FAQs

No, it can be any type of entity as long as it has adequate procedures for compliance with due diligence measures and document retention.

In the case of an investment fund, although it may be common for the managing entity, as the fund's representative and pursuant to Article 5.3 of the Agreement, to be responsible for fulfilling the obligations arising from the Agreement, nothing prevents the fulfillment of the obligations from being carried out through another entity, provided that the provisions of said Article 6 are complied with. However, if the investment fund were eligible to qualify as a deemed-compliant financial institution for the purposes of being a financial institution not required to report information, both the fund and its sponsoring entity must comply with the requirements set out in this regard in Section II of Annex II of the Agreement.

Yes. The obligation of the marketer in this case is independent of whether the country where the foreign collective investment institution is established has signed or not a FATCA Agreement with the United States of America.