Channel Islands: No change in deadline for FATCA and CRS reporting (Guernsey)

All reporting Guernsey financial institutions must submit their 2021 FATCA and CRS reports on or before 30 June 2022.

No change in deadline for FATCA and CRS reporting (Guernsey)

The tax authority in Guernsey issued guidance (Bulletin 2022/3) to inform financial institutions that there has been no change in the deadline for FATCA and common reporting standard (CRS) reporting.

Therefore, all reporting Guernsey financial institutions must submit their 2021 FATCA and CRS reports on or before 30 June 2022.

Financial institutions need to provide sufficient time in advance of the reporting deadline to receive approval and a Global Intermediary Identification Number (GIIN) as the IRS only refreshes the GIIN list on the first day of the month. Thus, to submit a report on time, new reporting financial institutions will need to be on the GIIN list issued on 1 June 2022.

Read an April 2022 report [PDF 154 KB] prepared by the KPMG member firm in the Channel Islands

 

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