Crypto-Asset Reporting Framework (CARF)

Reporting obligations

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 requires RCASPs to collect, and report, information on crypto-asset users who are their customers and carry out necessary due diligence. This applies whether the crypto-asset users are individuals or entities.

RCASPs reporting in Ireland are obliged to provide Revenue with the following details in respect of all reportable users:

• Their:
  • Name.
  • Address.
  • Jurisdiction of residence.
  • Tax Identification Number (TIN).
  • Date of birth.
  • Place of birth, if avaialble.
• The role of the individual, if they are a controlling person of an entity.
• For each type of crypto-asset bought or sold, the amount paid or received, the number of units, and the number of transactions for the reporting period.
• For each type of crypto-asset transferred, the amount transferred, the number of units, and the number of transactions for the reporting period.
• For reportable retail payment transactions, the market value, the number of units, and the number of transactions.

The RCASP is obliged to send the crypto-asset user a copy of the information returned to Revenue.

RCASPs reporting in Ireland are also obliged to provide Revenue with the following details in respect of their own business:

• Their name.
• Their address.
• Their Tax Identification Number (TIN) and the country which issued it.
• Their Crypto Asset Operator ID, where relevant.
• Their global legal entity identifier, if available.

Crypto-asset users that do not have to be reported

The following crypto-asset users do not have to be reported:

• Entities listed on a stock exchange and related entities.
• A Government entity.
• An International organisation.
• A central bank.
• Certain financial institutions.

Next: Information to be provided by crypto-asset users