Custodial Institution definition

Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity’s gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.
Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the Entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the Entity’s gross income during the shorter of:
Custodial Institution means any Entity that holds, as a substantial portion of its business, Financial Assets for the account of others. This is where the Entity’s gross income attributable to the holding of Financial Assets and related financial services equals or exceeds 20% of the Entity’s gross income during the shorter of: (i) the three-year period that ends on 31 December (or the final day of a non-calendar year accounting period) prior to the year in which the determina- tion is being made; or (ii) the period during which the Entity has been in existence.

Examples of Custodial Institution in a sentence

  • Other Investment Entity (Note: if ticking this box please also complete b) (b) Financial Institution – Depository Institution, Custodial Institution or Specified Insurance Company If you have ticked i) or ii) above, please also provide, if held, the Global Intermediary Identification Number (“GIIN”) obtained for FATCA purposes.

  • The second type of “Investment Entity” (“Investment Entity managed by another Financial Institution”) is any Entity the gross income of which is primarily attributable to investing, reinvesting, or trading in Financial Assets where the Entity is managed by another Entity that is a Depository Institution, a Custodial Institution, a Specified Insurance Company, or the first type of Investment Entity.

  • FATCA CLASSIFICATIONS DEFINITIONSForeign Financial Institution (FFI)FFI relates to the term “Financial Institution” and refers to Non-US Financial Institutions under the FATCA regime.Financial Institutions include a Depository Institution, a Custodial Institution, an Investment Entity, or Specified Insurance Company.


More Definitions of Custodial Institution

Custodial Institution means any entity that holds, as a substantial portion of its business, financial assets for the account of others;
Custodial Institution means any Entity that holds, as a substantial portion of its business, Financial Assets for the account of others. An Entity holds Financial Assets for the account of others as a substantial portion of its business if the Entity’s gross income attributable to the holding of Financial Assets and related financial services equals or exceeds twenty per cent of the Entity’s gross income during the shorter of -
Custodial Institution means a prison, a young offender institution, a secure training centre, a young offenders institution, a young offenders centre, a juvenile justice centre or a remand centre;
Custodial Institution means any entity that holds, as a "substantial portion" of its business, financial assets for the account of others. Custodial institutions can include custodial banks, trust companies or brokers, in certain circumstances. An entity will hold financial assets for the account of others as a "substantial portion" of its business if its gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of its total gross income over, in generalterms, a specified -3year period (or over the period that the entity has been in existence, if that is less than 3 years). The relevant three year period is the entiThe term income attributable to holding financial assets and related financial services means custody, account maintenance, and transfer fees; commissions and fees earned from executing and pricing securities transactions; income earned from extending credit to customers with respect to financial assets held in custody by the entity (or acquired through such extension of credit); income earned on the bid-ask spread of financial assets; fees for providing financial advice with respect to financial assets held in (or potentially to be held in) custody by the entity; and fees for clearance and settlement services. An execution only broker that simply executes trading instructions, or receives and transmits such instructions to anotherxeecuting broker, will not hold assets for the account of others and should not be a custodial institution (although it is possible that it could be an investment entity).Entities that only provide advice, do not hold, and will not hold financial assets; and therefore have no financial accounts should not be treated as custodial institutions. As noted above, the term “income attributable to holding financial assets” from financial assets is limited to providing financial advice with respect to financial assets held in (or to be held in) custody by the entity.
Custodial Institution means any of the following
Custodial Institution means any entity that holds, as a substantial portion of its business, financial assets for the account of others “depository institution” means any entity that accepts deposits in the ordinary course of a banking or similar business; “investment entity” means any entity, -
Custodial Institution means any Entity that holds, as a substantial portion of its business, Financial Assets on behalf of others;