Frequently asked questions about Form 289

No.

No. Financial accounts held by a corporation whose share capital is regularly traded on one or more recognised stock exchanges or a corporation that is a related entity of a corporation whose share capital is regularly traded on one or more recognised stock exchanges shall not be declared. All of this in accordance with the definitions in Section VIII of the Annex to Royal Decree 1021/2015, specifically the one referring to “person subject to communication of information” within section D. Account subject to communication of information.

Because a custodial account is an account, other than an insurance contract or an annuity contract, in which one or more financial assets are deposited for the benefit of another person and the term financial assets does not include money, accounts in which the Financial Institution holds customer funds are not custodial accounts . Such accounts may constitute deposit accounts, to the extent that the Financial Institution maintains the accounts in the ordinary course of a banking or similar business.