An IQ may continue to apply the rules of Sections 4 and 4A of the previous IQ Agreement (as in the 2002-12, 2000-1 C.B 387 (published as amended) procedure) to a PAI, partnership or trust to which it has applied the joint account or agency option, provided that the IQ has entered into an agreement with that enterprise before 30 June 2014, under the terms of the old IQ agreement. The legislation aims to set up a simplified U.S. withholding tax management system for all non-U.S. intermediaries who sign an agreement (QI agreement) with the IRS. While introducing strict obligations for subscribers, the agreement also ensures that Qi customers` income can benefit from tax benefits. Total taxation, 30% of the gross value of income, can be reduced and, in some cases, avoided (e.g. B interest on securities in the portfolio). .