Guernsey Financial Institutions submit reports for FATCA and CRS via the States of Guernsey Information Gateway Online Reporter (IGOR)
30 June following the reporting year for both FATCA and CRS
States of Guernsey Revenue Service issued Bulletin 2022/1 on 7 January 2022 which contains lists of CRS reportable jurisdictions for 2021, provisional reportable jurisdictions for 2022 and the revised participating jurisdictions list.
Guernsey Financial Institutions are required to submit reports for FATCA and CRS in XML format, via the Information Gateway Online Reporter (IGOR), either by uploading the relevant XML file to the IGOR portal or by using the API provided to transmit data directly to IGOR. Separate reports are required in XML format for FATCA (prepared using version 2.0 of the US FATCA schema) and CRS (prepared using version 2.0 of the OECD CRS schema from 1 January 2021).
The organisation which will be submitting on behalf of one or more FIs is required to register with IGOR. When successfully registered, a 4 digit Organisation ID is issued, which is used to manage submissions for Financial Institutions registered by that organisation. Each Financial Institution for which reports are to be submitted is required to be added to the Organisation ID in IGOR before it can be included in a report. Care should be taken to ensure that the name of the Financial Institution included in any FATCA or CRS report exactly matches the name as entered at registration. The submission may be rejected if the name does not match that held by IGOR.
IGOR includes the ability to setup a test organisation which can be used to test FATCA and CRS reports. A separate Organisation ID is provided for testing in order to keep details of test submissions separate from live filings. Financial Institutions must be added to the test Organisation ID before they can be included in a test submission. Note that when submitting test reports, the testing DocTypeIndicators (for example FATCA11, OECD11) should not be used, instead the standard versions (for example FATCA1, OECD1) should be included. This means that the same formats are used for both test and live files.
Guernsey Financial Institutions submit FATCA reportable information in XML format using version 2.0 of the US FATCA schema via IGOR. Multiple Financial Institutions can be included in a combined submission file (for example for sponsored Financial Instititutions or Trustee Documented Trusts), providing that all Financial Institutions have been registered on IGOR under the same Organisation ID. Information and guidance in relation to the US IGA are published on the Gov.GG website FATCA page.
Guernsey Reporting Financial Institutions which have registered for FATCA reporting under IGOR but have no reportable accounts to report are required to make a nil return. This can either be via the submission of a nil return in XML format or by selecting the option to submit a nil return from the Organisations & Reports section of IGOR.
Guernsey Financial Institutions submit CRS reportable information via IGOR, using version 2.0 of the CRS_OECD schema from 1 January 2021. A combined report may be submitted for all reportable/receiving jurisdictions and multiple FIs may be included in the same file, providing that all FIs have been registered under the same Organisation ID. Information and guidance is published on the Gov.GG website CRS page
Guernsey Reporting Financial Institutions which have registered for CRS reporting under IGOR but have no reportable accounts to report are required to make a nil return. This can either be via the submission of a nil return in XML format or by selecting the option to submit a nil return from the Organisations & Reports section of IGOR.
The most recent published list of reportable jurisdictions for the 2021 reporting period and the provisional list of reportable jurisdictions for the 2022 reporting period is contained in Bulletin 2022/1, published by the States of Guernsey Revenue Service.