Course Outline
Introduction to CRS and Global Tax Transparency
- The history and purpose of the CRS and the Automatic Exchange of Information (AEOI).
- Identification of Reporting Financial Institutions and the scope of reportable accounts.
- The relationship between CRS and FATCA, highlighting overlapping and distinct requirements.
Legal & Regulatory Framework
- Jurisdictional implementation models and legal instruments, including the Multilateral Competent Authority Agreement (MCAA) and domestic legislation.
- Recent consolidated texts and amendments impacting due diligence scopes.
- Compliance obligations, timelines, and penalties for non-compliance.
Due Diligence Fundamentals: Identifying Tax Residency
- Required documentation, including self-certifications and reliable documentary evidence.
- Indicia search procedures for both new and pre-existing accounts.
- Adopting a wider approach to due diligence and 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.
- Essential data elements for reporting and strategies for ensuring data quality and retention.
- Evaluating automation and vendor tools versus manual processes, with considerations for service providers.
FATCA-like Requirements and Comparative Best Practices
- Key commonalities with FATCA, including classification, reporting mechanics, and the treatment of entities and beneficiaries.
- Differences to plan for, such as scope, bilateral vs. multilateral implementation, and jurisdictional variance.
- Practical mapping exercises for converting FATCA controls into CRS-compliant processes.
Reporting, Exchange Mechanisms, and Audit Readiness
- Formats and transmission channels for CRS reports, along with 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 for CRS compliance.
- Training, quality assurance, and exception handling for complex or 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 simple data-extraction and reporting checklist to 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 responsible for 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
