Preexisting Individual Account

Any financial account held prior to the date the FFI’s agreement with the IRS comes into force

WT

Withholding Trust

Voice Verification

Authenticate existing customers using biometric voice recognition

Special Investment Advisor

An appointee of the trustee in an APT.

Zero coupon bonds

Also known as a Zero, a debt security which pays no interest (‘coupon’) but instead is traded at a discount (which generally decreases over time), rendering profit at maturity when the bond is redeemed for its full face value. Also known as a ‘deep discount bond’ (referring to the significant discount at the time of issue). Some zero-coupon bonds are issued as such, while others are created by financial institutions stripping out the coupon (which is traded

Yield to maturity

The yield to maturity is the internal rate of return from a security’sexpected cash flows. It comprises the total return on the security as if it were held to maturity, taking into account the

Venture Philanthropy

A combination of long-term investment practices and venture capital models applied to the voluntary sector, where a financial investment is made to a non-profit organization in order to build capacity, produce deliverables, and create social return.

Technical assistance

Settlor (in a trust)

Is the owner of the assets, which are transferred to the Trust.

Certified deemedcompliant FFI

A certified deemed-compliant FFI means an FFI that has certified as to its status as a deemed-compliant FFI by providing a withholding agent with the documentation applicable to the relevant deemed-compliant category. A certified deemed-compliant FFI is not required to register with the IRS.