Can CRS NIL returns still be filed by uploading a NIL XML file instead of the manual process shown on screen today?
Yes.
If the FI doesn’t have the interest/dividend distribution details, but has the year end account value, will this suffice for CRS reporting?
The Standard at Section 1. Subparagraph A(4) – Account balance or value states that “in the case of an equity or debt interest in a Financial Institution, the balance or value of an Equity Interest is the value calculated by the Financial Institution for the purpose that requires the most frequent determination of value, and
If an account holder changes its tax residency during a reporting period, would that account holder be reported in both the jurisdiction, old and the new one, or else would be reported in the new tax residency only?
If at the end of the reporting period the Account Holder was no longer a tax resident in Jurisdiction A, then the account holder ceases to be reportable person for Jurisdiction A. Therefore, the account holder should not be reported to Jurisdiction A for that period. The account holder should only be reported to Jurisdiction
Does payment apply to nil reporting?
The payment is not applied based on the filings, all registered RFIs must pay the annual fee.
Do Secondary Users also receive the notification of receipt of payment? Service providers are no longer Primary Users?
Yes, the secondary user will be able to view the payment along with all other filings made for the RFI.
Are secondary users able to process the Annual fees on the portal?
Currently it is only for Primary Users, however, this may change by the time the portal becomes Live. Further updates will be provided once the portal is complete.
Is the applicable fee for each CRS return filed or just for the FI for that tax year with no separate fee per CRS return filed?
That is correct, the annual fees is applicable to the FI only.