close
Share with your friends

Russia: Reminder of 31 May deadline, CRS reporting for 2020

Russia: Reminder of 31 May deadline, CRS reporting

The Russian Federation’s tax authority issued a reminder for financial institutions that common reporting standard (CRS) reports for the 2017, 2018, and 2019 reporting periods must be submitted by 31 May 2020.

1000

Related content

The update states that three electronic documents need to be submitted in 2020, including:

  • New report for 2017 or notification of the exclusion of pre-existing entity contracts (accounts) with a balance (value) less than U.S. $250,000 for 2017 (if not previously submitted)
  • New report for 2018
  • New report for 2019

Additionally, financial institutions are required to share a “nil report” for each of the three periods when there is no reportable information.


Read a March 2020 report [PDF 83 KB] prepared by KPMG LLP

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained 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