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of <h1>Rule 114F clarifies India funds: FATCA-only non-reporting status, CRS reporting for non-U.S. accounts, gratuity treatment</h1> The circular clarifies treatment under Rule 114F for certain Indian funds: a Treaty-Qualified Retirement Fund and a non-public armed forces fund are non-reporting financial institutions only for U.S. (FATCA) reportable accounts but are not non-reporting under the CRS for non-U.S. reportable accounts; they therefore must be treated as reportable (or non-financial) per CRS classifications. Gratuity funds may be non-financial (passive NFE) if not managed by a financial institution, but if they are managed investment entities they are RFIs; qualifying retirement/pension accounts in gratuity funds remain excluded where statutory conditions and monetary limits are met.
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