Isle of Man: FATCA and CRS reporting deadline extended to 30 September (COVID-19)
Isle of Man: FATCA and CRS reporting deadline extended
The Isle of Man’s income tax authority announced the deadline for filing FATCA and common reporting standard (CRS) returns for the 2019 reportable year is extended to 30 September 2020, in response to the coronavirus (COVID-19) pandemic.
Concerning CRS reports, financial institutions are reminded of the following:
- CRS reports for the 2019 reportable year are required to be made in accordance with the current version of the CRS schema v1.0.
- CRS reports for the 2020 reportable year are required to be made using the updated CRS Schema v2.0 and must be submitted by 30 June 2021.
- Any data submitted after 1 December 2020 must be filed in accordance with CRS Schema v2.0.
- Financial institutions that need to file a corrected report or additional data must use CRS Schema v2.0 if filing after 1 December 2020, regardless of the reportable year.
Read a June 2020 report [PDF 74 KB] prepared by the KPMG member firm on the Isle of Man
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