Examples of UK Financial Institution in a sentence
However, where such subsidiaries and branches act as introducers with regard to a Financial Account and the relevant account is held and maintained in the UK by a UK Financial Institution and is subject to UK Regulatory requirements, the account will be within the scope of the UK Agreement.
The UK Financial Institution maintaining the account(s) will be required to undertake the appropriate due diligence processes and report the appropriate details to HMRC.
Under the Agreement, a Trust that is a charitable organisation will be treated as a Non-Reporting UK Financial Institution (see Section 2.12).
Registration – Trustee documented Trust For UK resident Trusts that are Investment Entities where the Trustee of the Trust is a Reporting Model 1 Foreign Financial Institution, Participating Foreign Financial Institution or Reporting US Financial Institution, and the trustee reports all information required with respect to all US Reportable Accounts of the Trust, the Trust itself will be treated as a Non- Reporting UK Financial Institution and will not be required to register with the IRS.
A subsidiary or branch of a non-UK entity (including a US entity) carrying on a business, as a Custodial Institution, a Depository Institution, an Investment Entity, a relevant Holding Company, a Treasury Company or a Specified Insurance Company in the UK, will be a Reporting UK Financial Institution.