Finland: Enhancements to check routines for CRS / DAC2
Changes are scheduled to be effective from June 2025
The tax administration of Finland on April 17, 2025, published a newsletter announcing the upcoming enhancements to the check routines for common reporting standard (CRS) / DAC2 annual information returns performed by the Ilmoitin.fi service portal.
Highlights of the enhancements include:
- If the report indicates that a self-certification has been provided, the account holder's (Individual's) date of birth must be included.
- For accounts reported as a “New Account,” the inclusion of self-certification will be considered mandatory.
- If an account is reported as an “Undocumented Account,” reporting financial institutions will not be able to indicate that a self-certification is provided.
These changes are scheduled to be effective from June 2025 and will be applicable to all CRS / DAC2 submissions made during June 2025 and thereafter. Notably, these changes do not introduce any new reporting requirements for the reporting financial institutions. However, the new checks will prevent the submission of CRS / DAC2 returns with certain errors or omissions.
Read an April 2025 report prepared by the KPMG member firm in Finland