Note: If you’re a European entity or subsidiary, you must submit a self-certification form. This will determine your FATCA and/or CRS reporting status. Who is reportable for FATCA? FATCA reporting only applies when your organization or your controlling person(s) are considered aUS person(see ...
This global effort has led to the development of the OECD's Common Reporting Standard (CRS), inspired by FATCA. The CRS promotes Automatic Exchange of Information between participating countries, extending beyond U.S.-focused reporting. Many nations now participate in both FATCA and CRS, creating...
FATCA and CRS – a pair of unlikely twins and what they mean for families and family officesField, JoeThe International Family Offices Journal
Notwithstanding the fact that the majority of the affected jurisdictions have already met the OECD standards for transparency, Base Erosion and Profit Shifting (BEPS), FATCA, Common Reporting Standards (CRS) and country-by-country reporting, by imposing economic substance requirements the EU ha...
For FATCA, anActive NFFE is an active non-financial foreign entity. For CRS, an Active NFE is an active non-financial entity. Both terms can be considered equivalent. It means that your business is not considered as a passive or financial institution. If you’re unsure of your entity statu...
Capewell, Christopher