(A) The total gross amount of interest, the total gross amount of dividends, and the total gross amount of other income generated with respect to the assets held in the account, in each case paid or credited to the account (or with respect to the account) during the calendar year or other appropriate reporting period; and

(B) The total gross proceeds from the sale or redemption of property paid or credited to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Mexican Financial Institution acted as a custodian, broker, nominee, or otherwise as an agent for the Account Holder;

(6) In the case of any Depository Account, the total gross amount of interest paid or credited to the account during the calendar year or other appropriate reporting period; and

(7) In the case of any account not described in subparagraph (5) or (6) of this paragraph, the total gross amount paid or credited to the Account Holder with respect to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Mexican Financial Institution is the obligor or debtor, including the aggregate amount of any redemption payments made to the Account Holder during the calendar year or other appropriate reporting period.

b) In the case of the United States, with respect to each Mexican Reportable Account of each Reporting U.S. Financial Institution:

(1)The name, address, and Mexican TIN of any person that is a resident of Mexico and is an Account Holder of the account;

(2) The account number (or the functional equivalent in the absence of an account number);

(3) The name and identifying number of the Reporting U.S. Financial Institution;

(4) The gross amount of interest paid on a Depository Account;

(5) The gross amount of U.S. source dividends paid or credited to the account; and

(6) The gross amount of other U.S. source income paid or credited to the account, to the extent subject to reporting under chapter 3 or 61 of subtitle A of the U.S. Internal Revenue Code. 
 

This will affect not only US taxpayers who have unreported Mexican bank income but it will equally adversely impact Mexicans who have unreported income from deposits with US Banks.
We discuss the adverse impact on US Banks in our post "Florida Banks Explain 2013 IRS Reporting Rule For Foreigners;" where we discuss that thse new reporting rules which go into effect Jan. 1, 2013 have raised privacy concerns among some international account holders which have cause many Foreign Depositors with US Banks, especially Banks in Florida,  to move several million dollars of Deposites to other jurisdictions, since the new regulation were passed in April.