Malta: Updated FATCA, CRS guidance regarding AEOI

Malta: Updated FATCA, CRS guidance regarding AEOI

The Inland Revenue issued updated guidance for the automatic exchange of financial account information (AEOI) under the FATCA and common reporting standard (CRS) regimes.

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The revised guidance contains updates concerning U.S. taxpayer identification numbers (TINs) and “date of birth.”

  • If a U.S. TIN is not in the records of the financial institution for pre-existing accounts, certain other codes can be reported in the TIN field code. If the U.S. TIN was not in the records of the financial institution for new individual accounts, there are other codes that can be reported in the TIN field code.
  • The “date of birth” element is not required for FATCA purposes. However, if the U.S. TIN is not in the records of the financial institution for an individual account holder or a controlling person, for the reporting year, the date of birth must be reported.

Read an April 2021 report [PDF 105 KB] prepared by the KPMG member firm in Malta

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