Bermuda: Updated CRS compliance form guidelines

Updated guidelines are intended to help reporting financial institutions in preparing the compliance form

Updated CRS compliance form guidelines

The Bermuda Ministry of Finance issued updated common reporting standard (CRS) compliance certification form guidelines (version 3.0).

The updated guidelines are intended to help reporting financial institutions in preparing the compliance form. The updated information concerns:

  • The due date for submissions
  • Descriptions of account holder, reportable account, reportable jurisdiction person, and reportable person
  • Guidance on trustee-documented trusts (TDTs)

Read a November 2021 report [PDF 579 KB] prepared by the KPMG member firm in Bermuda

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.