Centralization of certifications under Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) at KYC Registration Agencies (KRAs)
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
FATCA and CRS centralization at KRAs streamlines reporting; intermediaries must upload client certifications and ensure compliance. Intermediaries who are reporting financial institutions must upload FATCA and CRS client self certifications onto KRA systems from July 01, 2024; certifications obtained earlier must be uploaded within 90 days of implementation. Intermediaries remain responsible for obtaining and reporting certifications, must confirm their reasonableness using account opening and PMLA documentation, and must update certifications on client notification. KRAs shall develop coordinated systems and uniform guidelines in consultation with SEBI.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
FATCA and CRS centralization at KRAs streamlines reporting; intermediaries must upload client certifications and ensure compliance.
Intermediaries who are reporting financial institutions must upload FATCA and CRS client self certifications onto KRA systems from July 01, 2024; certifications obtained earlier must be uploaded within 90 days of implementation. Intermediaries remain responsible for obtaining and reporting certifications, must confirm their reasonableness using account opening and PMLA documentation, and must update certifications on client notification. KRAs shall develop coordinated systems and uniform guidelines in consultation with SEBI.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
