IRS opens QI portal for the Responsible Officer Certification and published new FAQs
On 4 April 2018, the Internal Revenue Service (“IRS”) has opened the QI portal and published new FAQs regarding the upcoming QI Responsible Officer certification. A new section titled “Periodic Certification” has been added to the existing FAQs.
Please refer to the following link for access to the updated FAQs.
Additionally, the IRS has updated the QI User Guide and made it available on its website (see “Publication 5262”). You can find the updated QI User Guide here.
OECD news regarding CRS
On 5 April 2018, the Organisation for Economic Co-operation and Development (“OECD”) published an updated list of all activated CRS agreements on its website.
Please refer to the following link for access to the updated list.
There are now more than 2700 bilateral agreements in place.
Additionally, the OECD published an updated version of the CRS Implementation Handbook, which can be accessed under the following link.
The Implementation Handbook is a guidance for governments to refer to in terms of their implementation of CRS rules into their local legislation and guidance, as well as a practical overview of CRS for the financial sector and the wider public.
We will continue to keep you updated as we follow and analyze these updates over the next few days. In the meantime, we are happy to answer any of your QI- and CRS-related questions.
Partner, Operational Tax
+41 58 792 43 72