FATCA/CRS Visits– Preparation and Practical Tips

This session will take delegates through what they can expect of a visit from the Automatic Exchange of Information (AEOI) team of the Guernsey Revenue Service. Under the bilateral FATCA agreement and the multilateral OECD agreement the Guernsey Revenue Service is the “competent authority” (or regulator) for both FATCA and CRS.

The Revenue Service, specifically the AEOI team, have a responsibility to perform regulatory supervision of reporting entities. This is being done via a combination of routes including data quality analysis, thematic and regulatory oversight visits. This course will help you and your business prepare for the visit.

Course Content

This session will cover the following topics:

• The AEOI Team and their supervisory role
• Automatic exchange of information (AEOI)
• FATCA/CRS Compliance Assurance Statements
• Inspection regimen
• Preparations for inspection

Course Benefits

The AEOI Team of the Revenue Service is commencing a program of oversight visits to reporting financial institutions. Routine inspections in a similar vein to those other regulators carry out will become par for the course. This course will let you know what to expect and how to best prepare.