Common Reporting Standard

June 28th, 2017

To increase transparency of taxpayer information, the OECD has developed the Common Reporting Standard (CRS). This is a new global standard for the automatic exchange of account information. It builds on the existing FATCA requirements – and extends to other foreign countries outside the US.

To comply with the new Common Reporting Standard, effective 1 July 2017 –
All individuals and entity customers will need to provide self certifications regarding where they are a tax resident.

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