Course Outline
Introduction to CRS and Global Tax Transparency
- History and purpose of the CRS and Automatic Exchange of Information (AEOI).
- Reporting obligations: Reporting Financial Institutions and the scope of reportable accounts.
- The relationship between CRS and FATCA, including overlapping and differing requirements.
Legal & Regulatory Framework
- Jurisdictional implementation models and legal instruments (MCAA, domestic legislation).
- Recent consolidated texts and amendments impacting due diligence and scope.
- Compliance obligations, timelines, and penalties for non-compliance.
Due Diligence Fundamentals: Identifying Tax Residency
- Required documentation: self-certifications and reliable documentary evidence.
- Indicia search procedures for new and pre-existing accounts.
- A wider approach to due diligence, utilizing AML/KYC information to determine tax residence.
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows.
- Data elements required for reporting and practical approaches to data quality and retention.
- Evaluating the use of automation and vendor tools versus manual processes; considerations for service providers.
FATCA-like Requirements and Comparative Best Practices
- Key commonalities with FATCA (classification, reporting mechanics, treatment of entities and beneficiaries).
- Differences to consider (scope, bilateral vs. multilateral implementation, jurisdictional variance).
- Practical mapping exercises: converting FATCA controls into CRS-compliant processes.
Reporting, Exchange Mechanisms, and Audit Readiness
- Formats and transmission channels for CRS reports; jurisdictional submission requirements.
- Preparing for audits and regulator reviews: 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 for CRS compliance.
- Training, quality assurance, and exception handling for complex/entity accounts.
- Remediation pathways and multi-jurisdiction coordination for legacy accounts.
Practical Labs and Case Studies
- Lab: Review and validate a set of sample account files and self-certifications; determine reportability.
- Lab: Configure a simple data-extraction and reporting checklist; produce a mock CRS XML extract.
- Case study: Handling 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 beneficial but not mandatory.
Audience
- Compliance officers and legal teams.
- Staff involved in onboarding, KYC, and client due diligence.
- Tax reporting and operations teams within financial institutions.
Testimonials (3)
Flexibility in the course delivery and the interactive approach. The trainer was open to questions, clarified doubts clearly and also considered participants suggestions during the sessions. The training was well structured and informative.
Soundarya Mohan - Mizuho Bank Europe N.V.
Course - Financial Analysis in Excel
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
