Barbados: AEOI web portal for FATCA and CRS filings, open until 1 June 2021

The AEOI web portal will be open until 1 June 2021 to facilitate prior year FATCA and common reporting standard (CRS) filings.

The AEOI web portal will be open until 1 June 2021

The Barbados Revenue Authority announced that the automatic exchange of information (AEOI) web portal will be open until 1 June 2021 to facilitate prior year FATCA and common reporting standard (CRS) filings. The web portal has been available from 6 May 2021.

  • Financial institutions with outstanding reports must first notify the revenue authority of their intent to file in order to be granted access to the portal.
  • The revenue authority has provided all financial institutions with a list of information to be submitted in order to have access to the portal, and has advised financial institutions to use CRS 2.0 schema for preparing these submissions.
  • Financial institutions are reminded to exercise caution while collecting information from account holders and to confirm the information is valid and accurate. Mandatory fields for FATCA and CRS (such as date of birth, taxpayer identification number (TIN), and address) cannot be left blank and are to be filled with factual data. Also, financial institutions with outstanding reports may use this opportunity to standardize FATCA/CRS submissions.


Read a May 2021 report [PDF 353 KB] prepared by the KPMG member firm in Barbados

 

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