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Direct Reporting NFFE

Definition:

A direct reporting NFFE means a NFFE that elects to report information about its direct or indirect substantial U.S. owners to the IRS and meets the following requirements: (i) The NFFE must register on Form 8957, “FATCA Registration,” with the IRS to obtain a GIIN pursuant to the procedures prescribed by the IRS; (ii) The NFFE must report directly to the IRS on Form 8966, “FATCA Report,” (ii) The NFFE must report directly to the IRS on Form 8966, “FATCA Report,” See Page 214