Chapter IEIM400930

Published date25 April 2016
Record NumberIEIM400930
NRFI: Government Entity

Government entities are Non-Reporting Financial Institutions (NRFI) for both regimes.

It is a defined term in the CRS and any entity that falls within the definition is a NRFI. Government entity means the government of a jurisdiction, any political subdivision of a jurisdiction, or any wholly owned agency or instrumentality of a jurisdiction or any one or more of the foregoing (each, a “Government entity”). This category is comprised of the integral parts, controlled entities and political subdivisions of a jurisdiction.

The IGA with the USA treats UK Governmental organisations, any political subdivision of the UK Government or any wholly owned agency or instrumentality of any one or more of the foregoing as NRFI – essentially the same definition as for the CRS. The IGA then goes on to specify certain entities that are included in this definition, these being –

• The Devolved Administrations as per:

• Local Government Authorities as per:
  • Section 33 of the Local Government Act 2003

  • The Local Government Act (NI) 1972 (as amended by The Local Government...

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