Channel Islands: FATCA and CRS reporting deadline is 30 June 2023 (Guernsey)
No change in the deadline for FATCA and CRS reporting
No change in the deadline for FATCA and CRS reporting
The tax authority in Guernsey on 10 May 2023 issued guidance (Bulletin 2023/4) under the FATCA and common reporting standard (CRS) regulations providing that there has been no change in the deadline for FATCA and CRS reporting.
Reporting Guernsey financial institutions are required to submit 2022 FATCA and CRS reports to the tax authority on or before 30 June 2023.
The tax authority also mentioned that reporting Guernsey financial institutions need to provide sufficient time in advance of the reporting deadline to receive approval and a Global Intermediary Identification Number (GIIN), as the U.S. tax authority (IRS) only refreshes the GIIN list on the first day of the month. Thus, to submit a report on time, new reporting Guernsey financial institutions will need to be on the GIIN list issued on 1 June 2023.
Read a May 2023 report [PDF 215 KB] prepared by the KPMG member firm in the Channel Islands
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