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Irs photo

Responsible Office Reporting

By Dave Olenzak. President and Founder of TWC.

The IRS FATCA certification requires Periodical Certification of all Financial Institutions that are in countries that are either Model 2…

User guide transition

CRS Reporting 2021 - are you ready to meet the challenges?

By: Marco Zawar. MBA/LL.M

Introduction

In June 2019 the OECD released Version 3.0 of their…

Cayman

Cayman DITC Portal Open

By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One.

The long waited DITC Portal was finally opened on Sunday November the 8th…

Image from The Economist

The OECD’s Common Reporting Standard (CRS): how standard is it?

By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One.

So, what is Common and what is Standard? Well, according to Merriam Webster: 
The definition of…

CTS System

The OECD Common Transmission System

The OECD created the Common Transmission System (CTS) to exchange CRS data.  The CTS system is not a data warehouse, rather it works like a traffic policeman.  Local tax…

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FATCA TIN Reporting Requirements TIN Relief

Prior to FATCA and CRS, the collection of a…

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<Nationality> caught up in a lack of communication between US FATCA and CRS design groups?

The Nationality XML element seems to have been caught up in a lack of communication between US FATCA and CRS design groups.…

Coronavirus on world

IRS IDES Test Period Opens and FATCA Deadlines are Extended due to COVID-19

The IRS has opened a test period from August 3, 2020 through September 30, 2020 for their FATCA reporting systems called IDES and ICMM. This test period allows Financial Institutions to send test…

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Model 1 extension isn’t automatic

Note that the Model 1 extension isn’t automatic. It simply gives Tax Authorities the ability to push their own deadlines farther out in the year.  In a Model 1 (and Model 2) countries, the local…

Banner

Information for Financial Institutions

With a few exceptions, Model 2 and non-IGA Foreign Financial Institutions should take notice that they must have completed a Certification of Pre-existing Accounts (COPA) and a Periodic…

CRS/FATCA One

An Introduction to CRS/FATCA One

To View the Video Click Here

Irs photo

Responsible Office Reporting

By Dave Olenzak. President and Founder of TWC.

The IRS FATCA certification requires Periodical Certification of all Financial Institutions that are in countries that are either Model 2…

User guide transition

CRS Reporting 2021 - are you ready to meet the challenges?

By: Marco Zawar. MBA/LL.M

Introduction

In June 2019 the OECD released Version 3.0 of their…

Cayman

Cayman DITC Portal Open

By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One.

The long waited DITC Portal was finally opened on Sunday November the 8th…

Image from The Economist

The OECD’s Common Reporting Standard (CRS): how standard is it?

By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One.

So, what is Common and what is Standard? Well, according to Merriam Webster: 
The definition of…

CTS System

The OECD Common Transmission System

The OECD created the Common Transmission System (CTS) to exchange CRS data.  The CTS system is not a data warehouse, rather it works like a traffic policeman.  Local tax…

Banner

FATCA TIN Reporting Requirements TIN Relief

Prior to FATCA and CRS, the collection of a…

Banner

<Nationality> caught up in a lack of communication between US FATCA and CRS design groups?

The Nationality XML element seems to have been caught up in a lack of communication between US FATCA and CRS design groups.…

Coronavirus on world

IRS IDES Test Period Opens and FATCA Deadlines are Extended due to COVID-19

The IRS has opened a test period from August 3, 2020 through September 30, 2020 for their FATCA reporting systems called IDES and ICMM. This test period allows Financial Institutions to send test…

Banner

Model 1 extension isn’t automatic

Note that the Model 1 extension isn’t automatic. It simply gives Tax Authorities the ability to push their own deadlines farther out in the year.  In a Model 1 (and Model 2) countries, the local…

Banner

Information for Financial Institutions

With a few exceptions, Model 2 and non-IGA Foreign Financial Institutions should take notice that they must have completed a Certification of Pre-existing Accounts (COPA) and a Periodic…

CRS/FATCA One

An Introduction to CRS/FATCA One

To View the Video Click Here