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 several of the most common FATCA and CRS reporting errors, causes, and potential solutions for addressing some of the reasons for rejected files.

Countries who have FATCA & CRS reporting obligations include:

CRS

• January: Finland
• March: Belize, Curacao, Poland, Turks and Caicos
• April: Aruba, Japan, and Malta
• May: Canada, Denmark, Albania, Anguilla, Bahrain, Bermuda, British Virgin Islands, Hong Kong, India, Jamaica, Nigeria, Portugal, Russia, Saint Kitts and Nevis, Saudi Arabia, Singapore, South Africa, Spain and United Kingdom
• June: Kuwait, Argentina, Belgium, Brunei Darussalam, Bulgaria, Chile, China, Croatia, Czechia, Ghana, Guernsey, Indonesia, Ireland, Isle of Man, Israel, Jersey, Luxembourg, Montserrat, New Zealand, Oman, Qatar, South Korea, Switzerland, Taiwan, Thailand, Turkey and United Arab Emirates (UAE)
• July: France, Greece, Colombia, Australia, Austria, Barbados, Cayman Islands, Costa Rica, Cyprus, Ecuador, Estonia, Germany, Gibraltar, Jordan, Lebanon, Liechtenstein, Mauritius, Pakistan, Panama, Saint Lucia, Saint Vincent and theGrenadines, and Seychelles
• August: Netherlands, Antigua and Barbuda, Bahamas, Brazil and Mexico
• September: Trinidad and Tobago
• November: Uruguay

FATCA

• January: Finland and Honduras
• March: Belize, Curacao, Poland, Aruba, Japan, Albania, Russia and Brunei Darussalam, Chile, China, Ghana, Oman, Switzerland, Taiwan, Austria, Ecuador, Estonia, Pakistan, Armenia, Morocco, Rwanda, Senegal, Uganda, Cameroon, Mongolia, Papua New Guinea,Cook Islands, Faroe Islands, Kenya, Macau, Maldives, Marshall Islands, Moldova, Monaco, Nauru,Niue, Samoa, San Marino, Vanuatu
• April: Malta
• May: Canada, Denmark, Anguilla, Bahrain, Bermuda, British Virgin Islands, Hong Kong, India, Jamaica, Nigeria, Saint Kitts and Nevis, Saudi Arabia, Singapore, South Africa, Spain, United Kingdom
• June: Turks and Caicos, Argentina, Belgium, Bulgaria, Croatia, Czechia, Guernsey, Ireland, Isle of Man, Israel, Jersey, Luxembourg, Montserrat, New Zealand, Qatar, South Korea, Thailand, United Arab Emirates (UAE), Saint Lucia
• July: Portugal, France, Greece, Colombia, Australia, Barbados, Cayman Islands, Costa Rica, Cyprus, Germany, Gibraltar, Jordan, Lebanon, Liechtenstein, Mauritius, Panama,Saint Vincent and the Grenadines, Seychelles, Uruguay
• August: Kuwait, Indonesia, Netherlands, Antigua and Barbuda, Bahamas, Brazil, Mexico
• September: Turkey,Trinidad and Tobago

Countries who are expected to start CRS reporting obligations include:

• 2025: Armenia, Morocco, Rwanda, Senegal, Tunisia and Uganda

• 2026: Cameroon, Mongolia

• 2027: Papua New Guinea

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.