Course Outline
Introduction to CRS and Global Tax Transparency
- The history and purpose of CRS and Automatic Exchange of Information (AEOI)
- Identification of reporting entities: Reporting Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, including overlaps and differences in requirements
Legal & Regulatory Framework
- Jurisdictional implementation models and legal instruments (MCAA, domestic legislation)
- Recent consolidated texts and amendments affecting due diligence and scope
- Compliance obligations, timelines, and penalties for non-compliance
Due Diligence Fundamentals: Identifying Tax Residency
- Necessary documentation: self-certifications and reliable documentary evidence
- Indicia search procedures applicable to both new and pre-existing accounts
- A broader approach to due diligence, utilizing AML/KYC information to ascertain 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
- Comparing automation and vendor tools against manual processes; considerations for service providers
FATCA-like Requirements and Comparative Best Practices
- Key commonalities with FATCA, including classification, reporting mechanics, and the treatment of entities and beneficiaries
- Differences requiring strategic planning, such as scope, bilateral versus multilateral implementation, and jurisdictional variations
- Practical mapping exercises: transforming FATCA controls into CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Readiness
- CRS report formats and transmission channels; specific jurisdictional submission requirements
- Preparing for audits and regulator reviews through documentation, traceability, and evidence of due diligence
- Sample reporting workflows and reconciliation checks
Risk Management, Governance, and Internal Controls
- Developing governance frameworks, policies, and segregation of duties for CRS compliance
- Training, quality assurance, and exception handling for complex or 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 basic 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
- Understanding of financial services or compliance functions
- Familiarity with basic tax concepts and customer onboarding
- Experience with AML/KYC processes is advantageous but not mandatory
Audience
- Compliance officers and legal teams
- Staff involved in onboarding, KYC, and client due diligence
- Tax reporting and operations teams within financial institutions
Testimonials (3)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Flexibility in the course delivery and the interactive approach. The trainer was open to questions, clarified doubts clearly and also considered participants suggestions during the sessions. The training was well structured and informative.
Soundarya Mohan - Mizuho Bank Europe N.V.
Course - Financial Analysis in Excel
Good communication, open for discussion, kept it interesting and engaging
