Course Outline
Introduction to CRS and Global Tax Transparency
- The history and objectives of the CRS and Automatic Exchange of Information (AEOI)
- Identification of Reporting Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, highlighting overlaps and distinctions
Legal and Regulatory Framework
- Jurisdictional implementation models and legal instruments, including MCAs and domestic legislation
- Recent consolidated texts and amendments affecting due diligence and scope
- Compliance obligations, reporting timelines, and penalties for non-adherence
Due Diligence Fundamentals: Identifying Tax Residency
- Essential documentation: self-certifications and reliable documentary evidence
- Indicia search procedures applicable to new and pre-existing accounts
- A broader due diligence approach leveraging AML/KYC information to determine tax residence
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows
- Required data elements for reporting, along with practical strategies for data quality and retention
- Evaluating automation and vendor tools against manual processes; considerations for service providers
FATCA-like Requirements and Comparative Best Practices
- Key similarities with FATCA regarding classification, reporting mechanics, and the treatment of entities and beneficiaries
- Distinctions to consider, such as scope, bilateral versus multilateral implementation, and jurisdictional variations
- Practical mapping exercises to translate FATCA controls into CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Readiness
- CRS report formats, transmission channels, and jurisdictional submission requirements
- Preparing for audits and regulator reviews through documentation, traceability, and due diligence evidence
- Sample reporting workflows and reconciliation checks
Risk Management, Governance, and Internal Controls
- Establishing governance frameworks, policies, and segregation of duties for CRS compliance
- Training, quality assurance, and exception handling for complex entity accounts
- Remediation pathways and multi-jurisdiction coordination for legacy accounts
Practical Labs and Case Studies
- Lab: Reviewing and validating sample account files and self-certifications to determine reportability
- Lab: Configuring a simple data-extraction and reporting checklist to generate a mock CRS XML extract
- Case study: Managing complex entity structures, trusts, and controlling persons under CRS rules
Summary and Next Steps
Requirements
- A foundational understanding of financial services or compliance functions
- Familiarity with basic tax concepts and customer onboarding processes
- Experience with AML/KYC processes is advantageous but not mandatory
Target Audience
- Compliance officers and legal teams
- Staff responsible for onboarding, KYC, and client due diligence
- Tax reporting and operations teams within financial institutions
Testimonials (4)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Good communication, open for discussion, kept it interesting and engaging
Ahmet Keyman - Keytrade AG
Course - Management Accounting and Finance for Non-Finance Professionals
Experience of the trainer and his way of conveying the content
Roggli Marc - Bechtle Schweiz AG
Course - FinOps
The trainer did not leave a single minute unexploited! He was up a storm throughout every lesson and provided much material for whatever he dealt with.