Passive NFE definition

Passive NFE. Under the CRS a “Passive NFE” means any NFE that is not an Active NFE. An Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution is also treated as a Passive NFE for purposes of the CRS.

Passive NFE means any: (i) NFE that is not an Active NFE; and (ii) Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution.

Passive NFE. Under the CRS a “Passive NFE” means any:

Examples of Passive NFE in a sentence

• If any of the Controlling Persons of a Passive NFE is a Reportable Person, then the account must be treated as a Reportable Account.

• Determining whether a Controlling Person of a Passive NFE is a Reportable Person.

• Determine Whether the Entity is a Passive NFE with One or More Controlling Persons Who Are Reportable Persons.

• With respect to an Account Holder of a New Entity Account (including an Entity that is a Reportable Person), the Reporting Financial Institution must determine whether the Account Holder is a Passive NFE with one or more Controlling Persons who are Reportable Persons.

• For purposes of determining whether a Controlling Person of a Passive NFE is a Reportable Person, a Reporting Financial Institution may rely on a self-certification from the Account Holder or such Controlling Person.

More Definitions of Passive NFE

Passive NFE means any NFE that is not (i) an Active NFE, or (ii) an Investment Entity that is not a Participating Jurisdiction Financial Institution

Passive NFE. Means any:

Passive NFE means any:

Passive NFE means: (i) an NFE that is not an Active NFE; or (ii) an Investment Entity located in a CRS Non-Participating Jurisdiction and managed by another Financial Institution.

Passive NFE means any: (i) NFE that is not an Active NFE; and (ii) Investment Entity described in subparagraph b) of the “Investment Entity” definition that is not a Participating Jurisdiction Financial Institution. An Entity is a “Related Entity” of another Entity if (i) either Entity controls the other Entity; (ii) the two Entities are under common control; or (iii) the two Entities are Investment Entities described in subparagraph b) of the “Investment Entity” definition, are under common management, and such management fulfils the due diligence obligations of such Investment Entities. For this purpose control includes direct or indirect ownership of more than 50 % of the vote and value in an Entity.

Passive NFE means any NFE that is not an Active NFE. Moreover, an Account Holder that is a Professionally Managed Investment Entity in a Non-Participating Jurisdiction as far the Relevant Jurisdiction is concerned, will be deemed a Passive NFE Account Holder under the CRS.

Passive NFE. Under the CRS a “Passive NFE” means any: (i) NFE that is not an Active NFE; and (ii) Investment Entity