Common FATCA and CRS Reporting Errors

Common FATCA and CRS Reporting Errors

Many institutions have experienced and continue to experience FATCA and CRS form rejections and errors in our electronic files transmitted for FATCA and CRS reporting. TAINA has put together some of the most common FATCA and CRS reporting errors, causes, and potential solutions for addressing some of the reasons for rejected files.

Countries who still have 2023-2024 CRS reporting obligations include:

CRS

• June: Argentina, Chile, China, Switzerland, Taiwan, Ghana, Croatia, New Zealand, Montserrat, Luxembourg, Jersey, Isle of Man, Guernsey, Bulgaria, and Belgium
• July: Australia, the Cayman Islands, Costa Rica, France, Germany, Gibraltar, Liechtenstein, Mauritius, Panama, St. Vincent & the Grenadines, Austria, Pakistan, and Saint Lucia

FATCA

• June: Croatia, New Zealand, Montserrat, Luxembourg, Jersey, Isle of Man, Guernsey, Bulgaria, Belgium, Turks and Caicos, and Saint Lucia
• July: Columbia, Portugal, Australia, the Cayman Islands, Costa Rica, France, Germany, Gibraltar, Liechtenstein, Mauritius, Panama, and St. Vincent & the Grenadines

CRS and FATCA:

• August: The Netherlands, Antigua, the Bahamas, and Mexico
• September: Trinidad

At TAINA we continue to monitor the reporting landscape. To find out more information on the FATCA and CRS regulation reporting errors download the whitepaper below or, get in touch with us today.