On March 10, 2026, the Guernsey Revenue Service published a bulletin (2026/02) providing the FATCA and Common Reporting Standard (CRS) reporting deadlines and outlining the penalties associated with late reporting. Deadlines FATCA and CRS reporting for Y2025 data is due on or before Tuesday, June 30, 2026. There is a delay of potentially weeks between an entity registering in the U.S. Internal Revenue Service (IRS) FATCA portal and the entity appearing on the IRS FFI List . T

On January 23, 2026, the Guernsey Revenue Service published a bulletin (2026/01) with a revised list of 111 CRS Reportable Jurisdictions for the Y2025 reporting period. Guernsey removed Tunisia from its list of CRS Reportable Jurisdictions and added Cameroon and Qatar. The deadline for submitting Y2025 CRS reporting in the Guernsey IGOR portal is June 30, 2026. For Y2026 Reportable Jurisdictions (deadline June 30, 2027), Guernsey has provisionally included: Papua New Guinea a

On December 31, 2025, the Guernsey Revenue Service published a bulletin announcing changes to its Common Reporting Standard (CRS) regulations to include CRS 2.0. These changes have effect from January 1, 2026. The Bulletin indicates Guernsey may impose a penalty of up to £10,000 on an individual or Entity which does not provide a valid self-certification with respect to their role as an Account Holder or Controlling Person. Bulletin 2025/2 outlines certain changes in reportin

Guernsey On January 4, 2024, the Guernsey Revenue Service published a bulletin (2024/01) with a revised list of CRS Reportable and Participating Jurisdictions for the Y2023 reporting period. Guernsey removed 10 jurisdictions from its previously published Y2023 list of CRS Participating Jurisdictions. The deadline for submitting Y2023 CRS reporting in the Guernsey IGOR portal is June 30, 2024. For Y2024 Reportable Jurisdictions (deadline June 30, 2025), Guernsey has provisiona

On August 16, 2023, the Guernsey Revenue Service published a bulletin with a revised list of Participating Jurisdictions for the Y2023 reporting period. Guernsey removed eight jurisdictions from its previously published Y2023 list of CRS Participating Jurisdictions: · Georgia · Kenya · Moldova · Niue · Rwanda · Trinidad & Tobago · Tunisia · Ukraine The deadline for submitting Y2023 CRS reporting in the Guernsey IGOR portal is Ju

Guernsey Revenue Service issued a bulletin covering upcoming FATCA and Common Reporting Standard (CRS) deadlines and requirements. Mandatory Registration for All FIs Any Guernsey financial institution (FI) that was newly incorporated, established or transferred-in since the last reporting period must register with the Guernsey Revenue Service via IGOR by February 28, 2023 . To read more on this topic, see my December 24, 2021 blog post: New Guernsey Bulletin Mandatory Registr

Guernsey Revenue Service published a bulletin with the Reportable Jurisdictions for the Y2022 and Y2023 reporting periods. The Y2023 list includes the jurisdiction in the above chart and the following jurisdictions: Georgia Rwanda Tunisia The deadline for submitting Y2022 CRS reporting in the Guernsey IGOR portal is June 30, 2023. For assistance, please contact me via my contact page or at elizabeth@elizabethmcmorrowlaw.com .

On January 27, 2022, Guernsey Revenue Service announced an extension for reporting the failure to obtain a valid self-certification. The first reporting date has been extended from January 31, 2022 to March 31, 2022 for both new and pre-existing accounts. Self-Reporting Failed Self-Certs If a Financial Institution (FI) has not been able to validate a self-certification for a New Account within 90-days of the account being opened, the FI must report the account to the Guernse

Guernsey Revenue Service published a bulletin with the Reportable Jurisdictions for the Y2021 and Y2022 reporting periods. The Y2022 list includes the jurisdiction in the above chart and the following jurisdictions: Jordan Moldova Montenegro Thailand Uganda Ukraine The deadline for submitting Y2021 CRS reporting in the Guernsey IGOR portal is J une 30, 2022 . For assistance, please contact me via my contact page or at elizabeth@elizabethmcmorrowlaw.com .

On December 24, 2021, Guernsey Revenue Service issued a bulletin discussing mandatory FATCA and Common Reporting Standard (CRS) registration for all Guernsey financial institutions. The Guernsey Revenue Service makes clear that effective January 1, 2022, FATCA and CRS registration in IGOR is mandatory even if the financial institution does not have a reporting obligation . The deadline for registration is February 28, 2022 . Thereafter, a Non-Reporting FI (NRFI) will have the

On December 17, 2021, Guernsey Revenue Service issued a bulletin discussing compliance measures it may take against a Financial Institution (FI) with potential significant failings in meeting its FATCA and/or CRS obligations. Relevant Review Factors Guernsey provided the below list of nine factors it will take into consideration in determining if it will implement compliance measures against an FI: “whether the non-compliance issue is of a significant seriousness and risk to

On September 13, 2021, the Guernsey Revenue Service (GRS) posted FATCA and CRS legislative and regulatory changes stemming from the July 15, 2021 approval of the Income Tax (Guernsey) (Amendment) Ordinance, 2021, (the Ordinance). Onsite Visits The Ordinance provides the legal basis for GRS to undertake onsite visits to review a financial institution’s (FI’s) FATCA and/or CRS compliance. If GRS does not obtain consent from the FI or provide at least seven days written notice t

Given that FATCA and CRS have been in place for several years, Financial Institutions (FIs) should be prepared for examinations and penalties. The information sheet just released by Guernsey’s Revenue Service is a further indication of this point. The document discusses several topics including Guernsey’s review process, compliance pointers, governance, and training. Guernsey Revenue Service Review Guernsey expects FIs to have embedded robust controls and procedures to achiev

The Guernsey Revenue Service announced Financial Institutions (FIs) must submit Common Reporting Standard (CRS) and FATCA Compliance Statements as part of their Y2020 reporting. Through the Compliance Statement, an FI will confirm all reports submitted (including nil reports) comply with the relevant Guernsey regulations. Assurance Points The yet to be shared Compliance Statement will pose a series of questions requiring a Yes or No answer. If the FI answers No to a particula

Guernsey Guernsey announced it has extended both the FATCA and CRS reporting deadlines to September 30, 2020 . However, Guernsey made clear that filings submitted after September 30, 2020 may be subject to enforcement action. You should not put off all Guernsey preparation until later this summer as you must ensure that all of your Reporting Guernsey Financial Institutions (RGFIs) are registered in IGOR (the online Guernsey portal) by June 30, 2020 . There is a potential fina

As we enter the final months of Y2016, it is a good time to review some aspects of the UK FATCA/CDOT and CRS transition. The transition from CDOT to CRS began as of January 1, 2016 with the first report due to local tax authorities on March 31, 2017 (Turks & Caicos). As a reminder, the following jurisdictions participate in CDOT: • Anguilla • Bermuda • British Virgin Islands • Cayman Islands • Gibraltar • Guernsey • Isle of Man • Jersey • Montserra