The following are scope exceptions to the variable interest entity (VIE) consolidation model:
Legal entity – The entity must be a “Legal entity” which includes a corporation, partnership, limited liability company (LLC), trust or any other type of legal entity that is formed under governmental authority for the purpose of holding assets, liabilities, or to conduct any type of activity.
Business – The entity is a “business” and meets other required conditions.
Employee benefit plan
Investment company accounted for at fair value under ASC 946
A “separate accounts” of a life insurance entity as described in ASC 944
A government organization
Links are to detailed explanations of each scope exception.