Requirement to have a self-certification at account opening under CRS and FATCA17 December 2015
Questions have arisen from industry in relation to the application of the requirement for investor self-certification at account opening under the OECD Common Reporting Standard (CRS), which is due to take effect from 1 January 2016, and also under the existing FATCA reporting framework as already implemented in Ireland under the Intergovernmental Agreement with the US.
The Irish Funds FATCA/CRS Working Group has been engaging on behalf of industry with Irish Revenue on these questions and the clarifications being sought in the context of FAQs issued by the US Internal Revenue Service in respect of FATCA and by the OECD in respect of CRS.
The FATCA/CRS Working Group has prepared an Information Note on self-certification at account opening.
The CRS only self-certification forms have also been added our Tax page and the updated combined FATCA/CRS self-certification forms continue to be available on our website.