WebThe term electronically searchable information means information that a withholding agent or FFI maintains in its tax reporting files, customer master files, or similar files, and that is … WebRegistered Deemed-Compliant FFI means an FFI described in §1.1471-5 (f) (1) and includes a reporting Model 1 FFI and a nonreporting Model 2 FFI that is treated as registered deemed - compliant FFI.
FATCA glossary HSBC
WebMar 27, 2024 · Participating FFI (foreign financial institution) Deemed-compliant FFI Restricted distributor Exempt beneficial owner Nonparticipating FFI Territory financial institution Active NFFE (non-financial foreign entities) Passive NFFE Businesses that are not in the financial industry are usually classified as NFFEs, according to BDO Canada. WebA FFI will be considered a deemed-compliant sponsored investment entity under the final regulations if: it is an investment entity that is not a qualified intermediary (QI), a withholding foreign partnership (WP), or a withholding foreign trust (WT); and an entity has agreed with the FFI to act as a sponsoring entity for the FFI. oak hill animal rescue texas
FATCA Glossary
Webdefinition. Open Split View. Cite. FATCA Status means a person ’s status as a U.S. person, a . person, a foreign individual, a Participating FFI, a Deemed Compliant FFI, an Exempt Beneficial Owner, a Nonparticipating FFI, a territory financial institution, a QI branch of a U.S. financial institution, an excepted NFFE or a passive NFFE. WebA certified deemed-compliant FFI means an FFI that has certified as to its status as a deemed-compliant FFI by providing a withholding agent with the documentation applicable to the relevant deemed-compliant category. A certified deemed-compliant FFI is not required to register with the IRS. CFC Controlled Foreign Corporation oak hill and martha berry museum