100920 – Financial Institutions: Non-Reporting Financial Institutions

All of the automatic exchange of information regimes exclude certain financial institutions from being reporting financial institutions. Such financial institutions are not required to identify, maintain or report information about Reportable Persons.

These institutions are identified in Annex II of the IGA with the USA for FATCA purposes and Annex II of the IGAs with the Crown Dependencies and Gibraltar for CDOT reporting.

For the purposes of the DAC (which is implemented in the UK by the 2015 Regulations, and which are applicable for reporting by UK financial institutions) the only Non-reporting Financial Institutions are those defined in Annex I Section XIII B.