Guernsey Updates Regs for CRS 2.0

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 reporting data, provides guidance on obtaining birth dates and TINs, and includes a list of terms for which there is a new or changed definition.

Reporting Data

The new regulations require certain additional data be included in annual reporting. This means that onboarding documents / self-certifications must capture relevant information. These data points include:

• Whether the account is a joint account, including the number of joint Account Holders.

• What the account type is and whether the account is a Pre-existing Account or a New Account.

• If an Equity Interest is held in an Investment Entity that is a legal arrangement, indication of the role(s) by which the Reportable Person is an Equity Interest holder.*

• If a Reportable Person is a Controlling Person of an Entity, indication of the role(s) by which the Reportable Person is a Controlling Person.*

• Whether a valid self-certification has been provided for each Reportable Person.

*Reporting of the Controlling Person role and the Equity Interest holder role will be transitioned in over time. For a Reportable Account that is maintained by a Reporting FI as of December 31, 2025 and for reporting periods ending December 31, 2026 and December 31, 2027, the Controlling Person role and the Equity Interest holder role are only required to be reported if such information for that Reportable Account is available in the electronically searchable data maintained by the Reporting Financial Institution.

Guernsey Reporting Deadlines

Click to read Bulletin 2025/2 in its entirety. Click to read the updated legislation on the States of Guernsey and Revenue Service CRS & CARF site.

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