Non-Reporting Financial Institution definition
Examples of Non-Reporting Financial Institution in a sentence
Are you a Financial Institution for the purposes of CRS?Yes: Specify the type of Financial Institution below and continue to question 9 Reporting Financial InstitutionNon-Reporting Financial Institution: Specify the type of Non-Reporting Financial Institution below Trustee Documented TrustOther: Please Specify No: Skip to question 109.
With respect to New Entity Accounts not described in paragraph A of this section, the Reporting Financial Institution must determine whether the Account Holder is: (i) a Specified Person; (ii) a Non-Resident Entity which is a Financial Institution; (iii) a Non-Reporting Financial Institution; (iv) an exempt beneficial owner; (v) an Active NFFE or Passive NFFE.
A Reporting Financial Institution or Non-Reporting Financial Institution is not subject to withholding under FATCA on any payments it receives.
A Non-Reporting Financial Institution will not need to obtain a Global Intermediary Identification Number (GIIN) or carry out the due diligence and reporting obligations under the Agreement.
Where a trust that is a Jersey Financial institution is treated as a Non-Reporting Financial Institution, underlying Related Entities (see section 3.13) that are Guernsey, Jersey or Isle of Man Financial Institutions may also be treated as Non- Reporting Financial Institutions.