Finland: Correction of FATCA and CRS annual information returns
Financial institutions can still submit corrected FATCA and CRS annual information returns for the 2024 reporting year by July 31, 2025.
The tax administration of Finland on June 17, 2025, published a newsletter informing financial institutions that they can still submit corrected FATCA and common reporting standard (CRS) annual information returns for 2024 reporting year by July 31, 2025.
Financial institutions can file a new return that completely replaces the previously submitted return. Alternatively, if the only change is to report additional financial accounts, financial institutions can submit a new return with a different MessageRefID. This new return must contain only the additional financial accounts and will not replace any previous returns; instead, it will be a complement to the reporting for the year.
Financial institutions must confirm that all reportable financial accounts are included in the returns. Starting September 1, 2025, any corrections to previously submitted 2024 FATCA or CRS/DAC2 returns must be submitted using a "correction" return.
Financial institutions should provide that the identifiers of the account holders and controlling persons are accurately included in the information returns, so that the recipient countries are able to automatically identify the reported account holders. Failure to do so may require the recipient countries to request additional information, leading to increased workload for the reporting financial institutions.
If any previously submitted data is found to be incorrect or incomplete, financial institutions should submit a replacement return with the corrected and complete data.
Read a July 2025 report prepared by the KPMG member firm in Finland