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Configure FATCA and CRS/DAC2 reports

FATCA and CRS/DAC2 reporting is based on pre-configured values, contact-level information and the list of portfolios to report. To start using FATCA and CRS/DAC2 reporting, first configure the fixed values.

Reporting company

Enter the reporting company details for the report. To do this, use the template contacts pre-installed in the system:

  • Company contact for FATCA reports with the FATCA_DEFAULT contact ID.

  • Company contact for CRS reports with the CRS_DEFAULT contact ID.

You can create more reporting companies, for example, if you need to report CRS/FATCA from different funds using different sending organization identification information. To copy the contact, click Copy as new in the Contact window.

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Enter the details:

  • Reporting currency for transactions

    • This can be left empty to report the transactions in the transaction’s security’s currency

  • Transmitting country

    • This is used to specify the MessageSpec/TransmittingCountry element in FATCA and CRS/DAC2 SE reports

  • Reporting scope

    • Select scope of the reporting:

      • Accounts scope will report last available totals of selected portfolios in one report file

      • Funds scope will report funds (Collective investment vehicles) and fund share holders in fund specific report files

      • Funds with Sponsor is like Funds scope, but it will report also Sponsor information for the reported fund (filer category FATCA607). This applies only to FATCA report, using this scope with CRS/DAC2 is the same as using Funds scope.

  • Sending organization GIIN

    • This is used to specify the ReportingFI\IN block in the CRS/DAC2 report

  • Sending organization IN

    • This is used to specify the MessageSpec\SendingCompanyIN block in the CRS/DAC2 report

  • IN issuing country

    • This is used to specify the ReportingFI\IN[issuedBy] attribute in the CRS/DAC2 report

  • Residence country of the organization

    • This is used to specify the ReportingFI\ResCountryCode block in the CRS/DAC2 report

  • Sending organization name

    • This is used to specify the ReportingFI\Name block in the CRS/DAC2 report

  • Sending organization address 1 and Sending organization address 2

    • These are concatenated and used to specify the ReportingFI\Address\AddressFree block in the CRS/DAC2 report

  • Sending organization P.O. box

    • This is used to specify the ReportingFI\Address\AddressFix\POB block in the CRS/DAC2 report

  • Sending organization postal code

    • This is used to specify the ReportingFI\Address\AddressFix\PostCode block in the CRS/DAC2 report

  • Sending organization state or equivalent

    • This is used to specify the ReportingFI\Address\AddressFix\CountrySubentity block in the CRS/DAC2 report

  • Sending organization city

    • This is used to specify the ReportingFI\Address\AddressFix\City block in the CRS/DAC2 report

  • Sending organization country

    • This is used to specify the ReportingFI\Address\CountryCode block in the CRS/DAC2 report

  • Contact person name

    • This is used to specify the MessageSpec\Contact\Name block in the CRS/DAC2 report

  • Contact person phone

    • This is used to specify the MessageSpec\Contact\Phone block in the CRS/DAC2 report

  • Contact person email

    • This is used to specify the MessageSpec\Contact\Email block in the CRS/DAC2 report

Specify the contact information

FATCA and CRS/DAC2 reports depend on contact-level information stored for each reportable contact. The information is stored in the FATCA and CRS/DAC2 tab of the contact window.

Common information for both FATCA and CRS/DAC2:

  • Contact type

    • Selecting person results in an AccountHolder\Individual record, while selecting organisation results in an AccountHolder\Organisation record

  • Tax residence country code

    • One ResCountryCode block per comma-separated country is specified under Organisation or Individual record (as specified above)

  • Birth date

    • If specified, a BirthInfo\BirthDate block is specified with this information under Individual record. If contact type is organisation, this field is not used

  • First name

    • If specified, a Name\FirstName block is specified with this information under Individual record. If not specified, “NFN” is used. If contact type is organisation, this field is not used

  • Last name

    • If contact type is organisation, a Name block is specified with this information under Organisation record. If contact type is person, a Name\LastName block is specified with this information under Individual record.

  • Street address and Street address2

    • If either of these fields is specified, Address\AddressFree block is specified under Individual or Organisation record with the concatenation of these fields.

  • P.O. box

    • If specified, Address\AddressFix\POB block is specified under Individual or Organisation record with this information

  • City

    • Address\AddressFix\City block is specified under Individual or Organisation record with this information

  • Country subentity

    • If specified, Address\AddressFix\CountrySubentity block is specified under Individual or Organisation record with this information

  • Postal code

    • Address\AddressFix\PostCode block is specified under Individual or Organisation record with this information

  • Country code

    • Address\CountryCode block is specified under Individual or Organisation record with this information

Information for CRS reports:

  • IN and issuing country

    • For each comma separated pair of issuing country and IN, either Organisation\IN or Individual\TIN block is specified, with IssuedBy attribute being the issuing country

    • If not specified, “000000000” is used without IssuedBy attribute

  • Account holder type

    • For each selected CRS101, CRS102 and/or CRS103, there will be a separate AccountReport record

    • If Contact type is organisation, the selected Account holder type will be set as AcctHolderType attribute of AccountHolder block

    • This field needs to be specified to have the contact’s portfolios in the CRS/DAC2 report, regardless whether the Contact type is person or organisation

  • Self-certification of tax residence country

    • AccountReport\SelfCertification block is set based on this selection

  • Dormant contact

    • AccountReport\AccountNumber[DormantAccount] attribute is specified based on this selection

  • Undocumented contact

    • AccountReport\AccountNumber[UndocumentedAccount] attribute is specified based on this selection

Information for FATCA reports:

  • TIN and issuing country

    • For each comma separated pair of issuing country and IN, either Organisation\IN or Individual\TIN block is specified, with IssuedBy attribute being the issuing country

  • Account holder type

    • FATCA101, FATCA102, FATCA103, FATCA104 or FATCA105 is specified based on the selected value for the AccountReport\AccountHolder[AccHolderType] attribute

    • If Contact type is selected as person, this field is not used

In addition to the information stored in the FATCA and CRS/DAC2 tab of the contact window, you can also tag the contact with tags FATCA and/or CRS/DAC2 to make the contact’s portfolios appear under FATCA and/or CRS/DAC2 saved portfolio views:

(See below for more information about generating the reports from the saved portfolio views.)

Controlling persons

For both FATCA and CRS/DAC2 reports there needs to be information about natural persons exercising control over reportable entities (e.g. companies). The relationships between these persons (controlling persons) and the entities can be mapped in FA by setting the controlling person as the representative of the entity and specifying the appropriate information for both the entity and the controlling person.

Start by filling the FATCA and CRS/DAC2 tab of the entity’s Contact window the same way as above. Then, make sure you have the controlling person as a contact in the system and fill the relevant data (in Basic info and FATCA and CRS/DAC2 tabs) for that contact as well. Be sure to mark that contact as Controlling person as well:

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After all the relevant data is specified and the natural person is marked as Controlling person, you can link the controlling person as the representative of the company in the Representatives tab of the company contact:

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Specifying the fund information

When FATCA or CRS/DAC2 report is run with scope Funds (or Funds with Sponsor), each fund security in the system is reported in its own report file. This file contains the information of the fund itself and fund's shareholders. 

Fund requirements for successful reporting:

  • Security type C = Collective investment vehicles

  • Security must have Fund details and Contact person details stored in FATCA & CRS/DAC2 tab under the Security window

    • Fund details

      • Name, name of the fund

      • GIIN code, GIIN of the fund

      • IN (identification number), national identification number of the fund

      • IN issued by, issuer country of the IN above

    • Contact person details

      • Name, contact person's name

      • Phone, contact person's phone number

      • Email, contact person's email address

  • Security must have linked portfolio

  • Linked portfolio must have primary contact with FATCA & CRS/DAC2 information stored

Reported shareholders must have the FATCA & CRS/DAC2 information stored.