Qualified Family Partnership (QFP) Determination

A family partnership may request that the Federal Reserve make a determination whether it is a qualified family partnership under the BHC Act.

Section 2(o)(10) of the BHC Act

Section 225.14(c) of Regulation Y.

None required

A written request:

1. demonstrating how the partnership meets the criteria for status as a QFP;
2. a list of its existing activities and investments;

3. a copy of the partnership agreement;

4. a list of all partners;

5. a copy of the trust document for each partner that is a trust (if applicable);

6. a recent financial statement; and

7. the commitments as contained in Section 2(o)(10)(G).

60 days after a complete request is received by the Federal Reserve