IEIM400940 - Non-Reporting Financial Institutions: International Organisations

NRFI: International Organisations

International organisations are Non-Reporting Financial Institutions (NRFI) for both regimes.

It is a defined term in the CRS and any entity that falls within the definition is a NRFI. International organisation means any international organisation or wholly owned agency or instrumentality thereof. This category includes any intergovernmental organisation (including a supranational organisation):

  1. That is comprised primarily of governments;
  2. That has in effect a headquarters or substantially similar agreement with the UK; and
  3. The income of which does not inure to the benefit of private persons.

The IGA with the USA defines these by reference to an exhaustive list which comprises any UK office of:

• The International Monetary Fund

• The World Bank

• The International Bank for Reconstruction and Development

• The International Finance Corporation

• The International Finance Corporation Order, 1955 (SI 1955 No.1954)

• The International Development Association

• The Asian Development Bank

• The African Development Bank

• The European Community

• The European Coal and Steel Community

• The European Atomic Energy Community

• The European Investment Bank

• The European Bank for Reconstruction and Development

• The OECD Support Fund

• The Inter-American Development Bank

If any International organisation with a UK office is identified that meets the CRS definition, but which is not included in the IGA list, you should contact the BAI Exchange of Information policy team with responsibility for automatic exchange agreements.