Assertion: foreign financial institution | /r/HasProperty | ffi
Facets:
Source sentences:
text: The FFI List Search and Download tool is used to determine if a Foreign Financial Institution (FFI) has registered and agreed to adhere to the requirements set forth by FATCA.
text: Under FATCA, non-U.S. ('foreign') financial institutions (FFIs) are required to report asset and identify information related to suspected U.S. persons using their financial institutions.
text: FATCA also added a requirement in 26 USC §§ 1471–1474 that U.S. payors withhold taxes on payments to foreign financial institutions (FFI) and nonfinancial foreign entities (NFFE) that have not agreed to provide the IRS with information on U.S. accounts.