646 Acta Apostolicae Sedis - Commentarium Officiale

a) The term "United States" means the United States of America, including the States thereof, but does not include the U.S. Ter- ritories. Any reference to a "State" of the United States includes the District of Columbia.

b) The term "U.S. Territory" means American Samoa, the Common- wealth of the Northern Mariana Islands, Guam, the Common- wealth of Puerto Rico, or the U.S. Virgin Islands.

c) The term "IRS" means the U.S. Internal Revenue Service.

d) The term "HS/VCS" means Holy See, acting also in the name and on behalf of the Vatican City State.

e) The term "Partner Jurisdiction" means a jurisdiction that has in effect an agreement with the United States to facilitate the implementation of FATCA. The IRS shall publish a list identifying all Partner Jurisdictions.

f) The term "Competent Authority" means:

(1) in the case of the United States, the Secretary of the Treasury or his delegate; and

(2) in the case of HS/VCS, the Cardinal Prefect of the Secretariat for the Economy or his delegate.

g) The term "Financial Institution" means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.

h) The term "Custodial Institution" means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity's gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity's gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-cal- endar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.

i) The term "Depository Institution" means any Entity that accepts deposits in the ordinary course of a banking or similar business.