Excepted nonfinancial start-up company

FATCA

  • Was formed no earlier than 24 months ago;
  • Is not yet operating a business and has no prior operating history or is investing capital in assets with the intent to operate a new line of business other than that of a financial institution or passive NFFE;
  • Is investing capital into assets with the intent to operate a business other than that of a financial institution; and
  • Does not function (or hold itself out) as an investment fund, such as a private equity fund, venture capital fund, leveraged buyout fund, or any investment vehicle whose purpose is to acquire or fund companies and then hold interests in those companies as capital assets for investment purposes.

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