Course Outline
Introduction to CRS and Global Tax Transparency
- The history and purpose of CRS and the Automatic Exchange of Information (AEOI)
- Identifying Reporting Financial Institutions and the scope of reportable accounts
- Understanding the relationship between CRS and FATCA, including overlapping and distinct requirements
Legal & Regulatory Framework
- Jurisdictional implementation models and relevant legal instruments (MCAA, domestic legislation)
- Recent consolidated texts and amendments affecting due diligence scope
- Compliance obligations, timelines, and penalties for non-compliance
Due Diligence Fundamentals: Identifying Tax Residency
- Required documentation: self-certifications and reliable documentary evidence
- Indicia search procedures for both new and pre-existing accounts
- Utilizing AML/KYC information within a broader due diligence approach to determine tax residence
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows
- Essential data elements for reporting and practical strategies for data quality and retention
- Comparing automation and vendor tools with manual processes; considerations for service providers
FATCA-like Requirements and Comparative Best Practices
- Key commonalities with FATCA, including classification, reporting mechanics, and entity/beneficiary treatment
- Differences requiring planning, such as scope, bilateral vs. multilateral implementation, and jurisdictional variance
- Practical mapping exercises: converting FATCA controls into CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Readiness
- Formats and transmission channels for CRS reports, along with 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
- Designing 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: Review and validate sample account files and self-certifications to determine reportability
- Lab: Configure a data-extraction and reporting checklist; produce a mock CRS XML extract
- Case study: Managing complex entity structures, trusts, and controlling persons under CRS rules
Summary and Next Steps
Requirements
- A solid understanding of financial services or compliance functions
- Familiarity with basic tax concepts and customer onboarding processes
- Experience with AML/KYC processes is beneficial but not mandatory
Audience
- Compliance officers and legal teams
- Onboarding, KYC, and client due diligence staff
- 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.
