Tax & reporting
CRS and FATCA: A Family Reporting Preparation Brief
Decision in brief
A reporting review should establish what each institution knows about the family, which legal person owns each account, and which adviser is responsible for each filing. Start with a records exercise rather than a search for a supposedly invisible structure.
What the source establishes
The OECD Common Reporting Standard provides for annual exchange of financial account information between participating jurisdictions. Local implementation and account classification matter; this is not a guarantee that every asset is reported identically everywhere.
Source:[1] OECD
Treat FATCA and any US-person reporting questions as a separate workstream for a US-qualified adviser. A second passport or a changed mailing address should not be used as a substitute for establishing the applicable tax status.
Build an account and entity map
| Record | Question |
|---|---|
| Account owner | Individual, company, trust or other entity? |
| Residence declaration | Does the institution’s record reflect the current supported position? |
| Tax identifiers | Are all required identifiers recorded accurately? |
| Controlling persons | Who must be identified for this entity? |
| Changes | What changed, when, and which institutions were notified? |
Prepare without sharing more than necessary
- Create an account list using masked identifiers for the initial conversation.
- List entities, beneficial ownership and controlling roles.
- Record current and former tax residencies with effective dates.
- Identify missing declarations, inconsistent records and open adviser questions.
- Agree a secure document process with the appointed professional before sending statements or identity documents.
When specialist review is particularly useful
A move, inheritance, new trust, company restructure or discovery of inconsistent bank records is a sensible trigger to ask for a review. Obtain advice on corrections and filing obligations before changing declarations. Our role is to help frame the request and coordinate an introduction, not certify reporting compliance.
Sources and scope
Editorial briefing checked against the linked sources. No independent professional review is claimed. Application to your circumstances requires a qualified specialist.
- Consolidated Common Reporting Standard (2025)
OECD · Source checked:
Define the next professional step
Share the objective, countries and timing. We review the request and discuss the specialist needed and whether an introduction is available. Agree the service scope and fees directly with the specialist.
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