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HMRC internal manual

International Exchange of Information Manual

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HM Revenue & Customs
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Financial Institutions: Non-Reporting Financial Institutions: CDOT Only: CDOT Credit Unions

Financial Institutions: Non-Reporting Financial Institutions: CDOT Only: CDOT Credit Unions

Non-Registering Local Banks are treated as Non-Reporting Financial Institutions for FATCA purposes but with the exception of credit unions are Reporting Financial Institutions for CDOT purposes.

Credit unions are Non-Reporting Financial Institutions for CDOT reporting.  They will have no due diligence or reporting obligations.

A credit union is a body corporate registered under any of the following:

  • The Industrial and Provident Societies Act 1965 as a credit union in accordance with the Credit Unions Act
  • The Credit Unions (Northern Ireland) Order 1985
  • The Industrial and Provident Societies Act (Northern Ireland) 1969 as a credit union.