The AEOI web portal will re-open for prior year submissions beginning August 1, 2024, and will remain open until August 30, 2024.
The Barbados Revenue Authority in June 2024 issued guidance note OGC No. 04/2024 advising all reporting financial institutions that the automatic exchange of information (AEOI) web portal will re-open for prior year submissions beginning August 1, 2024, and will remain open until August 30, 2024, to facilitate prior year FATCA and common reporting standard (CRS) filings and any corrections to reports submitted for the reporting years 2018 to 2022.
The guidance further notes that FATCA and CRS reports for the 2023 reporting period cannot be submitted during this time. Additionally, reporting financial institutions with outstanding reports are instructed to inform the Reporting Authority of their intention to submit prior year FATCA and CRS reports or make any corrections to any previously submitted reports. Submissions need to be done using the CRS 2.0 schema and include the specified table template from the guidance when seeking approval to submit a report.
Read a June 2024 report prepared by a KPMG member firm in Barbados