Course Outline
Introduction to CRS and Global Tax Transparency
- The history and objectives of the CRS and the Automatic Exchange of Information (AEOI).
- Identification of Reporting Financial Institutions and the scope of reportable accounts.
- Analysis of the relationship between CRS and FATCA, highlighting overlapping and distinct requirements.
Legal & Regulatory Framework
- Jurisdictional implementation models and associated legal instruments, such as Mutual Administrative Assistance Agreements (MCAA) and domestic legislation.
- Recent consolidated texts and amendments affecting due diligence and scope.
- Compliance obligations, regulatory timelines, and penalties for non-compliance.
Due Diligence Fundamentals: Identifying Tax Residency
- Required documentation, including self-certifications and reliable documentary evidence.
- Indicia search procedures applicable to both new and pre-existing accounts.
- Broader due diligence approaches and the utilization of AML/KYC information to determine tax residence.
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows.
- Data elements required for reporting, along with practical strategies for data quality and retention.
- Evaluation of automation and vendor tools versus manual processes, including considerations for service providers.
FATCA-like Requirements and Comparative Best Practices
- Commonalities with FATCA regarding classification, reporting mechanics, and the treatment of entities and beneficiaries.
- Key differences to address, such as scope, bilateral versus multilateral implementation, and jurisdictional variations.
- Practical mapping exercises to translate FATCA controls into CRS-compliant processes.
Reporting, Exchange Mechanisms, and Audit Readiness
- Formats and transmission channels for CRS reports, including 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
- 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 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
- A foundational understanding of financial services or compliance functions.
- Familiarity with basic tax concepts and customer onboarding procedures.
- Experience with AML/KYC processes is beneficial but not mandatory.
Target 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
