The following table provides a general overview of the types of entities that need to be certified and the certifications they must submit. More detailed information can be found in Section 8 of the 2017-16 Revenue Procedure, in treasury regulations or in an applicable intergovernmental agreement (IGA). Lead FI refers to a USFI, FFI or compliance IF that is at the origin of the FATCA registration process for each of its members, is a PFFI, DRCFFI or limited FFI, and is empowered to perform most aspects of its members` FATCA registrations. An FI lead is not necessary to act as a lead FI for all members of the ECAS. Therefore, an EAG may contain more than one FI lead that performs FATCA registration for a group of its members. A Lead FI obtains the online account management rights for its affiliates. However, an FFI wishing to act as a Lead FI cannot have a restricted FFI status in its country of residence. See Rev. Proc.

2014-38 PDF to verify the revision of the FFI agreement to verify other requirements of an IF Lead, which is also a participating FFI. PFFI status for the Reporting Model 2 FFI Reporting Model 2 FFIs register to obtain a GIIN, authorize the persons mentioned in the first part, line 11 of the FATCA registration, to receive information relating to the FATCA registration and to confirm that they comply with the terms of an FFI agreement in accordance with the FFI agreement as amended by each applicable Model 2 IGA. Notwithstanding the paragraph above, FfIs that operate branches outside of Model 1 or 2 countries of the IGA accept the terms of an FFI agreement for such branches, unless those branches are treated as restricted branches or are U.S. branches treated as U.S. persons. In addition, Model 2 FFIs reports that require the renewal of an IQ, WP or WT agreement will enter into THE QI, WP or WT RENOUVELed model agreements, if any. THE DRCFFI status for reporting Model 1 FFI Reporting Model 1 FFIs does not enter into FFI agreements on the FATCA registration process. Reporting Model 1 FFIs register in order to obtain a GIIN and to allow the people mentioned in the first part, line 11 of the FATCA recording, to obtain information about the FATCA registration.

Notwithstanding the above sentence, Report 1 FfIs, which operate branches outside of Model 1 or 2 IGA rights, accept the terms of an FFI agreement for these branches, unless branches are treated as limited branches. In addition, Model 1FFIs reports that require the renewal of an IQ, WP or WT agreement will conclude these renewed IQ, WP or WT model agreements, if any. DRCFFI status for FFI (with the exception of a 1 FFI report model) An FFI that registers as a DRCFFI, with the exception of a 1 FFI report model, agrees that it meets the requirements that must be met as a DRCFFI under the relevant Treasury rules as a DRCFFI, or agrees that it meets the requirements applicable as a DRCFFI under the applicable 2 IGA model. Sponsorship status A company that registers as a sponsorship company accepts compliance with due diligence,-reporting and retention of the responsibilities of one or more sponsored FFIs or sponsored NFFs. A branch of a PFFI that registers as Limited Branch confirms that it meets the conditions applicable to a limited branch. GINIs are not issued to a limited FFI or limited branch. The renewal of IQ/WP/WT An FFI, including a foreign branch of a USFI, requires the renewal of a qi agreement in order to comply with the relevant terms of the renewed qi agreement with respect to its subsidiaries, identified as IQ companies. The obligations under the Renewed Model IQ Agreement complement all obligations imposed on the FFI to be treated as PFFI, Reporting Model 2 FFI, DRCFFI or Reporting Model 1 FFI.