Share with your friends

Russia: Updated CRS guidance, FAQs

Russia: Updated CRS guidance, FAQs

The Russian Federation’s tax authority issued an updated version of common reporting standard (CRS) guidance in the form of “frequently asked questions” (FAQs).


Related content

FAQs regarding the following items have been added:

  • Features to identify individuals directly or indirectly controlling a client (beneficiary) with respect to trusts or other similar financial structures
  • Definition of the term “controlled by another financial market organization”
  • Possibility of using a client’s foreign passport number as an alternate to foreign identification number
  • Information concerning application of the financial market organizations’ list of excluded contracts in certain situations (such as death, disability, etc.)
  • Situations under which financial market organizations can assign the status of undocumented account to an agreement/account
  • Identifying circumstances that may lead to a change in tax residence
  • Actions that need to be taken by a financial market organization in instances of a change in circumstances with respect to customers (beneficiaries) under previously open contracts
  • Actions that need to be taken by the financial market organization in instances of a change in circumstances with respect to customers (beneficiaries) under new contracts

FAQs regarding the following items have been updated:

  • Information relating to reporting information without specifying foreign taxpayer identification number if the country of the client does not automatically provide such identifiers (e.g., a TIN)
  • Information related to including separate subdivisions of foreign legal entities
  • Information on a requirement for transliteration of a client's name and other identifying information

In addition, the tax authority:

  • Updated the list of financial market organizations to include insurance brokers
  • Updated the description of “service technology” used in the exchange of information on financial accounts between financial market organizations and the tax authority
  • Launched a new portal for financial institutions to use to report a “scheme of avoiding inclusion in OECD standard reporting”

For information on KPMG’s global AEOI network professionals, email

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal