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(4) Finally, if a reporting Canadian financial institution previously obtained documentation from an account holder establishing that the holder is not a US citizen or resident, in order to meet the institution’s obligations for certain other US tax purposes, it is not required to complete the due diligence requirements for lower-value accounts or the requirements for high-value accounts except the relationship manager inquiry. The Treasury regulations provide a similar exemption. The due diligence requirements for new accounts also differ depending on the value of the account: 1. Depository accounts and cash value insurance contracts not exceeding us $50,000 at the end of any calendar year or other appropriate reporting period are not required to be reviewed, identified, or reported as US reportable accounts. Similar to the exemptions for pre-existing accounts, reporting Canadian financial institutions are allowed to review, identify, and report these accounts as US reportable accounts despite these exemptions. These due diligence requirements are consistent with the Treasury regulations. 2. For all other new accounts, the reporting Canadian financial institution must obtain self-certification from the account holder that allows the institution to determine whether the holder is a us resident for tax purposes, and to confirm the reasonableness of the certification when the account is opened or within 90 days after the account ceases to be an exempt account as described above. If the self-certification establishes that the account holder is a US resident for tax purposes, the reporting Canadian financial institution must treat the account as a US reportable account and obtain the holder’s taxpayer identifying number.