Reporting Guernsey Financial Institution definition

Reporting Guernsey Financial Institution means any Guernsey Financial Institution that is not a Non-Reporting Financial Institution.
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Examples of Reporting Guernsey Financial Institution in a sentence

  • A trust resident in Guernsey to the extent that the trustee of the trust is a Reporting Guernsey Financial Institution and reports all information required to be reported pursuant to the Agreement with respect to all UK Reportable Accounts of the trust.

  • This is anticipated to be through a simple ‘tick box’ confirmation at the time the Reporting Guernsey Financial Institution submits its reports.

  • The Reporting Guernsey Financial Institution, which in the case of a professionally managed trust is the trustee, has to report gross payments and movement of assets from a UK source or from a jurisdiction that cannot be determined to the Reportable Account, i.e. the equity interest in the trust.

  • Where the Estate is established by a Grant of Probate in respect of deceased persons account(s) the Reporting Guernsey Financial Institution is required (as per Section 12.2.1) to identify the Controlling Persons of the Estate.

  • If a trust is treated as a Reporting Guernsey Financial Institution in accordance with Section 3.3 and does not utilise the Trustee-Documented Trust, Sponsored Investment Entity or Owner Documented Financial Institution categories, it is required to register.

  • A trustee or trust which is a Reporting Guernsey Financial Institution can use third party service providers to undertake the reporting on their behalf but the responsibility for reporting remains with the Reporting Guernsey Financial Institution.

  • If a trust is a Reporting Guernsey Financial Institution in its own right and cannot or chooses not to utilise any of the categories to make it a Non-Reporting Guernsey Financial Institution, it is required to undertake the reporting obligations.

  • This arrangement is permitted by the Agreements, although ultimate responsibility may not be delegated and will remain with the Collective Investment Vehicle as the Reporting Financial Institution If a Collective Investment Vehicle is a Reporting Guernsey Financial Institution in accordance with section 3.3 it will be subject to reporting requirements.

  • For US Reportable Accounts, if a Collective Investment Vehicle takes advantage of the Sponsored Investment Entity Financial Institution categories, it is a Non- Reporting Guernsey Financial Institution.

  • Each Reporting Guernsey Financial Institution and any entity that is Registered Deemed Compliant or a Direct Reporting NFFE will be required to register and obtain a Global Intermediary Number ( GIIN) from the IRS.

Related to Reporting Guernsey Financial Institution

  • Reporting Financial Institution means any Member State Financial Institution or San Marino Financial Institution, as the context requires, that is not a Non-Reporting Financial Institution.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • Non-Reporting Financial Institution means any Financial Institution that is:

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

  • Licensed financial institution means a financial institution issued a license under this act.

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Affected Financial Institution means (a) any EEA Financial Institution or (b) any UK Financial Institution.

  • Financial Institutions has the meaning set forth in the preamble in this Agreement.

  • Qualified United States financial institution means an institution that:

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).

  • Participating Financial Institution means a financial institution participating in Interac e-Transfer Services, Online Payment Services, or Western Union Services, as the case may be.

  • parent mixed financial holding company in a Member State means a mixed financial holding company which is not itself a subsidiary of an institution authorised in the same Member State, or of a financial holding company or mixed financial holding company set up in that same Member State;

  • Partner Jurisdiction Financial Institution means (i) any Financial Institution established in a Partner Jurisdiction, but excluding any branch of such Financial Institution that is located outside the Partner Jurisdiction, and (ii) any branch of a Financial Institution not established in the Partner Jurisdiction, if such branch is located in the Partner Jurisdiction.

  • parent financial holding company in a Member State means a financial holding company which is not itself a subsidiary of an institution authorised in the same Member State, or of a financial holding company or mixed financial holding company set up in the same Member State;

  • Nonparticipating Financial Institution means a nonparticipating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a [FATCA Partner] Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution identified as a Nonparticipating Financial Institution pursuant to paragraph 2 of Article 5.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • National Flood Insurance Program means the program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a Federal insurance program.

  • financial holding company means a financial holding company as defined in point (20) of Article 4(1) of Regulation (EU) No 575/2013;

  • Insurance holding company system means a group of two or more affiliated persons, at least one of whom is an insurer.