Sponsored, Closely Held Investment Vehicle. A Singaporean Financial Institution satisfying the following requirements:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity and is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations;
2. The sponsoring entity is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI, is authorized to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Singaporean Financial Institution;
3. The Financial Institution does not hold itself out as an investment vehicle for unrelated parties;
4. Twenty or fewer individuals own all of the debt interests and Equity Interests in the Financial Institution (disregarding debt interests owned by Participating FFIs and deemed-compliant FFIs and Equity Interests owned by an Entity if that Entity owns 100 percent of the Equity Interests in the Financial Institution and is itself a sponsored Financial Institution described in this paragraph C); and
5. The sponsoring entity complies with the following requirements:
a) The sponsoring entity has registered as a sponsoring entity with the IRS on the IRS FATCA registration website;
b) The sponsoring entity agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Singaporean Financial Institution and retains documentation collected with respect to the Financial Institution for a period of six years;
c) The sponsoring entity identifies the Financial Institution in all reporting completed on the Financial Institution’s behalf; and
d) The sponsoring entity has not had its status as a sponsor revoked.
Sponsored, Closely Held Investment Vehicle. An Austrian Financial Institution satisfying the following requirements is a Non-Reporting Austrian Financial Institution treated as a certified deemed-compliant FFI for purposes of section 1471 of the U.S. Internal Revenue Code:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity and is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations;
2. The sponsoring entity is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI, is authorized to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Austrian Financial Institution;
3. The Financial Institution does not hold itself out as an investment vehicle for unrelated parties;
4. Twenty or fewer individuals own all of the debt interests and Equity Interests in the Financial Institution (disregarding debt interests owned by Participating FFIs and deemed-compliant FFIs and Equity Interests owned by an Entity if that Entity owns 100 percent of the Equity Interests in the Financial Institution and is itself a sponsored Financial Institution described in this paragraph C); and
5. The sponsoring entity complies with the following requirements:
a) The sponsoring entity has registered as a sponsoring entity with the IRS on the IRS FATCA registration website;
b) The sponsoring entity agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Austrian Financial Institution and retains documentation collected with respect to the Financial Institution for a period of six years;
c) The sponsoring entity identifies the Financial Institution in all reporting completed on the Financial Institution’s behalf; and
d) The sponsoring entity has not had its status as a sponsor revoked. The IRS may revoke a sponsoring entity’s status as a sponsor with respect to all sponsored Financial Institutions if there is a material failure by the sponsoring entity to comply with its obligations described above with respect to any sponsored Financial Institution.
Sponsored, Closely Held Investment Vehicle. A British Virgin Islands Financial Institution satisfying the following requirements:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity;
2. The sponsoring entity is a Reporting British Virgin Islands Financial Institution, is authorised to act on behalf of the Financial Institution (such as a professional manager, trustee, a licensed registered agent, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, reporting and other requirements that the Financial Institution would have been required to perform if it were a Reporting British Virgin Islands Financial Institution;
3. The Financial Institution does not hold itself out as an investment vehicle for unrelated parties:
4. Twenty or fewer individuals own all of the debt interests and Equity Interests in the Financial Institution (disregarding debt interests owned by Financial Institutions and Equity Interests owned by an Entity if that Entity owns 100 per cent of the Equity Interests in the Financial Institution and is itself a sponsored Financial Institution described in this paragraph C); and
5. The sponsoring entity complies with the following requirements:
a) The sponsoring entity is a British Virgin Islands Financial Institution;
b) The sponsoring entity agrees to perform, on behalf of the Financial Institution, all due diligence, reporting and other requirements that the Financial Institution would have been required to perform if it were a Reporting British Virgin Islands Financial Institution and retains documentation collected with respect to the Financial Institution for a period of six years;
c) The sponsoring entity identifies the Financial Institution in accordance with the applicable registration requirements of the British Virgin Islands Competent Authority in all reporting completed on the Financial Institution’s behalf; and
d) The sponsoring entity has notified the British Virgin Islands Competent Authority of its status as a sponsor in respect of the Financial Institution and has not had its status as a sponsor revoked by the British Virgin Islands Competent Authority.
Sponsored, Closely Held Investment Vehicle. A Gibraltar Financial Institution satisfying the following requirements:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity;
2. The sponsoring entity is a Reporting Gibraltar Financial Institution, is authorised to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, reporting and other requirements that the Financial Institution would have been required to perform if it were a Reporting Gibraltar Financial Institution;
Sponsored, Closely Held Investment Vehicle. A St. Xxxxxxx and the Grenadines Financial Institution satisfying the following requirements:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity and is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations;
2. The sponsoring entity is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI, is authorized to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting St. Xxxxxxx and the Grenadines Financial Institution;
Sponsored, Closely Held Investment Vehicle. A Bahamas Financial Institution satisfying the following requirements:
Sponsored, Closely Held Investment Vehicle. A Belarusian Financial Institution satisfying the following requirements:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity and is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations;
2. The sponsoring entity is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI, is authorized to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Belarusian Financial Institution;
Sponsored, Closely Held Investment Vehicle. A Financial Institution of the Republic of Kazakhstan satisfying the following requirements:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity and is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations;
2. The sponsoring entity is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI, is authorized to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Financial Institution of the Republic of Kazakhstan;
Sponsored, Closely Held Investment Vehicle. A Georgian Financial Institution satisfying the following requirements:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity and is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations;
2. The sponsoring entity is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI, is authorized to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Georgian Financial Institution;
Sponsored, Closely Held Investment Vehicle. A Hellenic Republic Financial Institution satisfying the following requirements:
1. The Financial Institution is a Financial Institution solely because it is an Investment Entity and is not a qualified intermediary, withholding foreign partnership, or withholding foreign trust pursuant to relevant U.S. Treasury Regulations;
2. The sponsoring entity is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI, is authorized to act on behalf of the Financial Institution (such as a professional manager, trustee, or managing partner), and agrees to perform, on behalf of the Financial Institution, all due diligence, withholding, reporting, and other requirements that the Financial Institution would have been required to perform if it were a Reporting Hellenic Republic Financial Institution;
