf of the Trust. All correspondence will be sent to the Trust address, for the attention of the Authorised Person. You may nominate up to two Authorised Persons. Mother s maiden name (for security purposes): Nationality: Phone Mobile Email Second Authorised Person (if required) Mother s maiden name (for security purposes): Nationality: Phone Mobile Email 6. Trustees Please provide details on each trustee (If there are more trustees, please attach an additional sheet). Is the Trust or any Trustee regulated by a regulator or body? If yes, please give details: (Continue on separate sheet) Individual Trustee of birth: Permanent residential NI Individual Trustee of birth: Permanent residential NI Corporate Trustee Registered name: Registered Registered office: Principle Country of tax residence: Tax reference
7. Beneficiary Please provide details of shareholders/members who hold 25% interest in the Trust fund by themselves or in connection with others. If there are more beneficiaries, please attach an additional sheet. Page 5 of 13 of birth: % of shares held at date of application: % Class of interest held at date of application: I confirm I am a national of the United Kingdom My National Insurance Number is: Please tell us any other country or countries of which you are a national. If you have more than two nationalities we only need to know about the two you most frequently use (including your UK nationality where applicable). We also require your Personal Identifier. Country Your Personal Identifier of birth: % of shares held at date of application: % Class of interest held at date of application: I confirm I am a national of the United Kingdom My National Insurance Number is: Please tell us any other country or countries of which you are a national. If you have more than two nationalities we only need to know about the two you most frequently use (including your UK nationality where applicable). We also require your Personal Identifier. Country Your Personal Identifier 8. Investment Dealing Account fee options Tick one box only. Standard Fee A quarterly administration fee. Dealing fees are charged in addition to the Standard Fee. Please see our Charges Guide for full details. Inclusive Fee An annual administration fee. Online dealing fees are included in the Inclusive Fee subject to our fair usage policy. Please see our Charges Guide for full details. Please read our Charges Guide for Advised Clients for full details regarding these two options and the other charges that may apply to your Investment Dealing Account. The Charges Guide is available from your Financial Adviser. 9. Is this Account to have a designation? If you hold several Investment Dealing Accounts, it may be easier for you to differentiate them with a designation. For example, if you hold an Account for a specific purpose, you may identify the Account with a particular title, e.g. the first child s interest or the firm s investment Account. Each Account held will incur a quarterly administration charge. Please see our Charges Guide for more details, which is available within the Forms and Documents section at alliancetrustsavings.co.uk. Please state the designation (name):
10. Payments to your Investment Dealing Account You may pay into your Investment Dealing Account by Cheque or Electronic payment. Page 6 of 13 Single investment Investment Amount: Electronic payments can be made to Bank: Royal Bank of Scotland; Sort Code: 83-50-00; Account Number: 00600948. To ensure your electronic payment is processed on receipt, please use your eight digit Alliance Trust Account number as the payment reference. Cheques should be made payable to Alliance Trust Savings. Regular investment (minimum 50) Investment method: Electronic payment Cheque If you are on the Standard Fee option and complete this section of the form, any regular instructions to purchase an investment will be charged at our standard rate for offline. Investment Amount: (minimum 50) Annual indexation: ne RPI How would you like to complete the direct debit: Collection on this day of the month (tick one 1st box only): 8th Online 15th Paper 22nd Is the customer the payer, bank Account holder and the only person required to authorise debits from the bank Account? Direct Debits will be automatically collected on a monthly basis. If you wish Direct Debits to be collected quarterly, please tick. Commencing in (month/year): You must also provide your bank details using the Direct Debit Instruction at the back of this form. Please tick this box to confirm you have done this. You should allow at least 10 working days before the first collection is due to be paid to allow your bank time to set up the Direct Debit. Transferring in investments Provided an investment meets our eligibility criteria, you may be able to transfer it into your Account. If you wish to do this, your Financial Adviser should complete a Transferring In Investments form which they can download from alliancetrustsavings.co.uk/adviser or by calling our Intermediary Support team on 08000 326 323. Investment instructions When we receive your contribution we will hold it in your Account as cash. Your Financial Adviser can then make your investment instructions online. If you require online access you can request this from your Financial Adviser. By investing online our lower online dealing charges will apply. Please consult the Charges Guide for details on the rates relevant to your product. This is available from your Financial Adviser. If you fail to pay charges related to your Account we will reserve the right to disinvest assets in order to pay any outstanding charges. We offer a wide range of investments, your Financial Adviser can provide you with a list of the investments we offer. 11. Regular withdrawals If you wish to set-up a regular withdrawal from your Investment Dealing Account, please complete this section. Select this box if you would like to use the same bank Account details as your Direct Debit Name and full postal address of your bank: Name of Account holder: Sort code: Bank Account This must not be the Collection Account number. Select frequency: Please pay income: Amount per frequency: Monthly Quarterly Half-yearly Yearly % of Account value: % Start month: Annual Indexation: ne RPI * If Percentage annually is selected above, please state percentage: Percentage annually* % Please note that regular withdrawals are restricted to a maximum of 10% of your plan value, per annum. For withdrawals above this limit, your Financial Adviser should contact our Intermediary Support Team at 08000 326 323.
12. Appointment of Financial Adviser Page 7 of 13 To appoint a Financial Adviser, please provide details below. If they have an Alliance Trust Savings Adviser reference number, enter this number below. other details are required. If your Financial Adviser does not have an Adviser reference number they will need to complete our Adviser Terms of Business Form. The form is available at alliancetrustsavings.co.uk/adviser. Alternatively, they can call our Intermediary Support Team on 08000 326 323. Alliance Trust Savings Adviser reference Adviser name: Address: Adviser firm FCA reference Postcode Company: Phone Email IRN Adviser: We will need to communicate with you and your Financial Adviser about your Investment Dealing Account. If you have authorised us to disclose information to a third party such as your lawyer or accountant, we will send them information in accordance with your authority. If you want to give a third party authority or alter a third party authority, please complete our Third Party Authority Form available from alliancetrustsavings.co.uk. 13. Adviser Charging Initial Adviser Charging Please pay the initial payment as set out below. rmally the first payment will be made in accordance with the Rules at the next Payment. Single Investment: Percentage of amount (exc VAT): % OR Amount (exc VAT): Regular Investment: Percentage of amount (exc VAT): % OR Amount (exc VAT): Ongoing Adviser Charging Indicate here the annual amount in or the annual percentage rate, as applicable. Annual amount: Annual Percentage of plan value (exc VAT): % OR Amount (exc VAT): Payment will normally be made to the nominated bank Account by the 10th of the month the payment is due. Monthly payments will be paid in arrears. Annual payments are calculated on the anniversary then paid on the next payment date. You should ensure that there is sufficient cash available within your Account to make payments to your Financial Adviser. Payment frequency: Monthly Annually Discretionary Fund Manager (DFM) charge Please pay the initial payment as set out below. rmally the first payment will be made in accordance with the Rules at the next Payment. Single Investment: Percentage of amount (exc VAT): % Ad-hoc based charging Please pay Ad-hoc based Adviser Charging Your Financial Adviser can arrange to send us invoices for payment online. We will send you copies of the paid invoices for your information. (Please tick) It is you and your Financial Advisers responsibility to ensure that there is sufficient cash to cover all charges. The above Discretionary Fund Manager charge assumes that the Discretionary Fund Manager is managing all assets within the Account.
14. Declaration by Adviser Page 8 of 13 I am authorised to bind and bind my firm to the terms of this Agreement, your Guide and Rules for Adviser Charging and your Adviser Terms of Business, and make this declaration on its behalf. Everything stated in this Agreement in relation to my firm is true and my firm will tell you immediately in writing if any details change. I confirm all Payments will be made in accordance with your Guide and Rules for Adviser Charging, available from your website, this Agreement and the Adviser Terms of Business, which may change from time to time on notice being given to the firm. I also acknowledge that it is my firm s responsibility to account for VAT on all remuneration payments as appropriate. My firm acknowledges the extent of its authority set out in Section 12 and payments to be made to this firm, for the person named in Section 1. I/we have obtained evidence to verify the identity, banking details, and fund source of the customer which: Please tick one of the these two boxes only: Meets the standard evidence set out within the guidance for the UK Financial Sector issued by JMLSG I/we confirm that customer bank details have been verified Please note that we retain the right to request details of said evidence at a later date if required. Bank to receive Adviser Charging: Account Sort code: Exceeds the standard evidence (written details of the further verification evidence taken are attached to this confirmation) Account name: Name of person signing: Role of person signing: I have carefully read the Agreement, your Guide and Rules for Adviser Charging and your Adviser Terms of Business Signature: : Adviser firm stamp 15. Data protection and privacy We are committed to maintaining the personal information that you provide to us in accordance with the requirements of data protection/ data privacy legislation. In order to process this application and maintain your Account we collect and use your personal information. Our Data Protection and Privacy Policy describes the type of personal information we collect, the purposes for which we use the information, the circumstances in which we may share the information and the steps we take to safeguard the information to protect your privacy. Details of our Data Protection and Privacy Policy can be found in Section B of our Terms and Conditions available from your Financial Adviser.
16. Declaration to Alliance Trust Savings and signature We confirm that we have been provided with a copy of, and agree to, the Terms and Conditions and Charges Guide (together with this completed Application the Governing Documents ) applicable to the Account. The Governing Documents together comprise our standard client agreement upon which we intend to rely. For your own benefit and protection you should read the Governing Documents carefully before signing this declaration or submitting this application. If you do not understand any point please ask for further information. We apply for an Investment Dealing Account provided by Alliance Trust Savings Limited. We consent to Alliance Trust Savings Limited s Order Execution Policy. We are the beneficial owners of the investments held in the Investment Dealing Account. We confirm that: All payments made and to be made to our Account are and will belong to us or be from a person authorised by us; The information given by us in this application is true and correct to the best of our knowledge and belief, and We will inform you without delay of any changes to the particulars given in this Application Form and any other changes which may affect our ability to hold an Investment Dealing Account. Page 9 of 13 We authorise you to: Hold payments, investments, interest, dividends and any other rights or proceeds in respect of those investments, and any other cash under our Account with you, subject to the Governing Documents; On our authenticated request, and subject to the Governing Documents, transfer or pay to us, as the case may be, investments, interest, dividends, rights or proceeds in respect f those investments, or any cash; and Create additional Accounts for us as appropriate for the delivery of Services or receiving payments using the details contained in this application, as updated by us as appropriate. It is a serious offence to make any false statements and to do so can lead to prosecution. We have appointed the Adviser firm named in Section 12 to work on our behalf in relation to our Accounts, and we instruct and authorise you to make the payments to that Adviser firm as specified in this Agreement. If you have agreed to pay your Financial Adviser on an Invoice based basis you should be aware that Alliance Trust Savings will accept any future invoices submitted by your Financial Adviser to us for payment of services related to your Account until instructed otherwise. We have carefully read all the parts of this Agreement and confirm that they are acceptable and agreed to by us, including details in Section 13, and the Guide and Rules for Adviser Charging. We acknowledge that this Agreement will remain in place until we notify you in writing that we wish to amend or terminate it or the Rules so provide. amendment or termination will have retrospective effect. We have separately made an agreement or arrangement with the Adviser firm about the services the Adviser firm provides to us and the amount we pay for those services. The information given in this Section relating to us is true and complete. We also acknowledge that it is the Financial Adviser s responsibility to Account for VAT on all remuneration payments, as appropriate. Please tick this box to acknowledge that you have read the FSCS Information Sheet including exclusions to the depositor protection scheme and kept it for future reference Signature (Authorised persion one): Signature (Authorised persion two): : :
tes Page 10 of 13 Definitions common to FATCA and CRS Tax Regulations The term tax regulations refers to regulations created to enable automatic exchange of information and include Foreign Account Tax Compliance Act (FATCA), and the OECD Common Reporting Standard (CRS) for Automatic Exchange of Financial Account Information. FATCA FATCA regulations in Sections 1471 to 1474 of the US Internal Revenue Code and the Treasury regulations and official guidance issued there under, as amended from time to time. FATCA regulations have been adopted in the UK by The International Tax Compliance Regulations 2015. CRS The OECD Common Reporting Standard (CRS) which has been adopted in the UK by The International Tax Compliance Regulations 2015. n-profit Organisation An entity that meets ALL of the following criteria: (i) It is established and operated in its jurisdiction of residence exclusively for religious, charitable, scientific, artistic, cultural, athletic, or educational purposes; or it is established and operated in its jurisdiction of residence and it is a professional organisation, business league, chamber of commerce, labour organisation, agricultural or horticultural organisation, civic league or an organisation operated exclusively for the promotion of social welfare; (ii) It is exempt from income tax in its country of residence; (iii) It has no shareholders or members who have a proprietary or beneficial interest in its income or assets; (iv) The applicable laws of the entity s country of residence or the entity s formation documents do not permit any income or assets of the entity to be distributed to, or applied for the benefit of, a private person or non-charitable entity other than pursuant to the conduct of the entity s charitable activities, or as payment of reasonable compensation for services rendered, or as payment representing the fair market value of property which the entity has purchased; and (v) The applicable laws of the entity s country of residence or the entity s formation documents require that, upon the entity s liquidation or dissolution, all of its assets be distributed to a governmental entity or other non-profit organisation, or escheat to the government of the entity s country of residence or any political subdivision thereof. Controlling Persons The term Controlling Persons means the natural persons who exercise control over an Entity. In the case of a trust, such term means the settlor, the trustees, the protector (if any),the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term Controlling Persons must be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Control over an Entity is generally exercised by the natural person(s) who ultimately has a controlling ownership interest in the Entity. A control ownership interest depends on the ownership structure of the legal person and is usually identified on the basis of a threshold applying a risk-based approach (e.g. any person(s) owning more than a certain percentage of the legal person, such as 25%). Where no natural person(s) exercises control through ownership interests, the Controlling Person(s) of the Entity will be the natural person(s) who exercises control of the Entity through other means. Where no natural person(s) is identified as exercising control of the Entity, the Controlling Person(s) of the Entity will be the natural person(s) who holds the position of senior managing official. Classifications under FATCA Financial Institution The term Financial Institution means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company as defined for the purposes of FATCA. Please see the relevant Tax Regulations for the classification definitions that apply to Financial Institutions. Partner Jurisdiction Financial Institution A Partner Jurisdiction Financial Institution includes (a) any Financial Institution resident in the UK, but excluding any branches of such Financial Institution that are located outside the UK and (b) any UK branch of a Financial Institutional not resident in the UK. For these purposes, Partner Jurisdiction means any jurisdiction that has in effect an agreement with the US to facilitate the implementation of FATCA. n-iga Jurisdiction A non-iga jurisdiction is one where there is no Model 1 or 2 Intergovernmental Agreement in place with the US in respect of FATCA. n-participating Foreign Financial Institution (NPFFI) The term n-participating Foreign Financial Institution means a non-participating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a United Kingdom Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution identified as a n-participating Financial Institution pursuant to a determination by IRS or HMRC that there is significant non-compliance with FATCA obligations. US Territory This term means American Samoa, the Commonwealth of the rthern Mariana Islands, Guam, the Commonwealth of Puerto Rico or the US Virgin Islands. Exempt Beneficial Owner The term Exempt Beneficial Owner means: (i) A UK Governmental Organisation; (ii) An International Organisation (examples of which include The International Monetary Fund, The World Bank, The International Bank for Reconstruction and Development and The European Community for a full list please see the relevant guidance issued by HMRC, or the IRS); (iii) A Central Bank; or (iv) A UK registered pension scheme, or non-uk pension scheme falling within the definition of Exempt Beneficial Owner for the purpose of FATCA. Deemed Compliant Foreign Financial Institution The term Deemed Compliant Foreign Financial Institution means: (i) Those entities classified as such in Annex II of the UK IGA, which includes n-profit Organisations and Financial Institutions with a Local Client Base, or (ii) Entities which otherwise qualify as such under the FATCA Regulations. Active n-financial Foreign Entity (NFFE) An Active NFFE is any n-financial Foreign Entity that meets one of the following criteria: (a) Less than 50 percent of the NFFE s gross income for the preceding calendar year or other appropriate reporting period is passive income and less than 50 percent of the assets held by the NFFE during the preceding calendar year or other appropriate reporting period are assets that produce or are held for the production of passive income; (b) The stock of the NFFE is regularly traded on an established securities market or the NFFE is a Related Entity of an Entity the stock of which is traded on an established securities market; (c) The NFFE is organized in a U.S. Territory and all of the owners of the payee are bona fide residents of that U.S. Territory; (d) The NFFE is a non-u.s. government, a government of a U.S. Territory, an international organization, a non-u.s. central bank of issue, or an Entity wholly owned by one or more of the foregoing;
tes (continued) (e) Substantially all of the activities of the NFFE consist of holding (in whole or in part) the outstanding stock of, and providing financing and services to, one or more subsidiaries that engage in trades or businesses other than the business of a Financial Institution, except that an NFFE shall not qualify for this status if the NFFE functions (or holds itself out) as an investment fund, such as a private equity fund, venture capital fund, leveraged buyout fund or any investment vehicle whose purpose is to acquire or fund companies and then hold interests in those companies as capital assets for investment purposes. In these circumstances, the Entity will be a Passive NFFE; (f) The NFFE is not yet operating a business and has no prior operating history, but is investing capital into assets with the intent to operate a business other than that of a Financial Institution; provided, that the NFFE shall not qualify for this exception after the date that is 24 months after the date of the initial organization of the NFFE; (g) The NFFE was not a Financial Institution in the past five years, and is in the process of liquidating its assets or is reorganizing with the intent to continue or recommence operations in a business other than that of a Financial Institution; (h) The NFFE primarily engages in financing and hedging transactions with or for Related Entities that are not Financial Institutions, and does not provide financing or hedging services to any Entity that is not a Related Entity provided that the group of any such Related Entities is primarily engaged in a business other than that of a Financial Institution; or (i) The Entity is a n-profit organisation (j) The NFFE is an Excepted NFFE as described in relevant U.S. Treasury Regulations. Passive n-financial Foreign Entity (PNFFE) A Passive NFFE is any n-financial Foreign Entity that is not an Active NFFE. n-financial Foreign Entity (NFFE) The term NFFE means any non-us Entity that is not treated as a Financial Institution. Related Entity An entity is a Related Entity of another entity if either entity controls the other entity, or the two entities are under common control. For this purpose control includes directors in direct ownership of more than 50 per cent of the vote or value in an entity. Specified US Person The term Specified U.S. Person means a U.S. Person, other than: (i) A corporation the stock of which is regularly traded on one or more established securities markets; (ii) Any corporation that is a member of the same expanded affiliated group, as defined in Section 1471(e)(2) of the U.S. Internal Revenue Code, as a corporation described in clause (i); (iii) The United States or any wholly owned agency or instrumentality thereof; (iv) Any State of the United States, any U.S. Territory, any political subdivision of any of the foregoing, or any wholly owned agency or instrumentality of any one or more of the foregoing; (v) Any organization exempt from taxation under Section 501(a) or an individual retirement plan as defined in Section 7701(a)(37) of the U.S. Internal Revenue Code; (vi) Any bank as defined in Section 581 of the U.S. Internal Revenue Code; (vii) Any real estate investment trust as defined in Section 856 of the U.S. Internal Revenue Code; (viii) Any regulated investment company as defined in Section 851 of the U.S. Internal Revenue Code or any entity registered with the Securities Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. 80a-64); (ix) Any common trust fund as defined in Section 584(a) of the U.S. Internal Revenue Code; (x) Any trust that is exempt from tax under Section 664(c) of the U.S. Internal Revenue Code or that is described in Section 4947(a)(1) of the U.S. Internal Revenue Code; (xi) A dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any State; or (xii) A broker as defined in Section 6045(c) of the U.S. Internal Revenue Code. Classifications under CRS Financial Institution The term Financial Institution means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company. Page 11 of 13 n-reporting Financial Institution The term n-reporting Financial Institution means any Financial Institution which is: (a) A Governmental Entity, International Organisation or Central Bank, other than with respect to a payment that is derived from an obligation held in connection with a commercial financial activity of a type engaged in by a Specified Insurance Company, Custodial Institution, or Depository Institution; (b) A Broad Participation Retirement Fund; a Narrow Participation Retirement Fund; a Pension Fund of a Governmental Entity, International Organisation or Central Bank; or a Qualified Credit Card Issuer; (c) Any other Entity that presents a low risk of being used to evade tax, has substantially similar characteristics to any of the Entities described in (a) or (b) above, and is included in the list of n-reporting Financial Institutions provided to the European Commission by the UK; (d) An Exempt Collective Investment Vehicle; or (e) A trust to the extent that the trustee of the trust is a Reporting Financial Institution and reports all information required to be reported pursuant to Section I with respect to all Reportable Accounts of the trust. Related Entity An Entity is a Related Entity of another Entity if (i) either Entity controls the other Entity; (ii) the two Entities are under common control; or (iii) the two Entities are Investment Entities, are under common management, and such management fulfils the due diligence obligations of such Investment Entities. For this purpose control includes direct or indirect ownership of more than 50% of the vote and value in an Entity. Active n-financial Entity (NFE) The term Active NFE means any NFE that meets any of the following criteria: (a) Less than 50 % of the NFE s gross income for the preceding calendar year or other appropriate reporting period is passive income and less than 50 % of the assets held by the NFE during the preceding calendar year or other appropriate reporting period are assets that produce or are held for the production of passive income; (b) The stock of the NFE is regularly traded on an established securities market or the NFE is a Related Entity of an Entity the stock of which is regularly traded on an established securities market; (c) The NFE is a Governmental Entity, an International Organisation, a Central Bank, or an Entity wholly owned by one or more of the foregoing; (d) Substantially all of the activities of the NFE consist of holding (in whole or in part) the outstanding stock of, or providing financing and services to, one or more subsidiaries that engage in trades or businesses other than the business of a Financial Institution, except that an Entity does not qualify for this status if the Entity functions (or holds itself out) as an investment fund, such as a private equity fund, venture capital fund, leveraged buyout fund, or any investment vehicle whose purpose is to acquire or fund companies and then hold interests in those companies as capital assets for investment purposes. In these circumstances, the Entity will be a Passive NFE;
tes Page 12 of 13 (e) The NFE is not yet operating a business and has no prior operating history, but is investing capital into assets with the intent to operate a business other than that of a Financial Institution, provided that the NFE does not qualify for this exception after the date that is 24 months after the date of the initial organisation of the NFE; (f) The NFE was not a Financial Institution in the past five years, and is in the process of liquidating its assets or is reorganising with the intent to continue or recommence operations in a business other than that of a Financial Institution; (g) The NFE primarily engages in financing and hedging transactions with, or for, Related Entities that are not Financial Institutions, and does not provide financing or hedging services to any Entity that is not a Related Entity, provided that the group of any such Related Entities is primarily engaged in a business other than that of a Financial Institution, or (h) The Entity is a non-profit organisation. Passive n-financial Entity (PNFE) A Passive NFE is any n-financial Entity that is not an Active NFE, or an Investment Entity that is not a Participating Jurisdiction Financial Institution. n-financial Entity (NFE) The term NFE means any Entity that is not a Financial Institution. Investment Entity The term Investment Entity means any Entity: (a) Which primarily conducts as a business one or more of the following activities or operations for or on behalf of a customer: (i) Trading in money market instruments (cheques, bills, certificates of deposit, derivatives, etc.); foreign exchange; exchange, interest rate and index instruments; transferable securities; or commodity futures trading; (ii) Individual and collective portfolio management; or (iii) Otherwise investing, administering, or managing Financial Assets or money on behalf of other persons; or (b) The gross income of which is primarily attributable to investing, reinvesting, or trading in Financial Assets, if the Entity is managed by another Entity that is a Depository Institution, a Custodial Institution, a Specified Insurance Company, or an Investment Entity described in subparagraph A(6)(a) of the EU Directive on Administrative Co-operation 2014/107/EU An Entity is treated as primarily conducting as a business one or more of the activities described in subparagraph A(6)(a), or an Entity s gross income is primarily attributable to investing, reinvesting, or trading in Financial Assets for the purposes of subparagraph A(6)(b), if the Entity s gross income attributable to the relevant activities equals or exceeds 50% of the Entity s gross income during the shorter of: (i) The three-year period ending on 31 December of the year preceding the year in which the determination is made; or (ii) The period during which the Entity has been in existence. The term Investment Entity does not include an Entity that is an Active NFE because that Entity meets any of the criteria in subparagraphs D(8)(d) through (g) of the EU Directive on Administrative Co-operation 2014/107/ EU. This paragraph shall be interpreted in a manner consistent with similar language set forth in the definition of financial institution in the Financial Action Task Force Recommendations. Participating Jurisdiction The term Participating Jurisdiction means a jurisdiction which has an agreement in place to exchange information in accordance with the OECD Common Reporting Standard. Alliance Trust Savings PO Box 164, 8 West Marketgait, Dundee DD1 9YP T +44 (0)1382 573737 F +44 (0)1382 321183 E contact@alliancetrust.co.uk alliancetrustsavings.co.uk Alliance Trust Savings Limited is a subsidiary of Alliance Trust PLC and is registered in Scotland. SC 98767, registered office, PO Box 164, 8 West Marketgait, Dundee DD1 9YP; is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 116115. Alliance Trust Savings gives no financial or investment advice. Calls may be recorded for training and monitoring purposes. ATS AIDA F 0002 (9659)
Direct Debit instruction Page 13 of 13 Instruction to your bank or building society to pay by Direct Debit. Complete and return to: Alliance Trust Savings Limited, PO Box 164, 8 West Marketgait, Dundee DD1 9YP. Alliance Trust Savings number (Alliance Trust Savings use only): Originator s ID 8 0 7 3 4 1 Full name: Permanent residential Name(s) of Account holder(s): Name(s) of Account holder(s): Branch Sort code: Account Direct Debit instruction Pay Alliance Trust Savings Limited Direct Debits from the Account detailed in this instruction subject to the safeguards assured by the Direct Debit Guarantee. I understand that this instruction may remain with Alliance Trust Savings Limited and, if so, details will be passed on electronically to my bank/building society. Signature: Signature: : : Alliance Trust Savings PO Box 164, 8 West Marketgait, Dundee DD1 9YP T +44 (0)1382 573737 F +44 (0)1382 321183 E contact@alliancetrust.co.uk alliancetrustsavings.co.uk Alliance Trust Savings Limited is a subsidiary of Alliance Trust PLC and is registered in Scotland. SC 98767, registered office, PO Box 164, 8 West Marketgait, Dundee DD1 9YP; is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 116115. Alliance Trust Savings gives no financial or investment advice. Calls may be recorded for training and monitoring purposes. ATS AIDA F 0002 (9659) Direct Debit guarantee This guarantee should be detached and retained by the payer. This guarantee is offered by all banks and building societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own bank or building society. If the amounts to be paid or the payment dates change, Alliance Trust Savings will notify you 10 working days in advance of your Account being debited or as otherwise agreed. If an error is made by Alliance Trust Savings or your bank or building society, you are guaranteed a full and immediate refund from your branch of the amount paid. You can cancel a Direct Debit at any time, by writing to your bank or building society. Please also send a copy of your letter to us.