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FinCEN Looking Toward Digital IDs

On September 7, 2022, Jimmy Kirby, Acting Deputy Director of the Financial Crimes Enforcement Network (FinCEN) spoke at the 2022 Federal...

BVI Makes CRS P&Ps A Legal Requirement

The British Virgin Islands (BVI) International Tax Authority (ITA) recently announced legislative amendments which require a Financial...

FATCA POC NOT RO Contacted by IRS

We have come to expect that the U.S. Internal Revenue Service (IRS) will send the FATCA Responsible Officer (RO) an email to alert the RO...

BVI FATCA/CRS Registration Fee Update

On February 11, 2022, the British Virgin Islands International Tax Authority (BVI ITA) announced it will be establishing a registration...

FATCA: When Is An Account Dormant?

In many jurisdictions such as the U.S., there are laws dictating when a financial institution must consider a customer’s financial...

IRS Unable to Enforce FATCA

Very surprising admission by the IRS Commissioner. Written Testimony of Charles P. Rettig, Commissioner Internal Revenue Service before...

IRS Adds New FAQ on FATCA Certifications

On March 23, 2022, the U.S. Internal Revenue Service (IRS) posted a new question and answer on its FATCA – FAQs General site: Q22. How do...

Bahamas Announces FATCA/CRS Portal Dates

The Bahamas Competent Authority announced the FATCA and Common Reporting Standard (CRS) portal will open for FATCA and CRS registration...