(i) if there has been a profit recognition event in a taxable year, if the profit is not reported, or if additional taxes or interest are paid under the Benefit Recognition Agreement; and (g) annual certification. Unless provided for in paragraph (d) (i) (i) of this section, the U.S. assignor must, for each of the five full taxable years following the fiscal year of the first assignment, provide a certificate (annual certificate) in a timely manner, containing, if applicable, the information described in paragraphs (g) (1) to (3) of this section. The annual certificate is signed by a person authorized, in accordance with paragraph e) (1) of this section, to sign the recognition agreement for the first transmission. The registration of an unsigned copy of the annual certificate, accompanied by the return of the U.S. cedant in a timely manner, must meet the signature requirement in paragraph (e) (1) of this section, provided that the U.S. ceded party retains the original signed certification in the manner referred to in paragraph 1.6001-1. (1) In general. This paragraph (p) facilitates the submission of an initial recognition agreement covered in paragraph (d) (1) of this section (non-compliance with the data) or if it is a triggering event referred to in paragraph j.8 of this section (non-compliance).
If the U.S. assignor demonstrates that the error was not intentional in accordance with the procedure described in this paragraph (p), it is presumed that non-compliance or non-compliance occurred for the purposes of paragraph (d) (1) of this section or paragraph (j) (8). To this end, it is appropriate to interpret deliberately, in accordance with the meaning of this concept, in the context of other civil sanctions that would involve gross negligence, negligent contempt or wilful negligence. If a breach or non-compliance was intentionally made, the Director (as described in paragraph (j) 8 of this section) will determine all the facts and circumstances. The U.S. assignor must submit an application for discharge and a statement referred to in paragraph P) (2) (i) of this section.