3 July 2017

Common Reporting Standards

Common Reporting Standard (‘CRS’) is a global reporting standard, developed by the OECD, for the automatic exchange of information (AEOI). Its goal is to allow tax authorities to obtain a clearer understanding of financial assets held abroad by their residents, for tax purposes. As a financial institution we are required to collect and report information on non-residents to the Australian Taxation Office (‘ATO’).

CRS legislation will take an effect on 1 July 2017 and we have updated our application forms to capture the US Foreign Account Tax Compliance Act (‘FATCA’) and other jurisdictions CRS information. You can now download the latest application form using this link http://ironbarkam.com/offer-documents-fund-reports/