Provide the account balance or value of the reported financial account.
• Depository and custodial accounts. The account balance is the average balance or value
of the financial account, if the financial institution reports average balance or value to the
account holder for a calendar year. If the reporting financial institution does not report the
average balance or value of the account to the account holder, the participating FFI shall
report the balance or value of the account as of the end of the calendar year. If account is
closed or transferred in its entirety by an account holder during a calendar year, report the
amounts paid or credited to the account for the calendar year until the date of transfer or
closure, and the amount or value withdrawn or transferred from the account in connection
with the closure or transfer. For Model 1 IGA tax authorities, the account balance or value
shall be in accordance with the terms of the Model 1 IGA.