02.21 – Certified Deemed Compliant Financial Institutions

Under the Agreement non-reporting UK Financial Institutions include categories of deemed compliant Financial Institutions, excepted Financial Institutions and exempt beneficial owners as set out under the U.S. Regulations. Sections 2.22 to 2.25 (b) provide details on each of the Certified Deemed-Compliant categories. Certified Deemed-Compliant Financial Institutions are not required to register with the IRS and obtain a GIIN.