|To mirror the categories in the U.S. Regulations certain group companies (likely to be holding companies or treasury centres of international groups) will be regarded as Certified Deemed-Compliant Financial Institutions.
This category applies to an entity that is a member of a participating FFI group if-(A) The entity does not maintain financial accounts (other than accounts maintained for members of its expanded affiliated group);
(B) The entity does not hold an account with or receive payments from any withholding agent other than a member of its expanded affiliated group;
(C) The entity does not make withholdable payments to any person other than to members of its expanded affiliated group that are not limited FFIs or limited branches; and
Participating FFI group
A participating FFI group is
A participating FFI is an FFI that has agreed to comply with the requirements of an FFI agreement, including an FFI described in a Model 2 IGA that has agreed to comply with the requirements of an FFI agreement. The term participating FFI also includes a QI branch of a U.S. financial institution, as long as the branch is not a reporting Model 1 FFI.