During the past weeks, the IRD has published updated versions of the FATCA and CRS guidelines. The FATCA guidelines now provide more concrete guidance as to how Financial Institutions should report recalcitrant accounts in their Annual FATCA report.
Three updates have been made to the CRS guidelines, the first of which being the inclusion of the UK, Antigua and Barbuda as part of the Non-EU reportable jurisdictions. More guidance has also been included as to the balance or value of a joint account attributable to each account holder. Additionally, a link to the OECD’s sample self-certification form has also been include as a footnote in the guidelines.
Should you require further information on these changes, do not hesitate to reach out to us and we would be more than happy to provide our assistance. May we remind you that the deadline for the filing of the FATCA and CRS reports in relation to reportable Accounts held during 2018 falls on the 30th April 2019. Kindly do not hesitate to contact us should you require our assistance with the reporting deadline.
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