Get (FATCA) Account Information Form - First Trust Bank - Personal Firsttrustbank Co

FFI Foreign Financial Institution. An FFI is defined as any non-U.S. financial institution. The FATCA legislation contains an extensive definition of FFI and includes entities such as banks, custodian institutions, investment funds and certain types of insurance companies.

The Foreign Account Tax Compliance Act (FATCA) is tax information reporting regime, which requires Financial Institutions (FIs) to identify their U.S. accounts through enhanced due diligence reviews and report them periodically to the U.S. Internal Revenue Service (IRS) or in case of Inter-Governmental agreement(IGA), ...

The FFI list is issued by the IRS and includes all financial institutions, branches, direct reporting non-financial foreign entities, sponsored entities, and sponsored subsidiary branches that have submitted a registration and have been assigned a Global Intermediary Identification Number (GIIN) at the time the list ...

The term “foreign financial institution” means any financial institution which is a foreign entity.

Who is required to report under FATCA? Withholding agents and account holders are required to report under FATCA. However, different reporting requirements and forms apply to withholding agents and account holders.

Information for foreign financial institutions.

You can check the status of your FATCA registration by logging into your FATCA account and checking the account status displayed on the home page. The system will also generate automatic email notifications to the responsible officer (RO) to check the FATCA account when a registration changes.

FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest.