Income Tax Act — I-3.3 270
on means an individual other than a trust. ( personne physique ) new account means a financial account maintained by a reporting financial institution opened after June 2017. ( nouveau compte ) new entity account means a new account held by one or more entities. ( nouveau compte d’entité ) new individual account means a new account held by one or more individuals (other than trusts). ( nouveau compte de particulier ) non-financial entity or NFE means an entity if (a) in the case of an entity that is resident in Canada, it is not a Canadian financial institution; and (b) in the case of a non-resident entity, it is not a financial institution. ( entité non financière ou ENF ) non-reporting financial institution means a Canadian financial institution that is (a) the Bank of Canada; (b) a governmental entity or international organization, other than with respect to a payment that is derived from an obligation held in connection with a commercial financial activity of a type engaged in by a specified insurance company, custodial institution or depository institution; (c) a broad participation retirement fund, a narrow participation retirement fund, a pension fund of a governmental entity, international organization or central bank, or a qualified credit card issuer; (d) an exempt collective investment vehicle; (e) a trust if a trustee of the trust is a reporting financial institution and reports all information required to be reported under this Part with respect to all reportable accounts of the trust; or (f) a prescribed entity. ( institution financière non déclarante ) participating jurisdiction means (a) Canada; and (b) each jurisdiction identified as a participating jurisdiction by the Minister on the Internet website of the Canada Revenue Agency or by any other means that the Minister considers appropriate. ( juridiction partenaire ) participating jurisdiction financial institution means (a) a financial institution that is resident in a participating jurisdiction, but excludes a branch of that financial institution that is located outside a participating jurisdiction; and (b) a branch of a financial institution that is not resident in a participating jurisdiction, if that branch is located in a participating jurisdiction. ( institution financière d’une jurisdiction partenaire ) passive NFE means (a) a non-financial entity that is not an active NFE; and (b) an entity that is (i) described in paragraph (b) of the definition investment entity , and (ii) not a participating jurisdiction financial institution. ( ENF passive ) pension fund of a governmental entity, international organization or central bank means a fund that is established by a governmental entity, international organization or central bank to provide retirement, disability or death benefits to beneficiaries or participants (a) that are current or former employees (or persons designated by those employees); or (b) that are not current or former employees, if the benefits provided to them are in consideration of personal services performed for the governmental entity, international organization or central bank. ( fonds de pension désigné ) preexisting account means (a) a financial account maintained by a reporting financial institution on June 30, 2017; and (b) a financial account of an account holder (other than a financial account described in paragraph (a)) maintained by a reporting financial institution if (i) the account holder also holds with the reporting financial institution (or with a related entity within Canada) a financial account that is a preexisting account under paragraph (a), (ii) the reporting financial institution (and, as applicable, the related entity within Canada) treats both of the aforementioned financial accounts, and any other financial accounts of the account holder that are preexisting accounts under this paragraph, as a single financial account for the purposes of (A) satisfying the standards and knowledge requirements set forth under