Foreign Financial Institution (FFI) Key Terms.

The Competent Authority for Grenada for FATCA purposes is the Inland Revenue Division.

CRS is a global reporting standard for the automatic exchange of information (AEOI) set forth by the Organization for Economic Cooperation and Development (OECD).

In order to facilitate the transmittal of information from FFIs to the IRS, the U.S. Treasury Department has issued several model Inter-Governmental Agreements (“IGAs”).