Finland: FATCA and CRS annual information returns due 31 January 2024

The Finnish tax administration published a newsletter reminding financial institutions that the deadline for submitting FATCA and common reporting standard (CRS) annual information returns for 2023 is 31 January 2024.

The deadline for submission can only be extended until 31 March 2024. Any request for extension must be clearly justified and must be made by 31 January 2024.

The annual information returns must include up-to-date contact details in case the tax administration has any queries regarding the returns. Accurate information of the account holder’s identity, such as name, tax identification number (TIN) and date of birth, must be provided.

The newsletter also highlights the following points with regards to preparing the annual information returns:

• The tax administration has prepared a FATCA and CRS checklists containing useful tips to support financial institutions in preparing the annual information returns.
• A TIN is mandatory for any new accounts reported on the CRS annual information returns. For pre-existing accounts, the TIN and the account holder’s date of birth must be reported, if it is known by the financial institutions. Financial institutions can verify the TIN through the OECD TIN and EU TIN check portals.
• A U.S. TIN is mandatory for the FATCA annual information return. The appropriate code for each instance should be entered in the TIN element by adhering to the technical guidance for FATCA reporting for TIN codes not known to the financial institutions.

Read a January 2024 report [PDF 548 KB] prepared by the KPMG member firm in Finland