OECD: Technical changes in CRS XML schema 2.0

OECD: Technical changes in CRS XML schema 2.0

Version 2.0 of the common reporting standard (CRS) XML schema introduced by the Organization for Economic Cooperation and Development (OECD) includes technical changes to the prior version, CRS XML schema version 1.0.

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The OECD in 2019 sought feedback from jurisdictions and financial institutions on issues pertaining to CRS XML schema version 1.0. The OECD in June 2019 introduced version 2.0 of the CRS XML schema reflecting updates in response to the feedback.

In addition, the OECD published version 3.0 of its CRS XML schema user guide, providing specific details on changes to the new schema. Read version 3.0 of the CRS XML schema user guide [PDF 4.8 MB]

Technical changes

The major technical changes in CRS XML schema version 2.0 are as follows:

  • Updated maximum and minimum lengths for all string elements: The string (text) elements now have a minimum length of one character and a maximum of 200 characters. A value must be placed wherever the element requires data and for optional elements having no values, these elements must be omitted.
  • Updated nil reporting/zero data messages procedure between tax authorities: The “MessageTypeIndic” can be used domestically to show that the financial institution has carried out the correct checks of its client data but that there is no data to report (“nil report”). In that case, the “MessageTypeIndic” will have the value CRS703, the account report will be omitted while the CrsBody and reporting will be provided.
  • Updated element “MessageTypeIndic”: This highlights whether an XML file is new data or corrected/deleted data. The element now has to pass validation under the new schema, which was optional in the previous schema.
  • Updated ISO country and currency lists to reflect most recent developments: The latest schema is aligned to the latest updates to the standards set by the International Organization for Standardization. This includes the country code “XK” for Kosovo.
  • Updated attribute “version” for the root element CRS_OECD: This will now be mandatory for reporting financial institutions to fill. This attribute will need to be set to “2.0” for the new schema. 

KPMG observation

There is a slight discrepancy between the OECD user guides, which notes that CRS XML schema version 1.0 is no longer to be used after 1 January 2021, while the OECD website states that version 1.0 will be in use until 31 January 2021.

Many jurisdictions issued guidance providing for a period to transition to the new schema during January 2021, during which time there were portal shutdowns as jurisdictions made updates for the new schema version 2.0. However, financial institutions are to begin using the new schema for reporting all 2020 exchanges (including new data, corrections, and deletions).


Read a March 2021 report [PDF 78 KB] prepared by KPMG LLP 

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