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ARTICLE · 09 JULY 2021

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Reporting Deadline For Financial Institutions

Grant Thornton
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Certain Financial Institutions in Ireland are obliged to file both Foreign Account Tax Compliance Act (‘FATCA') and Common Reporting Standard (‘CRS') reports by 30 June 2021 with Revenue.

IrelandFinance and Banking
Brian Murphy
Brian Murphy
Kim Doyle
Kim Doyle

Certain Financial Institutions in Ireland are obliged to file both Foreign Account Tax Compliance Act ('FATCA') and Common Reporting Standard ('CRS') reports by 30 June 2021 with Revenue.

Those with a reporting obligation, that is "Reporting Financial Institutions" ('RFIs') should compile and validate the reportable account information for inclusion on both the FATCA/CRS reports.

What should FIs do?

In advance of the deadline, FIs should take the following steps to ensure compliance with FATCA and CRS:

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To ensure compliance and avoid fines and/or penalties, it is vital that the information is accurate and complete and the reports are filed on time.

Other Considerations for Reporting

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