Examples of FFI Agreement in a sentence
The U.S. Competent Authority shall notify the Austrian Competent Authority when the U.S. Competent Authority has determined that there is significant non-compliance with the requirements of an FFI Agreement or this Agreement with respect to a Reporting Austrian Financial Institution.
In accordance with the provisions of an FFI Agreement and relevant U.S. Treasury Regulations, Reporting Austrian Financial Institutions may use third party service providers to fulfill the requirements of an FFI Agreement, but these requirements shall remain the responsibility of the Reporting Austrian Financial Institutions.
Subject to the provisions of paragraph 2 of Article 4 of this Agreement, each Reporting Austrian Financial Institution that registers with the IRS on the IRS FATCA registration website and complies with the terms of an FFI Agreement shall be treated as complying with the requirements of, and as not subject to withholding under, section 1471 of the U.S. Internal Revenue Code.
Consistent with the terms of an FFI Agreement, the U.S. Competent Authority may make an inquiry directly to a Reporting Austrian Financial Institution where it has reason to believe that administrative errors or other minor errors may have led to incorrect or incomplete information reporting inconsistent with the requirements of an FFI Agreement.