Channel Islands: FATCA and CRS reporting deadlines are 30 June 2020 (Guernsey)

Channel Islands: FATCA and CRS reporting deadlines

The tax authority in Guernsey announced that the 2019 reporting deadlines for FATCA and common reporting standard (CRS) reporting will remain unchanged, despite the coronavirus (COVID-19) pandemic.

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Reporting financial institutions in Guernsey must register and report through the “IGOR” system by 30 June 2020.

In addition, reporting financial institutions must currently report CRS data using OECD’s CRS XML Schema v1.0 and User Guide 2.0. However, beginning 1 January 2021, the reporting Guernsey financial institutions are to refer to CRS XML Schema v2.0 and User Guide 3.0.

Further, the tax authority issued compliance notes for reporting financial institutions to consider when preparing and submitting FATCA and CRS reports.


Read an April 2020 report [PDF 79 KB] prepared by the KPMG member firm in the Channel Islands

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