Course Outline
Introduction to CRS and Global Tax Transparency
- The history and objectives of the CRS and the Automatic Exchange of Information (AEOI)
- Identifying Reporting Financial Institutions and defining the scope of reportable accounts
- Examining the relationship between CRS and FATCA, including overlapping and distinct requirements
Legal & Regulatory Framework
- Jurisdictional implementation models and legal instruments, such as the Multilateral Competent Authority Agreement (MCAA) and domestic legislation
- Recent consolidated texts and amendments affecting due diligence and scope
- Compliance obligations, specific timelines, and penalties for non-compliance
Due Diligence Fundamentals: Identifying Tax Residency
- Necessary documentation, including self-certifications and reliable documentary evidence
- Indicia search procedures applicable to both new and pre-existing accounts
- Adopting a broader due diligence approach, leveraging AML/KYC information to establish tax residence
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows
- Required data elements for reporting, along with practical strategies for data quality and retention
- Evaluating automation and vendor tools against manual processes, with specific considerations for service providers
FATCA-like Requirements and Comparative Best Practices
- Key similarities with FATCA, covering classification, reporting mechanics, and the treatment of entities and beneficiaries
- Differences to account for, including scope, bilateral versus multilateral implementation, and jurisdictional variations
- Practical mapping exercises to convert FATCA controls into CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Readiness
- CRS report formats and transmission channels, including specific jurisdictional submission requirements
- Preparing for audits and regulator reviews through documentation, traceability, and evidence of due diligence
- Sample reporting workflows and reconciliation checks
Risk Management, Governance, and Internal Controls
- Designing governance frameworks, policies, and segregation of duties to ensure CRS compliance
- Training, quality assurance, and exception handling for complex and entity accounts
- Remediation pathways and multi-jurisdiction coordination for legacy accounts
Practical Labs and Case Studies
- Lab: Review and validate sample account files and self-certifications to determine reportability
- Lab: Configure a basic data-extraction and reporting checklist to generate a mock CRS XML extract
- Case study: Managing complex entity structures, trusts, and controlling persons under CRS rules
Summary and Next Steps
Requirements
- A foundational understanding of financial services or compliance functions
- Familiarity with basic tax concepts and customer onboarding procedures
- Experience with AML/KYC processes is advantageous but not mandatory
Audience
- Compliance officers and legal teams
- Onboarding, KYC, and client due diligence staff
- Tax reporting and operations teams within financial institutions
Testimonials (4)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Good communication, open for discussion, kept it interesting and engaging
Ahmet Keyman - Keytrade AG
Course - Management Accounting and Finance for Non-Finance Professionals
Experience of the trainer and his way of conveying the content
Roggli Marc - Bechtle Schweiz AG
Course - FinOps
The trainer did not leave a single minute unexploited! He was up a storm throughout every lesson and provided much material for whatever he dealt with.
