The Common Reporting Standard (CRS)

Who is the training for?

Compliance Officers, tax experts in charge of operational tax related questions, FATCA and CRS responsible persons, internal auditors in financial institutions and company administrators/directors. Employees in a bank, insurance, investment fund (UCITS/Private Equity) or domiciliation company.

Level reached

Avancé

Duration

4,00 hours(s)

Language(s) of service

Next session

Contact the organization

Goals

Understanding the framework and objective of this regulation.
Identifying the principal interactions with FATCA.
Studying the mechanisms and impacts.
Raising awareness on the principal risks and the way to manage them.

Context and main principles

Source: DAC2/OECD CRS.
Legal framework and the International and Luxembourg regulations.
Main principles and the timeline.

Question of the classification of entities

Determine who does what.
Identify the similarities and differences with FATCA and the possibility or not of a reclassification to be carried out.
Consequences depending on the status.

Specific obligations of financial institutions (due diligence and reporting)

Rules for the review and identification of clients.
Obligations over time: documentation, monitoring and management of changes in circumstances.
Reporting: customer information and data protection issues.
Controls and penalties in case of non-compliance.