FFI

Also see “FI”

FATCA

Definition of FFI [§1.1471-5(d)]

The term FFI means, with respect to any entity that is not resident in a country that has in effect a Model 1 IGA or Model 2 IGA, any financial institution (as defined in paragraph (e) of this section) that is a foreign entity. With respect to any entity that is resident in a country that has in effect a Model 1 IGA or Model 2 IGA, an FFI is any entity that is treated as a Financial Institution pursuant to such Model 1 IGA or Model 2 IGA. A territory financial institution is not an FFI under this paragraph (d).

3 thoughts on “FFI

  1. Dear Haydon, According to your opinion the following NACE codes specific institutions are considered as Financial Institutions under FATCA?
    – 6491 Financial leasing
    – 6492 Other credit granting
    – 6530 Pension funding
    – 6629 Other activities auxiliary to insurance and pension funding
    I did not find a reliable support document on the Internet only this one (It is a bank’s quide, Appendix I. contains the NACE codes):
    https://www.ing.be/static/legacy/SiteCollectionDocuments/USCornerFAQEN.pdf
    Br.,
    Katie

  2. Sorry, i was not clear. It was a question. What is your opinion these NACE codes institutions are considered as Financial Institutions or not under FATCA? Those status is not clear for me.

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