FATCA Registration for non reporting FI's (Co-operative Bank)

I want to know about the Co-operative bank (Non reporting FI) is classified under which type of Financial Institution's for FATCA Registration.

1) Direct Reporting NFFE

2) Participating FFI, including a Reporting Financial Institution under a Model 2 IGA

3) Registered Deemed- Compliant FFI that is Local FFI

4) Registered Deemed- Compliant FFI that is a Non-Reporting member of PFFI Group

5) Registered Deemed- Compliant FFI that is a Qualified Collective Investment Vehicle

6) Registered Deemed- Compliant FFI that is a Qualified credit issuer or servicer

7) Registered Deemed- Compliant FFI that is a Restricted Fund

8) Reporting Financial Institution under a Model 1 IGA

9) U.S. Financial Institution

Hi Rupesh,

For Co-operative Banks which are Non-Reporting Financial Institutions (FIs) under FATCA, the usual classification is:

3) Registered Deemed-Compliant FFI that is Local FFI

Cooperative banks in India typically qualify as Local FFIs under FATCA rules.
They are Deemed-Compliant FFIs because they comply with local regulations and are considered low-risk entities.
These banks register with the IRS and obtain a Global Intermediary Identification Number (GIIN) as a Registered Deemed-Compliant FFI.
They are generally not Participating FFIs and do not fall under Reporting FIs like Model 1 or Model 2 IGAs.

Direct Reporting NFFE: Non-Financial Foreign Entities; cooperative banks are financial institutions.
Participating FFI/Reporting FI under Model 2 IGA: Usually for banks with direct FATCA reporting agreements with the US IRS, which many co-op banks don’t have.
Registered Deemed-Compliant FFI that is a Non-Reporting member of PFFI Group: Applies to members of PFFI groups, usually not co-op banks.
Others (Qualified Collective Investment Vehicle, Credit issuer, Restricted Fund, US FI) do not fit cooperative bank profiles.