Crypto-Asset Reporting Framework (CARF)
Overview
The Crypto-Asset Reporting Framework (CARF) is the agreed standard for the Automatic Exchange of Information (AEOI) on Reporting Crypto-Asset Service Providers (RCASPs). The CARF was published by the Organisation for Economic Co-operation and Development (OECD) in June 2023. Ireland is one of the jurisdictions which have signed up to the CARF.
Council Directive 2011/16/EU (DAC) provides for the exchange of taxpayer information between the tax administrations of European Union (EU) Member States. In 2023, the DAC was amended by Council Directive (EU) 2023/2226 (DAC8) to implement the CARF within the EU.
The CARF applies to RCASPs who facilitate the purchase, sale, or transfer of crypto-assets, or carry out reportable retail payment transactions.
RCASPs must collect, and automatically report, information on certain crypto-assets users for whom they carry out these transactions.
Irish legislation for CARF
The legislation which implements the CARF in Ireland is contained in:
The provisions apply from 1 January 2026.
When, and how, information is exchanged with other jurisdictions
An RCASP must report the details of relevant transactions by 31 May in respect of the previous calendar year. An RCASP must, by 31 May, provide a crypto-asset user with a copy of their information as included in the return.
Revenue will exchange reported information with relevant jurisdictions by 30 September. Data exchanged with other EU Member States is done so under DAC8 and with participating jurisdictions under the CARF.
- Example
An RCASP must collect information on reportable users and their transactions from 1 January 2026. The returns relating to this period must be filed by RCASPs by 31 May 2027. The reported information will then be exchanged with relevant jurisdictions by 30 September 2027.
Additional guidance
Where the legislation or the CARF does not address an issue, the primary source for guidance should be the further guidance issued by the OECD. This includes:
During the implementation of the CARF, the following email helpdesk is available for RCASPS: carf@revenue.ie
Revenue also has a Published list of participating jurisdictions for CARF.
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