FATCA: When Is An Account Dormant?
In many jurisdictions such as the U.S., there are laws dictating when a financial institution must consider a customer’s financial...
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IRS Unable to Enforce FATCA
Very surprising admission by the IRS Commissioner. Written Testimony of Charles P. Rettig, Commissioner Internal Revenue Service before...
IRS Adds New FAQ on FATCA Certifications
On March 23, 2022, the U.S. Internal Revenue Service (IRS) posted a new question and answer on its FATCA – FAQs General site: Q22. How do...
Bahamas Announces FATCA/CRS Portal Dates
The Bahamas Competent Authority announced the FATCA and Common Reporting Standard (CRS) portal will open for FATCA and CRS registration...
Singapore Updated FATCA TIN Reporting FAQ
On February 23, 2022, the Inland Revenue Authority of Singapore (IRAS) updated its IRAS FAQs on the Foreign Account Tax Compliance Act...
BVI Announces FATCA/CRS Registration Fees
On February 11, 2022, the British Virgin Islands International Tax Authority (BVI ITA) announced it will be establishing a registration...
Cayman Islands Updates Portal & CRS Jurisdictions
CRS Reportable Jurisdictions On January 31, 2022, the Cayman Islands published an updated list of Common Reporting Standard (CRS)...
Are You Preparing for the New U.S. Beneficial Owner Registry?
The U.S. Corporate Transparency Act (“CTA”) was enacted on January 1, 2021. On December 8, 2021, the Financial Crimes Enforcement Network...
Isle of Man Updates FATCA & CRS Guidance
The Isle of Man Income Tax Division published updated versions of FATCA and Common Reporting Standard (CRS) guidance notes. The updated...
Guernsey Self-Cert Reporting Extension
On January 27, 2022, Guernsey Revenue Service announced an extension for reporting the failure to obtain a valid self-certification. The...
New Guernsey Bulletin Mandatory Registration for Non-Reporting FIs
On December 24, 2021, Guernsey Revenue Service issued a bulletin discussing mandatory FATCA and Common Reporting Standard (CRS)...
Guernsey Expounds on FATCA/CRS Enforcement Measures
On December 17, 2021, Guernsey Revenue Service issued a bulletin discussing compliance measures it may take against a Financial...
Singapore Increased FATCA/CRS Penalties
Singapore recently increased the penalties for both FATCA and Common Reporting Standard (CRS) non-registration and non-filing offenses....
Bahamas FATCA/CRS Portal Open until January 14
The Bahamas Competent Authority announced the FATCA and Common Reporting Standard (CRS) portal is now open for FATCA and CRS registration...
FATCA: IRS Public Key Expires December 3
The IRS announced the Public Key for FATCA filing will expire on December 3, 2021. For those financial institutions (FIs) who submit...
Guernsey FATCA & CRS: Onsite Visits & Independent Inspectors
On September 13, 2021, the Guernsey Revenue Service (GRS) posted FATCA and CRS legislative and regulatory changes stemming from the July...
The BWF Inspire Scholarship
I am a member of the Boston Women in Finance (BWF) Board of Directors and BWF is thrilled to announce the launch of its inaugural BWF...
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