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HMRC internal manual

International Exchange of Information Manual

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HM Revenue & Customs
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Non-Reporting Financial Institutions: Trustee Documented Trust

NRFI: Trustee Documented Trust

Trustee-documented trusts are Non-Reporting Financial Institutions (NRFI) for all the regimes.

A trustee-documented trust is a trust that is a financial institution [see IEIM400600] where the trustee of the trust is itself a Reporting Financial Institution [see IEIM402100] and reports all the information required in respect of the Reportable Accounts [see IEIM401520] of the trust.  In such a case, the trust itself becomes a Non-Reporting Financial Institution and the trustee Financial Institution must report the information that the trust would otherwise have reported.   The trustee must identify, when reporting, the trustee-documented trust in respect of which it fulfils the reporting and due diligence obligations.