Sponsored - Rapporterend
closely held - gemeenschappelijk
investment vehicle - beleggingsfonds.

Hieronder staat de uitleg. Rapporterend ligt idd niet voor de hand voor sponsored...


20. What are “sponsored investment entities” and “sponsoring investment entities?”
The final regulations, as modified by the technical corrections, include a new category of deemed-compliant investment fund, a “sponsored investment entity,” whereby a “spon- soring entity” undertakes the FATCA obligations on its behalf. The regulations identify three types of sponsored entities:
■■ Sponsored investment entity
■ An FFI meets the requirements of a sponsored investment entity if:
— It is an investment entity but not a qualified intermediary (QI), withholding partnership (WP) or withholding trust (WT); and
— An entity has agreed to act as a sponsoring entity for the fund. ■■ Sponsored controlled foreign corporation (CFC)
■ A CFC can qualify as a sponsored CFC if:
— It is wholly owned, directly or indirectly, by a U.S. financial entity that agrees to act as a sponsoring entity for the FFI; and
— The FFI shares a common electronic account system with the sponsoring entity that enables the sponsoring entity to identify all account holders and payees of the FFI and to access all account and customer information maintained by the FFI including, but not limited to, customer identification information, customer documentation, account balance, and all payments made to the account holder
or payee.
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■■ Sponsored closely held investment vehicle
■ The final regulations also add a category of a sponsored, closely held investment
vehicle which:
— Meets the requirements for a sponsored investment entity set forth above; and — Does not hold itself out as an investment vehicle for unrelated parties;
— 20 or fewer individuals own all of the debt and equity interests in the FFI.
A “sponsoring entity” must:
■■ Be authorized to act on behalf of the FFI (such as a fund manager, trustee, corporate
director, or managing partner) to fulfill the requirements of the FFI agreement;
■■ Have registered with the IRS as a sponsoring entity;
■■ Have registered the FFI with the IRS by the later of January 1, 2016, or the date that the
FFI identifies itself as qualifying as a sponsored entity;
■■ Agree to perform, on behalf of the FFI, all due diligence, withholding, reporting, and
the requirements that the FFI would have been required to perform if it were a
participating FFI;
■■ Identify the sponsored fund in all reporting completed on the FFI’s behalf to the
extent required; and
■■ Have not had its status as a sponsor revoked.