Which accounts are reportable according to CRS?

[Jessie]

CRS is the exchange of financial information for "reportable accounts"
However, I couldn't find clear definition of what is reportable account.
Seems to be different for every country but what are the common parameters for the western countries?

 

[Martin Everson]

Examine the local guidance provided by each country you are interested in. Alternatively the OECD‌ provides a nice general guide on this below (page 65) however reading the complete guide‍ from beginning to end is important to get the context before asking further questions.

http://www.oecd.org/tax/exchange-of...e-of-financial-information-in-tax-matters.pdf

btw example of local AEOI guidance provided by Bahamas thu&¤#

Bahamas AEOI/CRS Guidance Notes | Bahamas⁠ Financial Services Board

 

[Jessie]

I glanced it since right now time doesn't allow for more and so far it‌ seems that
- reportable account is every account even partially connected to reportable person
- and reportable person is everyone that is citizen of a country that has signed to‍ participate

so in human language every account related to country participating is reportable regardless of⁠ amounts and activity?
Did i get it right?

 

[Martin Everson]

Read the entire document please when you get the time then. If in doubt‍ get the local guidance for the country you are interested in. What I said in⁠ my original post is very important. There is no one size fits all for CRS⁤ in each country. Local guidance paper needs to be observed.

CRS is only concerned with reportable accounts as⁢ per the guide not "every account". Refer to the guide. thu&¤#

 

[Jessie]

Well if you've read it and know so much about it why just dont share‌ your expeience with us and save many people some time.

I mean the forums are‍ to share experience and knowledge right? Otherwise we could just google everything and not have⁠ any human interaction at all.

 

[Martin Everson]

Share what "experience" exactly?