FFI Agreement Clause Samples

FFI Agreement. The text of the FFI agreement is set forth below. The IRS will not provide signed copies of the FFI agreement. Section 1. PURPOSE AND SCOPE Section 2.

FFI Agreement. The term FFI agreement means an agreement that is described in § 1.1471–4(a). An FFI agree- ment includes a QI agreement, a WP agreement, and a WT agreement that is entered into by an FFI (other than an FFI that is a registered deemed-com- pliant FFI, including a reporting Model 1 FFI) and that has an effective date or renewal date on or after June 30, 2014. The term FFI agreement also includes a QI agreement that is entered into by a foreign branch of a U.S. financial insti- tution (other than a branch that is a reporting Model 1 FFI) and that has an effective date or renewal date on or after June 30, 2014.

FFI Agreement. In general. An FFI agreement will be in effect in accordance with section 1471(b) if an FFI registers with the IRS pursuant to procedures prescribed by the IRS and agrees to comply with the terms of an FFI agreement. The FFI agreement will incorporate the re- quirements set forth in this section, any modifications set forth in an appli- cable Model 2 IGA, and any provisions applicable to a reporting Model 1