All FIs in the BVIFARs portal have a reporting obligation. Whether they have reportable accounts or not. The Mutual Legal Assistance (Tax Matters) Act, Revised Edition 2023 requires all FIs to file a report. Those FIs that have no reportable accounts will have to complete a NIL filing. As such all RFIs registered in the BVIFARs will be subject to the annual fee. It must be noted that the fee applied is not an annual filing fee, it is simply an annual fee imposed on each registered entity.