Montserrat: Amendments to FATCA and CRS regulations
Penalties imposed on reporting financial institutions may now be applied to the individuals responsible
The government on June 11, 2025, issued amendments to its tax information exchange regulations under FATCA and the common reporting standard (CRS).
The regulations introduce a new provision providing that penalties imposed on reporting financial institutions that are legal arrangements or branches located in Montserrat may now be applied to individuals responsible for managing the reporting financial institutions’ affairs in Montserrat. This includes trustees in the case of trusts, partners in the case of partnerships, and individuals involved in other legal relationships.
Read a July 2025 report prepared by a KPMG member firm in the Eastern Caribbean