Isle of Man

Financial Institutions in the Isle of Man submit reports for FATCA and CRS via the Information Providers' Online Service


Reporting deadline

30 June following the reporting year for both FATCA and CRS

Isle of Man flag

Information Providers' Online Service

Financial Institutions in the Isle of Man submit reports for FATCA and CRS via the Information Providers' Online Service. Reports may be submitted by third parties such as agents or service providers. Organisations are required to Register as an information provider before submitting reports for FATCA or CRS. Registration is only required where a Financial Institution has reporting obligations under the US Agreement (FATCA) or CRS. Separate submissions are required for FATCA and CRS by uploading XML files to the Information Providers' Online Service created using the relevant schemas.


General information on FATCA and CRS is provided on the GOV.IM website.


FATCA

Financial Institutions or their third party service providers submit FATCA reportable information via the Information Providers' Online Service, by uploading an XML file prepared using the standard FATCA_OECD v2.0 schema . Multiple Financial Institutions can be included in a combined submission file (for example for sponsored Financial Instititutions or Trustee Documented Trusts).


Practical guidance is contained in the Isle of Man Guidance notes GN55 updated 26 November 2020.


Nil returns

Where an Isle of Man Financial Institution has no Reportable Accounts for FATCA, a Nil return is not required. Isle of Man Financial Institutions may voluntarily file nil returns if they wish, in which case these should be submitted by uploading XML files created using the FATCA version 2.0 schema to the Information Providers' Online Service.


CRS

Financial Institutions in the Isle of Man submit CRS reportable information via the Information Providers' Online Service, by uploading an XML file prepared using the standard CRS_OECD version 2.0 schema . A single report containing all CRS reportable accounts should be submitted each year, separate reports for each reportable jurisdiction should not be produced.


Practical guidance and requirements are contained in the Isle of Man Guidance notes GN53 updated 26 November 2020.


Nil returns

Where an Isle of Man Financial Institution has no Reportable Accounts for CRS, a Nil return is not required.


CRS reportable jurisdictions

Isle of Man reportable jurisdictions are listed in Appendix III of the Isle of Man Guidance notes GN53 which includes a list of provisional reportable jurisdictions for the 2020 reporting period.