Your client will have a GIIN if they are:
- a Financial Institution in a Model 1 or Model 2 IGA country (tick box 3.1).
- a Participating Financial Institution in a non-IGA country (tick box 3.2) – this is where a financial institution in a non-IGA country has entered into an agreement with the US IRS to comply with the FATCA Regulations.
- a Registered Deemed compliant Financial Institution (tick box 3.3) – this is a Financial Institution that has registered in accordance with the FATCA regulations to declare its status.
However, if any of those options have been ticked and the entity does not have a GIIN, you may need to consider whether the correct Financial Institution type has been ticked on the form. It may be possible that they are in the process of applying for a GIIN, which can be done through the IRS website, the GIIN should be added to the Tax Declaration before it is sent to us.
A GIIN won’t be needed where your clients have selected 3.4, 3.5 or 3.6.