Participating Financial Institution (PFFI)

FATCA

An FFI that:

  1. is registering to agree to enter into an FFI Agreement,
  2. is treated as a Reporting Fl under a Model 2 IGA and that is certifying that it will comply with the terms of an FFI Agreement, as modified by the terms of the applicable Model 2 IGA, or
  3. is a foreign branch of a USFI that has in effect a Ql Agreement and that is also agreeing to the terms of an FFI Agreement, unless such branch is treated as a Reporting Fl under a Model 1 IGA (see RDCFFI definition).

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