Bank of Maharashtra To be filled only in case of Financial Institution. (Annexure-1) Archives - Tax Heal https://www.taxheal.com/tag/bank-of-maharashtra-to-be-filled-only-in-case-of-financial-institution-annexure-1 Complete Guide for Income Tax and GST in India Mon, 08 Jun 2026 08:05:17 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 Bank of Maharashtra To be filled only in case of Financial Institution. (Annexure-1) from Download https://www.taxheal.com/bank-of-maharashtra-to-be-filled-only-in-case-of-financial-institution-annexure-1-from-download.html Mon, 08 Jun 2026 08:05:17 +0000 https://www.taxheal.com/?p=133053 Bank of Maharashtra To be filled only in case of Financial Institution. (Annexure-1) Bank of Maharashtra To be filled only in case of Financial Institution. (Annexure-1) from Download The Bank of Maharashtra Annexure-1 Form is a specialized statutory declaration required strictly for corporate entities operating as Financial Institutions (FIs) (d9cce147-7… p. 1). It ensures structural… Read More »

]]> Bank of Maharashtra To be filled only in case of Financial Institution. (Annexure-1)

Bank of Maharashtra To be filled only in case of Financial Institution. (Annexure-1) from Download

The Bank of Maharashtra Annexure-1 Form is a specialized statutory declaration required strictly for corporate entities operating as Financial Institutions (FIs) (d9cce147-7… p. 1). It ensures structural compliance under global tax reporting laws (FATCA/CRS) as integrated into the Income Tax Rules, 1962 and RBI circulars (d9cce147-7… p. 1).

🏛 Classification of Financial Institution Status

The applicant must declare their exact institutional function to establish their regulatory footprint:
  • Core FI Categories: Selection between a Depository Institution, Custodial Institution, Investment Entity (which is not a passive NFE), or a Specified Insurance Company (d9cce147-7… p. 1).
  • US Ownership Linkage: Explicit checkbox for an “Owner-Documented FI with substantial US owner(s)”, which mandates additional individual disclosure profiles under Annexure-II (d9cce147-7… p. 1).
  • Reporting Designation: Section to declare if the enterprise is a Reporting Financial Institution or a Non-Participating Financial Institution (d9cce147-7… p. 1).

🆔 Global Intermediary Identification Number (GIIN)

Tracking codes are required for entities cross-linked with global taxation registries:
  • GIIN Registration: If marked as an active investment entity or a reporting financial institution, the applicant must provide their assigned unique GIIN in the alpha-numeric block grid (d9cce147-7… p. 1).
  • Sponsored Arrangements: Provision for a “Sponsored Investment Entity” to explicitly log the GIIN of their overseeing sponsoring corporation (d9cce147-7… p. 1).

🛡 Non-Reporting Financial Entity (NRFI) Categories

If the institution is legally exempt from regular overseas account reporting, it must match its structural category against a detailed list of 24 distinct NRFI profiles, which include:
  • Sovereign & Central Bodies: Governmental Entities, International Organisations, or Central Banks (d9cce147-7… p. 1).
  • Retirement & Benefit Funds: Treaty Qualified, Narrow Participation, or Broad Participation Retirement Funds (d9cce147-7… p. 1).
  • Statutory Indian Funds: Employees’ State Insurance Funds, Gratuity Funds, or Provident Funds (d9cce147-7… p. 1).
  • Localised Entities: Local Banks (such as Regional Rural Banks or Urban Cooperative Banks meeting standard regulatory asset tests) and Financial Institutions working exclusively with a local client base (d9cce147-7… p. 1).
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