Earlier on this week, the United States of America Internal Revenue Service (IRS) informed Novum Bank Limited that the latter had been approved and assigned a global intermediary identification number (GIIN), under the U.S.A. FATCA legislation – Foreign Financial Institution (FFI) registration:
GIIN FPDID5.99999.SL.470
Novum will use the GIIN to identify itself to withholding agents for purposes of the said law and also to identify itself as the reporting institution for information reporting purposes under FATCA. The GIIN will also be used, in part, to identify the FI on the published IRS FFI List.