France: Updated FATCA, CRS technical guidance

France: Updated FATCA, CRS technical guidance

The tax authorities in France issued an updated version (v4.2) of FATCA technical guidance and an updated version (v2.5) of the common reporting standard (CRS) technical guidance for use by French financial institutions.

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The updated guidance provides technical descriptions and specifications required for the transmission of FATCA and CRS returns. The updates are provided in the ‘Calendrier’ section regarding the timelines for FATCA and CRS submissions. Reporting financial institutions are informed that the ‘TELE-TD’ portal for submission of FATCA and CRS/DAC2 files will be open from 22 June 2020 through 15 October 2020.

Additionally, through the CRS technical guidance, reporting financial institutions are informed that XML schema v2.0 will be used for reporting CRS/DAC 2 information from 1 January 2021.

Read a June 2020 report [PDF 72 KB] prepared by the KPMG member firm in France

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