[New post] USFI


Haydon Perryman, CGMA posted: “07.05 – Identification of an entity as a Financial Institution

In order to identify whether an entity is a Financial Institution, information maintained for regulatory or customer relationship purposes (including information collected as part of any AML/”

New post on FATCA, IGAs, AEI/CRS, DAC, CDOT & 871(m)

USFI

by Haydon Perryman, CGMA

07.05 – Identification of an entity as a Financial Institution

In order to identify whether an entity is a Financial Institution, information maintained for regulatory or customer relationship purposes (including information collected as part of any AML/KYC procedure) or a Global Intermediary Identification Number can be relied upon.

If the entity is a non-US Financial Institution, including Non-Reporting Financial Institutions listed in Annex II (both Exempt Beneficial Owners and Deemed Compliant Financial Institutions) then that account is not a ‘Reportable Account’, however, there may still be reporting obligations if the entity is a Non-Participating Financial Institution.

If the entity is a US Financial Institution, then that account will NOT be a ‘Reportable Account’ if the Financial Institution is included in the list of exceptions for Specified US Persons at definition gg.

07.05 – Identification of an entity as a Financial Institution

In order to identify whether an entity is a Financial Institution, information maintained for regulatory or customer relationship purposes (including information collected as part of any AML/KYC procedure) or a Global Intermediary Identification Number can be relied upon.

If the entity is a non-US Financial Institution, including Non-Reporting Financial Institutions listed in Annex II (both Exempt Beneficial Owners and Deemed Compliant Financial Institutions) then that account is not a ‘Reportable Account’, however, there may still be reporting obligations if the entity is a Non-Participating Financial Institution.

If the entity is a US Financial Institution, then that account will NOT be a ‘Reportable Account’ if the Financial Institution is included in the list of exceptions for Specified US Persons at definition gg.

07.05 – Identification of an entity as a Financial Institution

Haydon Perryman, CGMA | February 12, 2016 at 12:52 am | Tags: $UK IGA Guidance , AML/KYC Procedure , Annex II , GATCA Teaching Notes , GIIN , Identification of an entity as a Financial Institution , IGAs , NPFI , USFI

| Categories: GATCA

| URL: http://wp.me/s4BlQ5-usfi

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Haydon Perryman, CGMA posted: "07.05 – Identification of an entity as a Financial Institution

In order to identify whether an entity is a Financial Institution, information maintained for regulatory or customer relationship purposes (including information collected as part of any AML/"

New post on FATCA, IGAs, AEI/CRS, DAC, CDOT & 871(m)

USFI

by Haydon Perryman, CGMA

07.05 – Identification of an entity as a Financial Institution

In order to identify whether an entity is a Financial Institution, information maintained for regulatory or customer relationship purposes (including information collected as part of any AML/KYC procedure) or a Global Intermediary Identification Number can be relied upon.

If the entity is a non-US Financial Institution, including Non-Reporting Financial Institutions listed in Annex II (both Exempt Beneficial Owners and Deemed Compliant Financial Institutions) then that account is not a ‘Reportable Account’, however, there may still be reporting obligations if the entity is a Non-Participating Financial Institution.

If the entity is a US Financial Institution, then that account will NOT be a ‘Reportable Account’ if the Financial Institution is included in the list of exceptions for Specified US Persons at definition gg.

07.05 – Identification of an entity as a Financial Institution
In order to identify whether an entity is a Financial Institution, information maintained for regulatory or customer relationship purposes (including information collected as part of any AML/KYC procedure) or a Global Intermediary Identification Number can be relied upon.
If the entity is a non-US Financial Institution, including Non-Reporting Financial Institutions listed in Annex II (both Exempt Beneficial Owners and Deemed Compliant Financial Institutions) then that account is not a ‘Reportable Account’, however, there may still be reporting obligations if the entity is a Non-Participating Financial Institution.

If the entity is a US Financial Institution, then that account will NOT be a ‘Reportable Account’ if the Financial Institution is included in the list of exceptions for Specified US Persons at definition gg.

07.05 – Identification of an entity as a Financial Institution

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