MLchartDataset catalogue

Nonfinancial foreign entity (NFFE)

Term · Insurance and risk management · MLC-T-INS-002336

A foreign entity that does not qualify as a foreign financial institution under specific U.S. tax regulations. This classification is used for the Foreign Account Tax Compliance Act (FATCA) to identify entities that are not banks, custodians, investment entities, or specified insurance companies. NFFEs must certify their status to withholding agents and may have to report their substantial U.S. owners or face a 30% withholding tax on certain U.S. source payments.

Table 1. Record
IdentifierMLC-T-INS-002336
FieldInsurance and risk management
AbbreviationNFFE
Record as JSON 
{
  "id": "MLC-T-INS-002336",
  "term": "Nonfinancial foreign entity (NFFE)",
  "field": "Insurance and risk management",
  "definition": "A foreign entity that does not qualify as a foreign financial institution under specific U.S. tax regulations. This classification is used for the Foreign Account Tax Compliance Act (FATCA) to identify entities that are not banks, custodians, investment entities, or specified insurance companies. NFFEs must certify their status to withholding agents and may have to report their substantial U.S. owners or face a 30% withholding tax on certain U.S. source payments.",
  "abbreviation": "NFFE",
  "url": "https://mlchart.com/terminology/insurance/nonfinancial-foreign-entity-nffe/"
}

Record 2,333 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.