NPFFI definition

NPFFI means Nonparticipating FFI which is an FFI other than a Participating FFI, a Deemed- Compliant FFI or an Exempt Beneficial Owner.
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NPFFI means a non-participating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a Malaysian Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution treated as a Nonparticipating FFI pursuant to provisions in an agreement between U.S. and Malaysia (where available).
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Examples of NPFFI in a sentence

  • In the case of a Trust this means – Non-participating foreign financial institution - An FFI that does not enter into an agreement with the IRS is referred to as a “non-participating foreign financial institution” (NPFFI), and is subject to withholding under FATCA.

  • The Subscriber agrees to promptly notify the General Partner should the Subscriber's status under FATCA change to that of a NPFFI or a Passive NFFE that fails to certify as to its substantial U.S. owners or that it has no substantial U.S. owners.

  • The Subscriber represents and warrants that the Subscriber has a status under the Foreign Account Tax Compliance Act, Sections 1471-1474 of the Code, and the regulations, orders, guidelines and agreements promulgated thereunder (collectively, "FA TCA") other than that of a "nonparticipating foreign financial institution" ("NPFFI") or a "Passive nonfinancial foreign entity" ("Passive NFFE") that fails to certify as to its substantial U.S. owners or that it has no substantial U.S. owners.

  • The Partnership might find itself in a position to close out any NPFFI or Recalcitrant Holder (by for example, forcing it to sell its Limited Partnership Units) in order to comply with its obligations under IGA Model 1 and avoid U.S. withholding tax.