Exchange of information

Standard for Automatic Exchange of Financial Account Information

 

Common Reporting Standard

‌‌Standard of Automatic Exchange of Financial Cover Page‌‌

Publication Date: 13/02/2014

G20 Leaders at their meeting in Russia in September 2013 fully endorsed the OECD proposal for a truly global model of automatic exchange and invited the OECD working with G20 countries to present such a new single standard for automatic exchange of information in time for the February 2014 meeting of the G20 Finance Ministers and Central Bank Governors.

The standard contained in this report and released in preparation for that meeting calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions that need to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions. Part I of this report gives an overview of the standard. Part II contains the text of the Model Competent Authority Agreement (CAA) and the Common Reporting and Due Diligence Standards (CRS) that together make up the standard.

The new standard draws extensively on earlier work of the OECD in the area of automatic exchange of information. It incorporates progress made within the European Union, as well as global anti-money laundering standards, with the intergovernmental implementation of the US Foreign Account Tax Compliance Act (FATCA) having acted as a catalyst for the move towards automatic exchange of information in a multilateral context.

 

 

Press Release


13/02/2014 - OECD delivers new single global standard on automatic exchange of information

More information


Automatic Exchange of Information

For further information, please contact Pascal Saint-Amans (Pascal.Saint-Amans@oecd.org) or Achim Pross (Achim.Pross@oecd.org) from the Centre for Tax Policy and Administration.

 

 

 

Related Documents

 

Automatic Exchange of Information: What It Is, How It Works, Benefits, What Remains To Be Done

Tax: OECD’s Gurría welcomes international progress towards automatic exchange of information

 

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