Channel Islands: Guidance on common errors in FATCA and CRS reporting (Jersey)

Guidance addressing common errors in 2023 reporting

Share
February 4, 2025

The government of Jersey on January 15, 2025, issued guidance addressing common errors in the 2023 FATCA and common reporting standard (CRS) reporting.

Key issues identified concern:

  • Failure to include complete and accurate information on the automatic exchange of information (AEOI) return
  • De-registration of global intermediary identification numbers (GIINs)
  • Use of default taxpayer identification number (TIN) for FATCA reporting
  • Reportable persons with multiple residencies
  • Failure to submit returns with negative or no balance
  • Reporting controlling persons under incorrect account holder code
  • Corrections to passive non-financial entity (NFE) with multiple controlling persons
  • Void return submissions
  • Failure to file an AEOI return
  • Discrepancy in entity naming convention
  • Administration change

Read a February 2025 report prepared by the KPMG member firm in Jersey

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline