Common use of Reporting Model 1 FFI Clause in Contracts

Reporting Model 1 FFI. The term “Reporting Model 1 FFI” means a Financial Institution with respect to which a non-U.S. government or agency thereof agrees to obtain and exchange information pursuant to a Model 1 IGA, other than a Financial Institution treated as a Nonparticipating Financial Institution under the Model 1 IGA. For purposes of this definition, the term “Model 1 IGA” means an arrangement between the United States or the Treasury Department and a non-U.S. government or one or more agencies thereof to implement FATCA through reporting by Financial Institutions to such non-U.S. government or agency thereof, followed by automatic exchange of such reported information with the IRS.

Reporting Model 1 FFI. The term “Reporting Model 1 FFI” FFI means a Financial Institution with respect to which a non-U.S. government or agency thereof agrees to obtain and exchange information pursuant to a Model 1 IGAintergovernmental agreement, other than a Financial Institution treated as a Nonparticipating Financial Institution under the Model 1 IGAintergovernmental agreement. For purposes of this definition, the term “Model 1 IGA” intergovernmental agreement means an arrangement between the United States or the Treasury Department and a non-U.S. government or one or more agencies thereof to implement FATCA through reporting by Financial Institutions to such non-non- U.S. government or agency thereof, followed by automatic exchange of such reported information with the IRS.

Reporting Model 1 FFI. The term “Reporting Model 1 FFI” FFI means a Financial Institution Institu- tion with respect to which a non-U.S. government or agency thereof agrees to obtain and exchange information pursuant to a Model 1 IGA, other than a Financial Institution Institu- tion treated as a Nonparticipating Financial Institution under the Model 1 IGA. For purposes of this definition, the term “Model 1 IGA” IGA means an arrangement between the United States or the Treasury Department and a non-U.S. government or one or more agencies thereof to implement FATCA through reporting by Financial Institutions to such non-U.S. government or agency thereof, followed by automatic exchange of such reported information with the IRS.

Reporting Model 1 FFI. The term “Reporting Model 1 FFI” FFI means a Financial Institution with respect to which a non-U.S. government or agency thereof agrees to obtain and exchange information pursuant to a Model 1 IGAintergovernmental agreement, other than a Financial Institution treated as a Nonparticipating Financial Institution under the Model 1 IGAintergovernmental agreement. For purposes of this definition, the term “Model 1 IGA” intergovernmental agreement means an arrangement between the United States or the Treasury Department and a non-U.S. government or one or more agencies thereof to implement FATCA through reporting by Financial Institutions to such non-U.S. government or agency thereof, followed by automatic exchange of such reported information with the IRS.