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What types of financial institution report to Revenue under FATCA and CRS?

Financial institutions, for the purpose of the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS), can be:

  • custodial institutions
  • depository institutions
  • investment entities
  • specified insurance companies.

These include banks, investment traders, fund management companies and trust managers. Credit Unions are considered financial institutions for CRS but not for FATCA.

For more details on financial institutions, see the Guidance notes for FATCA in Ireland and the CRS.

What types of accounts are reported?

If you are non-resident and you hold a financial account, your details may be sent to Revenue. This occurs if your account is:

  • a depository account
  • a custodial account
  • a cash value insurance contract
  • an annuity contract
  • an equity or debt interests in an investment entity.

For more details on reportable account types, see the Guidance notes for FATCA in Ireland and the CRS.

Are trust accounts shared through AEOI?

Accounts held in trust are also considered for FATCA and CRS. If you are a controlling person (settlor, trustee or beneficiary) and non-resident, your details may be reported to Revenue.

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