Examples of FFI Agreement in a sentence
Subject to the provisions of paragraph 2 of Article 4 of this Agreement, each Reporting [FATCA Partner] Financial Institution that registers with the IRS 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.
In accordance with the provisions of an FFI Agreement and relevant U.S. Treasury Regulations, Reporting [FATCA Partner] 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 [FATCA Partner] Financial Institutions.
The U.S. Competent Authority shall notify the [FATCA Partner] 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 [FATCA Partner] Financial Institution.
Consistent with the terms of an FFI Agreement, [and subject to any further terms set forth in a competent authority agreement concluded pursuant to paragraph 3 of this Article,] the U.S. Competent Authority may make an inquiry directly to a Reporting [FATCA Partner] 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.