The Comptroller of Revenue has announced an extension to the deadline for Jersey Financial Institutions to file their 2019 Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) reports.
The usual filing date of June has been moved to 30 September 2020.
This follows decisions taken by the US IRS and OECD Global Forum on Transparency and Exchange of Information for Tax Purposes regarding the international deadlines for automatic exchange of information in 2020. N.B.
-Financial Institutions are strongly advised to file by 30 June 2020 where possible.
-Errors identified by Revenue Jersey in files submitted early and which are corrected by 30 September 2020 will not incur penalties.