Excepted nonfinancial entity in liquidation or bankruptcy


  • Has filed a plan of liquidation, filed a plan of reorganization, or filed for bankruptcy;
  • During the past 5 years has not been engaged in business as a financial institution or acted as a passive NFFE;
  • Is either liquidating or emerging from a reorganization or bankruptcy with the intent to continue or recommence operations as a nonfinancial entity; and
  • Has, or will provide, documentary evidence such as a bankruptcy filing or other public documentation that supports its claim if it remains in bankruptcy or liquidation for more than three years.

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