Examples of Reporting United Kingdom Financial Institution in a sentence
A trust resident in the United Kingdom to the extent that the trustee of the trust is a Reporting United Kingdom Financial Institution and reports all information required to be reported pursuant to the Agreement with respect to all Isle of Man Reportable Accounts of the trust.
A trust resident in the United Kingdom to the extent that the trustee of the trust is a Reporting United Kingdom Financial Institution and reports all information required to be reported pursuant to the Agreement with respect to all Jersey Reportable Accounts of the trust.
A trust resident in the United Kingdom to the extent that the trustee of the trust is a Reporting United Kingdom Financial Institution and reports all information required to be reported pursuant to the Agreement with respect to all Guernsey Reportable Accounts of the trust.
Where the United Kingdom Competent Authority elects to use IDES as an M1O2 data collection tool, the United Kingdom Competent Authority intends to maintain Confidentiality Protections from the time information is successfully uploaded by a Reporting United Kingdom Financial Institution or by or on behalf of a Paragraph 1.1.2 Financial Institution to IDES.
Lack of compliance with other conditions set forth in Article 4, such as compliance with applicable registration requirements, may also lead to a determination of significant non-compliance with regard to a Reporting United Kingdom Financial Institution.
The U.S. Competent Authority may find significant non-compliance based on a failure by a Reporting United Kingdom Financial Institution to report information on U.S. Reportable Accounts, as specified in Article 4(1) (a) of the IGA, or on 2015 and 2016 payments to Nonparticipating Financial Institutions, as specified in Article 4(1) (b) of the IGA.
The United Kingdom Competent Authority should notify the relevant Reporting United Kingdom Financial Institution of the significant non-compliance determination, including the date the U.S. Competent Authority provided notice of such non-compliance to the United Kingdom Competent Authority (per Paragraph 3.3.4).
The notice should also indicate that if the significant non-compliance is not cured within eighteen (18) months after the date the U.S Competent Authority provided notice to the United Kingdom Competent Authority, the relevant Reporting United Kingdom Financial Institution may be treated as a Nonparticipating Financial Institution, its name may be removed from the IRS FFI list, and it may therefore be subject to 30-percent withholding under section 1471(a) of the U.S. Internal Revenue Code.
The Competent Authorities also note the IRS intends to issue a unique Global Intermediary Identification Number (“GIIN”) to each Reporting United Kingdom Financial Institution and Paragraph 1.1.2 Financial Institution that successfully completes the FATCA registration requirements.
If a Preexisting Individual Account is a High Value Account as of December 31, 2013, the Reporting United Kingdom Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by December 31, 2014.