Bermuda: Updated CRS independent compliance review guidelines
Procedures for reporting financial institutions that elect to undergo an independent CRS review
The government of Bermuda on March 13, 2026, issued version 3.0 of its common reporting standard (CRS) independence compliance review guidelines. The update introduces procedures for reporting financial institutions that elect to undergo an independent CRS review instead of the review conducted by the Bermuda Competent Authority.
Additionally, the government also issued prescribed templates for both the independent reviewer approval letter and the certification letter.
Read a March 2026 report prepared by the KPMG member firm in Bermuda