100580 – Timetable: Reporting: DAC/CRS

The table below sets out the information that is to be reported to HMRC for each reporting year in respect of the Directive on Administrative Cooperation governing the automatic exchange of information between the UK and the other EU Member States. Reporting is required to HMRC by 31 May next following the reporting year for which the information is required. The same reporting requirements apply to exchanges under the CRS.

Reporting Year to 31 December In Respect of Information to be Reported
2016 onwards Each Reportable Person Reportable Person either

·   Holding a Reportable Account, or

·   Name

·   Address

·   Jurisdiction of residence

·   As a Controlling Person of an entity account ·   Tax Identification Number (TIN)4

·   Date of Birth5

·   Place of Birth6

·   Account number or functional equivalent.

·   Name and identifying number (if any) of reporting financial institution.

·   Account balance or value.

2017 onwards ·   Custodial Accounts ·   Total gross amount of interest.

·   Total gross amount of dividends.

·   Total gross amount of other income paid or credited to the account.

·   The total gross proceeds from the sale or redemption of property paid or credited to the account.

·   Other Accounts ·   The total gross amount paid or credited to the account including the aggregate amount of redemption payments made to the Account Holder during the calendar year or other appropriate reporting period.

4 TIN(s) or date of birth is not required to be reported if such TIN(s) or date of birth is not in the records of the Reporting Financial Institution and is not otherwise required to be collected by such Reporting Financial Institution under domestic law or any European Union legal instrument. However, a Reporting Financial Institution is required to use reasonable efforts to obtain the TIN(s) and date of birth concerning Pre-existing Accounts by the end of the second calendar year following the year in which Pre-existing Accounts were identified as Reportable Accounts. Also, the TIN is not required to be reported if a TIN is not issued by the relevant Member State or other jurisdiction of residence.

5 See Footnote 3 above

6 place of birth is not required to be reported unless: (1) the Reporting Financial Institution is otherwise required to obtain and report it under domestic law or the Reporting Financial Institution is or has been otherwise required to obtain and report it under any European Union legal instrument in effect or that was in effect on 5 January 2015; and (2) it is available in the electronically searchable data maintained by the Reporting Financial Institution.