{
  "url": "https://openlegislation.uk/international-tax-compliance-regulations-2015/regulation-24",
  "json_url": "https://openlegislation.uk/international-tax-compliance-regulations-2015/regulation-24.json",
  "legislation": "uksi/2015/878",
  "legislation_title": "The International Tax Compliance Regulations 2015",
  "legislation_url": "https://openlegislation.uk/international-tax-compliance-regulations-2015",
  "path": "regulation/24",
  "kind": "regulation",
  "number": "24",
  "heading": "Definitions",
  "text": "(1) In these Regulations—\n“the Commissioners” means the Commissioners for Her Majesty's Revenue and Customs,\n“specified non-reporting financial institution” means a non-reporting financial institution which is a trust within the meaning of Section VIII(B)(1)(e) of the CRS or paragraph II(D) of Annex II to the FATCA agreement,\n“the tribunal” means the First-tier Tribunal or, where determined by or under Tribunal Procedure Rules, the Upper Tribunal,\n“US Treasury Regulations” mean the US Regulations Relating to Information Reporting by Foreign Financial Institutions and Other Foreign Entities .\n(2) The following table lists the places where expressions that apply for the purposes of these Regulations are defined or otherwise explained—\nExpression\nRegulations\n. . .\nThe CRS\nThe FATCA agreement\naccount holder\n. . .\nSection VIII(E)(1) of the CRS\nArticle 1(1)(ee)\nannuity contract\n. . .\nSection VIII(C)(6) of the CRS\nCRS\nregulation 1(3)(aa)\ncash value insurance contract\n. . .\nSection VIII(C)(7) of the CRS\nthe Commissioners\nregulation 24(1)\ncontrolling person\n. . .\nSection VIII(D)(6) of the CRS\nArticle 1(1)(mm)\ncustodial account\n. . .\nSection VIII(C)(3) of the CRS\nArticle 1(1)(u)\n. . .\n. . .\nentity\n. . .\nSection VIII(E)(3) of the CRS\nArticle 1(1)(hh)\nexcluded accounts\nSchedule 2\n. . .\nSection VIII(C)(17) of the CRS\nthe FATCA agreement\nregulation 1(3)(c)\nfinancial account\n. . .\nSection VIII(C) of the CRS\nArticle 1(1)(s)\nfinancial institution\nregulation 1(5A)\n. . .\nSection VIII(A)(3) of the CRS\nhigh value account\n. . .\nSection VIII(C)(15) of the CRS\nSection II(D) of Annex I\nNFE\n. . .\nSection VIII(D)(7) of the CRS\ninvestment entity\nregulation 1(5A)\n. . .\nSection VIII(A)(6) of the CRS\nsubject to paragraph (3) new account\n. . .\nSection VIII(C)(10) of the CRS\nnon-participating financial institution\nArticle 1(1)(r)\nnon-reporting financial institution\n. . .\nSection VIII(B)(1) of the CRS\nparticipating jurisdiction\nregulation 1(7)(d)\n. . .\nSection VIII(D)(5) of the CRS\nsubject to regulation 3(4A)(a) and paragraph (3) pre-existing account\n. . .\n. . .\nsubject to paragraph (3), the replacement for Section VIII(C)(9) of the CRS in paragraph 82 of the commentary to Section VIII of the CRS\nArticle 1(1)(aa)\npre-existing entity account\n. . .\nSection VIII(C)(13) of the CRS\nSection IV of Annex I\nqualified non-profit entity\nregulation 1(7)(b)\nSection VIII(B)(10) of the CRS in paragraph 36sexies of the commentary to Section VIII of the CRS\nrelated entity\n. . .\n. . .\nthe replacement for Section VIII(E)(4) of the CRS in paragraph 82 of the commentary to Section VIII of the CRS\nreportable account\nregulation 2\n. . .\nSection VIII(D)(1) of the CRS\nArticle 1(1)(bb)\nreportable jurisdiction\nregulation 1(7)(c)\nSection VIII(D)(4) of the CRS\nreporting financial institution\n. . .\nSection VIII(A)(1) of the CRS\nArticle 1(1)(n)\nreportable person\n. . .\nSection VIII(D)(2) of the CRS\nrelevant agreement\nRegulation 1(5)\nself-certification provider\nregulation 12GA\nspecified non-reporting financial institution\nregulation 24(1)\n. . .\n. . .\n. . .\n. . .\nspecified U.S. person\nArticle 1(1)(gg)\nthe tribunal\nregulation 24(1)\nUK representative\nregulation 11(2)\nU.S. reportable account\nArticle 1(1)(dd) and paragraph I.B of Annex I\nU.S. Treasury Regulations\nregulation 24(1)\n(3) In respect of the accounts listed in paragraph (4)—\n(a) “new account” means a financial account maintained by a reporting financial institution opened on or after 13th May 2020;\n(b) “pre-existing account” means—\n(i) a financial account maintained by a reporting financial institution as of 12th May 2020, or\n(ii) a financial account within the replacement for Section VIII(C)(9) of the CRS in paragraph 82 of the commentary to Section VIII of the CRS, but in the application of that provision the references to “subparagraph C(9)(a)” are to be read as references to paragraph (i) of this sub-paragraph.\n(4) The accounts are—\n(a) non-registered pension arrangements where the annual contributions are limited to £50,000 and funds contributed cannot be accessed before the age of 55 except in circumstances of serious ill health;\n(b) Premium Bonds issued by the UK National Savings and Investments;\n(c) Fixed Interest Savings Certificates issued by the UK National Savings and Investments; and\n(d) Index Linked Savings Certificates issued by the UK National Savings and Investments.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 24(1) inserted (16.7.2025) by The International Tax Compliance (Amendment) Regulations 2025 (S.I. 2025/740), regs. 1(1), 14(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 24(2) omitted (31.12.2020) by virtue of The International Tax Compliance (Amendment) (No. 2) (EU Exit) Regulations 2020 (S.I. 2020/1300), regs. 1, 2(8)(c)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. 24(2) substituted (17.5.2017) by The International Tax Compliance (Amendment) Regulations 2017 (S.I. 2017/598), regs. 1(1), 19(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in reg. 24(2) substituted (16.7.2025) by The International Tax Compliance (Amendment) Regulations 2025 (S.I. 2025/740), regs. 1(1), 14(b)(ii) (with reg. 1(2))"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in reg. 24(2) omitted (31.12.2020) by virtue of The International Tax Compliance (Amendment) (No. 2) (EU Exit) Regulations 2020 (S.I. 2020/1300), regs. 1, 2(8)(a)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in reg. 24(2) substituted (20.11.2015) by The International Tax Compliance (Amendment) Regulations 2015 (S.I. 2015/1839), regs. 1, 2(5)(a)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in reg. 24(2) inserted (30.9.2016) by The International Tax Compliance (Client Notification) Regulations 2016 (S.I. 2016/899), regs. 1, 6(a)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in reg. 24(2) inserted (20.11.2015) by The International Tax Compliance (Amendment) Regulations 2015 (S.I. 2015/1839), regs. 1, 2(5)(b)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in reg. 24(2) inserted (13.5.2020) by The International Tax Compliance (Amendment) Regulations 2020 (S.I. 2020/438), regs. 1, 2(4)(a)(i) (with reg. 3)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in reg. 24(2) inserted (30.9.2016) by The International Tax Compliance (Client Notification) Regulations 2016 (S.I. 2016/899), regs. 1, 6(b)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in reg. 24(2) substituted (16.7.2025) by The International Tax Compliance (Amendment) Regulations 2025 (S.I. 2025/740), regs. 1(1), 14(b)(iii) (with reg. 1(2))"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in reg. 24(2) inserted (13.5.2020) by The International Tax Compliance (Amendment) Regulations 2020 (S.I. 2020/438), regs. 1, 2(4)(a)(ii) (with reg. 3)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in reg. 24(2) substituted (17.5.2017) by The International Tax Compliance (Amendment) Regulations 2017 (S.I. 2017/598), regs. 1(1), 19(c)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Words in reg. 24(2) omitted (31.12.2020) by virtue of The International Tax Compliance (Amendment) (No. 2) (EU Exit) Regulations 2020 (S.I. 2020/1300), regs. 1, 2(8)(b)"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Words in reg. 24(2) substituted (31.12.2020) by The International Tax Compliance (Amendment) (No. 2) (EU Exit) Regulations 2020 (S.I. 2020/1300), regs. 1, 2(8)(d)(i)"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "Words in reg. 24(2) inserted (16.7.2025) by The International Tax Compliance (Amendment) Regulations 2025 (S.I. 2025/740), regs. 1(1), 14(b)(v) (with reg. 1(2))"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Words in reg. 24(2) inserted (17.5.2017) by The International Tax Compliance (Amendment) Regulations 2017 (S.I. 2017/598), regs. 1(1), 19(b)"
    },
    {
      "type": "F",
      "label": "F18",
      "text": "Words in reg. 24(2) substituted (31.12.2020) by The International Tax Compliance (Amendment) (No. 2) (EU Exit) Regulations 2020 (S.I. 2020/1300), regs. 1, 2(8)(d)(ii)"
    },
    {
      "type": "F",
      "label": "F19",
      "text": "Words in reg. 24(2) inserted (16.7.2025) by The International Tax Compliance (Amendment) Regulations 2025 (S.I. 2025/740), regs. 1(1), 14(b)(iv) (with reg. 1(2))"
    },
    {
      "type": "F",
      "label": "F20",
      "text": "Words in reg. 24(2) substituted (20.11.2015) by The International Tax Compliance (Amendment) Regulations 2015 (S.I. 2015/1839), regs. 1, 2(5)(c)"
    },
    {
      "type": "F",
      "label": "F21",
      "text": "Words in reg. 24(2) inserted (16.7.2025) by The International Tax Compliance (Amendment) Regulations 2025 (S.I. 2025/740), regs. 1(1), 14(b)(vi)"
    },
    {
      "type": "F",
      "label": "F22",
      "text": "Words in reg. 24(2) omitted (16.7.2025) by virtue of The International Tax Compliance (Amendment) Regulations 2025 (S.I. 2025/740), regs. 1(1), 14(b)(i)"
    },
    {
      "type": "F",
      "label": "F23",
      "text": "Reg. 24(3)(4) inserted (13.5.2020) by The International Tax Compliance (Amendment) Regulations 2020 (S.I. 2020/438), regs. 1, 2(4)(b) (with reg. 3)"
    },
    {
      "type": "F",
      "label": "F24",
      "text": "Words in reg. 24(3)(b)(ii) substituted (31.12.2020) by The International Tax Compliance (Amendment) (No. 2) (EU Exit) Regulations 2020 (S.I. 2020/1300), regs. 1, 2(8)(e)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "The Regulations can be found on the US Department of the Treasury website at http://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATCA.aspx."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2015/878/regulation/24",
    "retrieved_at": "2026-10-28T23:40:26.984158+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}