SECTION 2. DEFINITIONS

For purposes of this Agreement, the terms listed below are defined as follows:

Sec. 2.01. Account. “Account” or “Financial Account” has the meaning given to that term in § 1.1471–1(b) with respect to QI’s obligations for chapter 4 purposes and otherwise means any account for which QI acts as a qualified intermediary.

Sec. 2.02. Account Holder. If QI is an FFI, an “account holder” means any person that is a direct account holder or an indirect account holder of an account that QI has designated to its withholding agent as an account for which it is acting as a qualified intermediary and also includes any person that receives a payment of a U.S. source substitute dividend from QI that is a qualified securities lender acting as a dealer or intermediary for the payment. If QI is an NFFE acting on behalf of its shareholders, an “account holder” means each owner for whom QI is acting with respect to an amount subject to chapter 3 withholding and, with respect to a withholdable payment, any direct or indirect owner of QI that is a substantial U.S. owner. If QI is an NFFE acting as a qualified intermediary on behalf of persons other than its shareholders, an “account holder” means any person for whom QI is acting with respect to a reportable payment.

(A) Direct Account Holder. A direct account holder is any person who has an account or ownership interest directly with or in QI, or, in the case of an NFFE acting as a qualified intermediary on behalf of persons other than its shareholders, any person for whom QI is acting with respect to a reportable payment regardless of whether such person is the beneficial owner.

(B) Indirect Account Holder. An indirect account holder is any person who receives amounts from QI but who does not have a direct relationship with QI. For example, a person that holds an account with a foreign intermediary or an interest in a flow-through entity which, in turn, has a direct relationship with QI is an indirect account holder. A person is an indirect account holder even if there are multiple tiers of intermediaries or flowthrough entities between the person and QI. For chapter 4 purposes, if QI is an

NFFE, an indirect account holder includes any person treated as a substantial U.S. owner under § 1.1473–1(b).

Sec. 2.03. Agreement. “Agreement” means this Agreement, all appendices and attachments to this Agreement, and QI’s application to become a qualified intermediary. All such appendices, attachments, and QI’s application are incorporated into this Agreement by reference.

Sec. 2.04. Amount Subject to Chap- ter 3 Withholding. An “amount subject to chapter 3 withholding” is an amount described in § 1.1441–2(a) regardless of whether such amount is withheld upon. An amount subject to chapter 3 withholding shall not include interest paid as part of the purchase price of an obligation sold between interest payment dates or original issue discount paid as part of the purchase price of an obligation sold in a transaction other than the redemption of such obligation, unless the sale is part of a plan the principal purpose of which is to avoid tax and QI has actual knowledge or reason to know of such plan.

Sec. 2.05 . Amount Subject to Chap- ter 4 Withholding. An “amount subject to chapter 4 withholding” is an amount that is a withhholdable payment (as defined in section 2.91 of this Agreement) for which withholding is required under chapter 4 or an amount for which withholding was otherwise applied under chapter 4.

Sec. 2.06. Assumption of Withhold- ing Responsibility. A QI that assumes primary chapters 3 and 4 withholding responsibility with respect to payments of U.S. source FDAP income, or assumes primary Form 1099 reporting and backup withholding responsibility, assumes the primary responsibility for deducting, withholding, and depositing the appropriate amount from a payment. Generally, QI’s assumption of primary chapters 3 and 4 withholding responsibility or the assumption of primary backup withholding responsibility relieves the person who makes a payment to QI from the responsibility to withhold. Under section 3.05 of this Agreement, QI generally has primary Form 1099 reporting and backup withholding responsibility with respect to certain payments even though it does not assume such responsibility for payments not described in that section.

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Sec. 2.07. Backup Withholding. “Backup withholding” means the withholding required under section 3406.

Sec. 2.08. Beneficial Owner. A “beneficial owner” has the meaning given to that term in § 1.1441–1(c)(6).

Sec. 2.09. Broker Proceeds. “Broker proceeds” means gross proceeds (as defined in § 1.6045–1(d)(5)) from a sale that is reportable under § 1.6045–1(c).

Sec. 2.10. Chapter 3. Any reference to “chapter 3” means sections 1441, 1442, 1443, 1461, 1463, and 1464. Sec. 2.11. Chapter 3 Reporting Pool. A chapter 3 reporting pool means a reporting pool described in section 8.03(B) of this Agreement.

Sec. 2.12. Chapter 4. Any reference to “chapter 4” means sections 1471, 1472, 1473, and 1474. Sec. 2.13. Chapter 4 Reporting Pool. A chapter 4 reporting pool means a reporting pool described in section 8.03(A) of this Agreement.

Sec. 2.14. Chapter 4 Status. “Chapter 4 status” means the status of a person as a U.S. person, a specified U.S. person, an individual that is a foreign person, a participating FFI, a deemed-compliant FFI, a restricted distributor, an exempt beneficial owner, a nonparticipating FFI, a territory financial institution, an excepted NFFE, or a passive NFFE.

Sec. 2.15. Chapter 4 Withholding Statement. A “chapter 4 withholding statement” is a withholding statement that contains the name, address, foreign TIN or U.S. TIN (if any), entity type, and chapter 4 status of each payee; the amount allocated to each payee; a valid withholding certificate or other appropriate documentation sufficient to establish the chapter 4 status of each payee and each intermediary or flow-through entity that receives the payment on behalf of the payee; and any other information the withholding agent reasonably requests to fulfill its obligations under chapter 4. A chapter 4 withholding statement is permitted to provide pooled allocation information with respect to payees that are treated as nonparticipating FFIs.

Sec. 2.16. Chapter 61. Any reference to “chapter 61” means sections 6041, 6042, 6045, 6049, and 6050N. Sec. 2.17. Deemed-Compliant FFI. “Deemed-compliant FFI” means an FFI

that is treated, pursuant to section 1471(b)(2) and § 1.1471–5(f), as meeting the requirements of section 1471(b).

(A) Certified Deemed-Compliant FFI. “Certified deemed-compliant FFI” means an FFI described in § 1.1471– 5(f)(2) and includes a nonreporting IGA FFI, but excludes a nonreporting Model 2 FFI that is treated as registered deemedcompliant.

(B) Registered Deemed-Compliant FFI. “Registered deemed-compliant” FFI means an FFI described in § 1.1471– 5(f)(1) and includes a reporting Model 1 FFI and a nonreporting Model 2 FFI that is treated as registered deemed-compliant. For purposes of this Agreement, a reference to a registered deemed-compliant FFI that is providing a chapter 4 withholding rate pool of U.S. payees includes a registered deemed-compliant Model 1 IGA FFI.

(C) Registered Deemed-Compliant Model 1 IGA FFI. “Registered deemedcompliant Model 1 IGA FFI” means an FFI treated as a deemed-compliant FFI under an applicable Model 1 IGA that is subject to similar due diligence and reporting requirements with respect to U.S. accounts as those applicable to a registered deemed-compliant FFI under § 1.1471–5(f)(1).

Sec. 2.18. Deposit Interest. “Deposit interest” means interest described in section 871(i)(2)(A).

Sec. 2.19. Documentary Evidence. “Documentary evidence” means any documentation obtained under the appropriate know-your-customer rules (as described in the Attachments to this Agreement), any documentary evidence described in § 1.1441–6 sufficient to establish entitlement to a reduced rate of withholding under an income tax treaty, or any documentary evidence described in § 1.6049– 5(c) sufficient to establish an account holder’s status as a foreign person for purposes of chapter 61. Documentary evidence does not include a Form W–8 or Form W–9 (or an acceptable substitute Form W–8 or Form W–9).

Sec. 2.20. Documentation. “Documentation” means any valid Form W–8, Form W–9 (or an acceptable substitute Form W–8 or Form W–9), or documentary evidence as defined in section 2.19 of this Agreement, including all statements

or other information required to be associated with the form or documentary evidence.

Sec. 2.21. Documented Account Holder. A “documented account holder” is an account holder for whom QI holds valid documentation.

Sec. 2.22. Effective Date of the QI Agreement. For an FFI (other than a limited FFI) or an NFFE that is a direct reporting NFFE or a sponsoring entity, the effective date of the QI agreement is the later of the date on which the IRS issues a QI-EIN to the QI or the date on which the IRS issues a GIIN to the QI. For NFFEs not described in the previous sentence, the effective date of the QI agreement is the date provided in the approval notice from the IRS. For QIs that receive a GIIN prior to June 30, 2014, the effective date of the QI agreement is June 30, 2014. For limited FFIs, the effective date of the QI agreement is the date the FFI completes its registration on the FATCA registration website.

Sec. 2.23. Excepted NFFE. “Excepted NFFE” means a person described in § 1.1471–1(b)(41).

Sec. 2.24. Exempt Beneficial Owner. “Exempt beneficial owner” means a person described in § 1.1471–1(b)(42) and includes any person that is treated as an exempt beneficial owner under an applicable Model 1 or Model 2 IGA.

Sec. 2.25. Exempt Recipient. For purposes of Form 1099 reporting and backup withholding, an “exempt recipient” means a person described in § 1.6049–4(c)(1)(ii) (for interest, dividends, and royalties), a person described in § 1.6045–2(b)(2)(i) (for broker proceeds), and a person described in § 1.6041–3(q) (for rents, amounts paid on notional principal contracts, and other fixed or determinable income). Exempt recipients are not exempt from chapter 3 or 4 withholding.

Sec. 2.26. FATCA Requirements as a Participating FFI, Registered Deemed- Compliant FFI, Registered Deemed- Compliant Model 1 IGA FFI, or Lim- ited FFI. “FATCA requirements as a participating FFI, registered deemedcompliant FFI, registered deemedcompliant Model 1 IGA FFI, or limited FFI” means—

(A) For a participating FFI or an FFI that agrees to be treated as a participating

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FFI, the requirements set forth in the FFI agreement;

(B) For a limited FFI, the requirements under § 1.1471–4(e)(4);

(C) For a registered deemed-compliant FFI (other than a reporting Model 1 FFI) or an FFI that agrees to be treated as a registered deemed-compliant FFI, the requirements under § 1.1471–5(f)(1) or an applicable Model 2 IGA; or

(D) For a registered deemed-compliant Model 1 IGA FFI, reporting Model 1 FFI, or an FFI that agrees to be treated as a registered deemed-compliant Model 1 IGA FFI or reporting Model 1 FFI, the requirements under an applicable Model 1 IGA.

Sec. 2.27. Financial Institution (FI). “Financial institution” or “FI” means an entity described in § 1.1471–5(d) and includes a financial institution as defined under an applicable Model 1 or Model 2 IGA.

Sec. 2.28. FFI Agreement. “FFI Agreement” means an agreement described in § 1.1471–4(a) and provided in Revenue Procedure 2014–3, 2014–3 I.R.B. 419, as revised by Revenue Procedure 2014–38 (and any superseding revenue procedure).

Sec. 2.29. Foreign Financial Institu- tion (FFI). “Foreign Financial Institution” or “FFI” means a foreign entity (as defined in § 1.1473–1(e)) that is a financial institution.

Sec. 2.30. FFI Withholding Statement. An “FFI withholding statement” means a withholding statement provided by an FFI that meets the requirements of § 1.1471– 3(c)(3)(iii)(B)( 1 ) and ( 2 ). Sec. 2.31. Flow-Through Entity. A flow-through entity is a foreign partnership described in § 301.7701–2 or 3 (other than a withholding foreign partnership), a foreign trust (other than a withholding foreign trust) that is described in section 651(a), or a foreign trust if all or a portion of such trust is treated as owned by the grantor or other person under sections 671 through 679. For an item of income for which a treaty benefit is claimed, an entity is also a flow-through entity to the extent it is treated as fiscally transparent under section 894 and the regulations thereunder.

Sec. 2.32. Foreign Person. A “foreign person” is any person that is not a “United

States person” and includes a “nonresident alien individual,” a “foreign corporation,” a “foreign partnership,” a “foreign trust,” and a “foreign estate,” as those terms are defined in section 7701. For purposes of chapters 3 and 4, the term foreign person also means, with respect to a payment by a withholding agent (including a qualified intermediary), a foreign branch (including a foreign disregarded entity) of a U.S. person that provides a valid Form W–8IMY on which it represents that it is a qualified intermediary or does not agree to be treated as a U.S. person. A foreign branch of a U.S. person that is a qualified intermediary is, however, a U.S. payor for purposes of chapter 61 and section 3406. Sec. 2.33. Foreign TIN. A “foreign TIN” is a taxpayer identification number issued by a foreign person’s country of residence.

Sec. 2.34. Form W–8. “Form W–8” means IRS Form W–8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (Individuals); IRS Form W–8BEN–E, Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities); IRS Form W–8ECI, Certificate of Foreign Person’s Claim That Income is Effectively Connected With the Conduct of a Trade or Business in the United States; IRS Form W–8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting; and IRS Form W–8IMY, Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting, as appropriate. It also includes any acceptable substitute form.

Sec. 2.35. Form W–9. “Form W–9” means IRS Form W–9, Request for Taxpayer Identification Number and Certification, or any acceptable substitute.

Sec. 2.36. Form 945. “Form 945” means IRS Form 945, Annual Return of Withheld Federal Income Tax.

Sec. 2.37. Form 1042. “Form 1042” means IRS Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons.

Sec. 2.38. Form 1042–S. “Form 1042–S” means IRS Form 1042–S, For

eign Person’s U.S. Source Income Subject to Withholding.

Sec. 2.39. Form 1096. “Form 1096” means IRS Form 1096, Annual Summary and Transmittal of U.S. Information Returns.

Sec. 2.40. Form 1099. “Form 1099” means IRS Form 1099–B, Proceeds From Broker and Barter Exchange Transactions; IRS Form 1099–DIV, Dividends and Distributions; IRS Form 1099–INT, Interest Income; IRS Form 1099–MISC, Miscellaneous Income; IRS Form 1099– OID, Original Issue Discount; and any other form in the IRS Form 1099 series appropriate to the type of payment required to be reported.

Sec. 2.41. Form 8966. “Form 8966” means IRS Form 8966, FATCA Report.

Sec. 2.42. Form 1099 Reporting. “Form 1099 reporting” means the reporting required on Form 1099.

Sec. 2.43. Global Intermediary Iden- tification Number (GIIN) . “Global intermediary identification number” or “GIIN” means the identification number that is as assigned to a participating FFI, registered deemed-compliant FFI, direct reporting NFFE, or sponsoring entity of a direct reporting NFFE. The term also includes the identification number assigned to a reporting Model 1 FFI or registered deemed-compliant Model 1 IGA FFI that is a QI for the purpose of identifying itself to withholding agents.

Sec. 2.44. Intermediary. An “intermediary” means any person that acts on behalf of another person such as a custodian, broker, nominee, or other agent or a person that acts as a qualified securities lender with respect to a payment of a substitute dividend.

Sec. 2.45. Know-Your-Customer Rules. The phrase “know-your-customer rules” refers to the applicable laws, regulations, rules, and administrative practices and procedures, identified in the Attachments to this Agreement, governing the requirements of QI to obtain documentation confirming the identity of QI’s account holders for QI designated accounts.

Sec. 2.46. Limited Branch . A “limited branch” means a branch of a participating FFI or reporting Model 2 FFI described in § 1.1471–1(b)(76). A “limited branch” also means, with respect to a reporting Model 1 FFI, a branch of the reporting

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Model 1 FFI that operates in a jurisdiction that prevents such branch from fulfilling the requirements of a participating FFI or deemed-compliant FFI for purposes of section 1471, or a branch that is treated as a nonparticipating FFI solely due to the expiration of the transitional rule for limited branches under § 1.1471–4(e)(2)(v), and which branch (and reporting Model 1 FFI) meets any additional requirements for such branch as provided in the applicable Model 1 IGA.

Sec. 2.47. Limited FFI. A “limited FFI” means an FFI described in § 1.1471– 1(b)(77). A “limited FFI” also means, with respect to a reporting Model 1 FFI, a related entity (as defined in the applicable Model 1 IGA) of the reporting Model 1 FFI that operates in a jurisdiction that prevents such related entity from fulfilling the requirements of a participating FFI or deemed-compliant FFI for purposes of section 1471, or a related entity that is treated as a nonparticipating FFI solely due to the expiration of the transitional rule for limited FFIs under § 1.1471– 4(e)(3)(iv), and which related entity (and reporting Model 1 FFI) meets any additional requirements for such related entities as provided in the applicable Model 1 IGA.

Sec. 2.48. Marketable Securities. For purposes of this Agreement, the term “marketable securities” means those securities described in § 1.1441–6 for which a U.S. TIN (or foreign TIN) is not required to obtain treaty benefits.

Sec. 2.49. Non-Consenting U.S. Ac- count . For purposes of a reporting Model 2 FFI, “non-consenting U.S. account” has the meaning that such term has under an applicable Model 2 IGA.

Sec. 2.50. Non-Exempt Recipient. A “non-exempt recipient” means a person that is not an exempt recipient under the definition in section 2.25 of this Agreement.

Sec. 2.51. Non-Financial Foreign En- tity (NFFE). A “non-financial foreign entity” or “NFFE” means a foreign entity that is not a financial institution (including an entity that is incorporated or organized under the laws of any U.S. territory and that is not a financial institution). The term also means a foreign entity treated as an NFFE pursuant to a Model 1 or Model 2 IGA.

Sec. 2.52. Nonparticipating FFI. A “nonparticipating FFI” means an FFI other than a participating FFI, a deemedcompliant FFI, or an exempt beneficial owner.

Sec. 2.53. Nonqualified Intermedi- ary. A “nonqualified intermediary” is any intermediary that is not a qualified intermediary. A nonqualified intermediary includes any intermediary that is a foreign person unless such person enters an agreement to be a qualified intermediary and acts in such capacity. A nonqualified intermediary also includes an intermediary that is a territory FI (as defined section 2.78 of this Agreement) unless such institution agrees to be treated as a U.S. person.

Sec. 2.54. Non-U.S. Payor. A “nonU.S. payor” means a payor other than a U.S. payor as defined in this section 2.83 of this Agreement.

Sec. 2.55. Nonwithholding Foreign Partnership. A “nonwithholding foreign partnership” means a foreign partnership other than a withholding foreign partnership as defined in § 1.1441–5(c)(2)(i).

Sec. 2.56. Nonwithholding Foreign Trust. A “nonwithholding foreign trust” means a foreign trust (as defined in section 7701(a)(31)(B)) that is a foreign simple trust or a foreign grantor trust and that is not a withholding foreign trust.

Sec. 2.57. Overwithholding. The term “overwithholding” means any amount actually withheld (determined before application of the adjustment procedures described in section 9 of this Agreement) from an item of income or other payment that is in excess of the amount required to be withheld under chapter 4 with respect to such item of income or other payment, if applicable, and, in the case of an amount subject to chapter 3 withholding, the actual tax liability of the beneficial owner of the income or payment to which the withheld amount is attributable, regardless of whether such overwithholding was in error or appeared correct at the time it occurred. For purposes of section 3406, the term “overwithholding” means the excess of the amount actually withheld under section 3406 over the amount required to be withheld.

Sec. 2.58. Participating FFI. A “participating FFI” means an FFI that has agreed to comply with the requirements of

an FFI Agreement, including an FFI described in a Model 2 IGA that has agreed to comply with the requirements of an FFI Agreement (reporting Model 2 FFI). The term participating FFI also includes a QI branch of a U.S. financial institution, unless such branch is a reporting Model 1 FFI.

Sec. 2.59. Payee . For chapter 4 purposes , a “payee” means a person described in § 1.1471–3(a). For purposes of chapter 61, a “payee” means the person to whom a payment is made. For purposes of chapter 3, a “payee” means a person described in § 1.1441–1(c)(12).

Sec. 2.60. Payment. A “payment” is considered made to a person if that person realizes income, whether or not such income results from an actual transfer of cash or other property. See § 1.1441–2(e). For example, a payment includes crediting an amount to an account.

Sec. 2.61. Payor. A “payor” is defined in § 31.3406(a)–2 and § 1.6049–4(a)(2) and generally means any person required to make an information return under chapter 61. The term includes any person that makes a payment, directly or indirectly, to QI and to whom QI provides information, pursuant to this Agreement, so that such person can report a payment on Form 1099 and, if appropriate, backup withhold. See sections 3.05 and 3.06 of this Agreement. Also see sections 2.83 and 2.54 of this Agreement for the definition of U.S. payor and non-U.S. payor.

Sec. 2.62. Permanent Residence Ad- dress. A “permanent residence address” means an address described in § 1.1441– 1(c)(38). Sec. 2.63. Presume/Presumption. The terms “presume” and “presumption” refer to the presumption rules set forth in section 5.13(C) of this Agreement.

Sec. 2.64. Private Arrangement In- termediary (PAI). A “private arrangement intermediary” or “PAI” is an intermediary described in section 4 of this Agreement.

Sec. 2.65. Qualified Intermediary. A “qualified intermediary” is a person, described in § 1.1441–1(e)(5)(ii), that enters into an agreement with the IRS to be treated as a qualified intermediary and acts in its capacity as a qualified intermediary.

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Sec. 2.66. QI Designated Account. A “QI designated account” means an account that QI has designated as an account for which it is acting as a qualified intermediary.

Sec. 2.67. Qualified Intermediary (QI) EIN. A “qualified intermediary EIN” or “QI-EIN” means the employer identification number assigned by the IRS to a qualified intermediary. QI’s QI-EIN is only to be used when QI is acting in its capacity as a qualified intermediary. For example, QI must give a withholding agent its non-QI EIN, if any, rather than its QI-EIN, if it is receiving income as a beneficial owner and a taxpayer identification number is required. QI must also use its non-QI EIN, if any, when acting as a nonqualified intermediary. Each signatory to this Agreement must have its own QI-EIN (to the extent referenced in this section 2.67).

Sec. 2.68. Qualified Securities Lender (QSL). A “qualified securities lender” or “QSL” is a person described in Notice 2010–46, 2010–1 C.B. 757, or subsequent published guidance defining this term. In the case of a QI that acts as a qualified securities lender with respect to a payment of substitute dividends (as defined in section 871(m) and the regulations thereunder), such QI is required to act as a QSL for all U.S source substitute dividends received by the QI when acting as an intermediary or dealer with respect to securities lending and similar transactions.

Sec. 2.69. Recalcitrant Account Holder. A “recalcitrant account holder” means an account holder described in § 1.1471–5(g).

Sec. 2.70. Reduced Rate of With- holding. A “reduced rate of withholding” means a rate of withholding under chapter 3 that is less than 30 percent, including an exemption from withholding.

Sec. 2.71. Reliably Associating a Pay- ment With Documentation. See section 5.13(B) of this Agreement to determine whether QI can reliably associate a payment with documentation.

Sec. 2.72. Reportable Amount. A “reportable amount” means U.S. source FDAP income that is an amount subject to chapter 3 withholding (as defined in section 2.04 of this Agreement), U.S. source deposit interest (as defined in section 2.18

of this Agreement), and U.S. source interest or original issue discount paid on the redemption of short-term obligations (as defined in section 2.77 of this Agreement). The term does not include payments on deposits with banks and other financial institutions that remain on deposit for two weeks or less. It also does not include amounts of original issue discount arising from a sale and repurchase transaction completed within a period of two weeks or less, or amounts described in § 1.6049–5(b)(7), (10), or (11) (relating to certain foreign targeted registered obligations and certain obligations issued in bearer form).

Sec. 2.73. Reportable Payment. For purposes of this Agreement, a “reportable payment” means an amount described in section 2.73(A) of this Agreement, in the case of a U.S. payor, and an amount described in section 2.73(B) of this Agreement, in the case of a non-U.S. payor.

(A) U.S. Payor. If QI is a U.S. payor, a “reportable payment” means, unless an exception to reporting applies under chapter 61,—

(1) Any reportable amount; (2) Any broker proceeds from a sale reportable under § 1.6045–1(c); and

(3) Any foreign source interest, dividends, rents, royalties, or other fixed and determinable income.

(B) Non-U.S. Payor. If QI is a nonU.S. payor, a “reportable payment” means, unless an exception to reporting applies under chapter 61,—

(1) Any reportable amount; (2) Any broker proceeds from a sale effected at an office inside the United States, as defined in § 1.6045–1(g)(3)(iii); and

(3) Any foreign source interest, dividends, rents, royalties, or other fixed and determinable income if such income is not paid outside the United States as described under section 5.13(C)(1) of this Agreement.

Sec. 2.74. Reporting Model 1 FFI. A “reporting Model 1 FFI” means an FFI with respect to which a foreign government or agency thereof agrees to obtain and exchange information pursuant to a Model 1 IGA, other than an FFI that is treated as a nonreporting FFI under the Model 1 IGA.

Sec. 2.75. Reporting Pool. A “reporting pool” is defined in section 8 of this Agreement.

Sec. 2.76. Responsible Officer . A “responsible officer” of a QI means an officer of the QI with sufficient authority to fulfill the duties of a responsible officer as described in section 10 of this Agreement, including the requirements to periodically certify and to respond to requests by the IRS for additional information to review the QI’s compliance (or that of a PAI).

Sec. 2.77. Short-Term Obligation. A “short-term obligation” is any obligation described in section 871(g)(1)(B)(i).

Sec. 2.78. Territory FI. A “territory FI” means a financial institution that is incorporated or organized under the laws of any U.S. territory, excluding a territory entity that is an investment entity but is not a depository institution, custodial institution, or specified insurance company (as defined in §.1471–5(e)(1)(i), (ii), and (iv), respectively).

Sec. 2.79. Underwithholding. “Underwithholding” means the excess of the amount required to be withheld under chapter 3 or 4 or section 3406 over the amount actually withheld.

Sec. 2.80. Undocumented Account Holder. An “undocumented account holder” is an account holder for whom QI does not hold valid documentation.

Sec. 2.81. U.S. Account. A “U.S. account” is any financial account maintained by an FFI that is held by one or more specified U.S. persons or U.S.-owned foreign entities that such FFI reports or elects to report under the FFI Agreement or § 1.1471–5(f), as applicable.

Sec. 2.82. U.S. Branch Treated as a U.S. Person. A “U.S. branch treated as a U.S. person” means a U.S. branch of a participating FFI, registered deemedcompliant FFI, or NFFE that is treated as a U.S. person under § 1.1441– 1(b)(2)(iv)(A). Sec. 2.83. U.S. Payor. The term “U.S. payor” has the same meaning as in § 1.6049–5(c)(5).

Sec. 2.84. U.S. Person. A “U.S. person” (or “United States person”) is a person described in section 7701(a)(30), the U.S. government (including an agency or instrumentality thereof), a State of the United States (including an agency or instrumentality thereof), or the District of

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Columbia (including an agency or instrumentality thereof). The term “U.S. person” or “United States person” also means a foreign insurance company that has made an election under section 953(d), provided that either the foreign insurance company is not a specified insurance company (as described in § 1.1471– 5(e)(1)(iv)) and is not licensed to do business in any State, or the foreign insurance company is a specified insurance company and is licensed to do business in any State.

Sec. 2.85. U.S. Reportable Account. A “U.S. reportable account” means a financial account maintained by a reporting Model 1 FFI or registered deemedcompliant Model 1 IGA FFI that such FFI reports or elects to report under the applicable domestic law for compliance with and implementation of FATCA.

Sec. 2.86. U.S. Source FDAP. “U.S. source FDAP” means amounts from sources within the United States that constitute fixed or determinable annual or periodical income, as defined in § 1.1441– 2(b)(1). Sec. 2.87. U.S. TIN. A “U.S. TIN” means a U.S. taxpayer identification number assigned under section 6109.

Sec. 2.88. Withholding Agent. A “withholding agent” has the same meaning as set forth in § 1.1441–7(a) for purposes of chapter 3 and as set forth in § 1.1473–1(d) for purposes of chapter 4, and includes a payor (as defined in section 2.61 of this Agreement). As used in this Agreement, the term generally refers to the person making a payment to a qualified intermediary.

Sec. 2.89. Withholding Foreign Part- nership. A “withholding foreign partnership” or “WP” means a partnership, described in § 1.1441–5(c)(2), that has entered into a withholding agreement with the IRS to be treated as a withholding foreign partnership.

Sec. 2.90. Withholding Foreign Trust. A “withholding foreign trust” or “WT” means a trust, described in § 1.1441–5(e)(5)(v), that has entered into a withholding agreement with the IRS to be treated as a withholding foreign trust.

Sec. 2.91. Withholdable Payment. A “withholdable payment” means an amount described in § 1.1473–1(a).

Sec. 2.92. Withholding Rate Pool. A “withholding rate pool” is defined in section 6.03 of this Agreement and includes a chapter 3 withholding rate pool and a chapter 4 withholding rate pool.

Sec. 2.93. Withholding Statement. The term “withholding statement” is defined in section 6.02 of this Agreement.

Sec. 2.94. Other Terms. Any term not defined in this section has the same meaning that it has under the Code, including the income tax regulations under the Code, any applicable income tax treaty, or any applicable Model 1 or Model 2 IGA with respect to a QI’s FATCA requirements as a participating FFI, registered deemed-compliant FFI, registered deemed-compliant Model 1 IGA FFI, or limited FFI.