IEIM401170 - NRFI: FATCA Only: Low Value Banks
NRFI: FATCA Only: Low Value Banks
Financial Institutions with only low value accounts can be treated as Non-Reporting Financial Institutions by virtue of the US regulations at §1471-5-(f)(2)(ii).
To qualify as a Non-Reporting Financial Institution by virtue of having only low value accounts the Financial Institution must not:
바카라 사이트¢ be an Investment Entity,
바카라 사이트¢ have any financial accounts exceeding $50,000,
바카라 사이트¢ have more than $50 million in assets on its balance sheet at the end of its most recent accounting year, and
바카라 사이트¢ have more than $50 million in assets on its consolidated or combined balance sheet where it is in a group with Related Entities.