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HMRC internal manual

International Exchange of Information Manual

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HM Revenue & Customs
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Timetable: Inter-Governmental Agreement dates

Inter-Governmental Agreement Dates

The various agreements entered into by the UK in respect of automatic exchange of information have different dates for when types of account come into scope and when first reporting must be completed.

The table below sets out the dates for each of the regimes.

  FATCA CDOT CRS DAC
         
Pre-existing financial accounts to be subjected to due diligence procedures are those in existence as at: 30 June 2014 30 June 2014 31 December 2015 31 December 2015
New financial accounts requiring self-certification by the customer are those opened on or after: 1 July 2014 1 July 2014 1 January 2016 1 January 2016
First reporting period ends on: 31 December 2014 31 December 2014 31 December 2016 31 December 2016
Information to be reported by financial institutions to HMRC in respect of the first reporting period on or before: 31 May 2015 31 May 2016[i] 31 May 2017 31 May 2017
Information to be exchanged by HMRC with partner jurisdictions on or before: 30 September 2015 30 September 2016 30 September 2017 30 September 2017

Under FATCA and CDOT due diligence checks on some pre-existing accounts have a deadline of 2 years after the regimes came into effect. The deadline for such checks is 30 June 2016, and the information is reportable to HMRC by 31 May 2017. Given this time period, HMRC will accept that the relevant due diligence checks have been completed on time if they are completed by 31 December 2016 and the information reported by 31 May 2017. This extension only applies to pre-exisitng accounts under FATCA and CDOT with a due diligence completion date of 30 June 2016.

Subsequent reporting periods ending on 31 December each year are reportable to HMRC by the 31 May next following for exchange by 30 September. Not all financial account information is reportable in the first reporting period. Details of what is to be reported under each regime and when can be found at:

IEIM400520 for FATCA

IEIM400540 for CDOT

IEIM400580 for DAC

 


[i] Reports for the period ending 31 December 2014 and the year ending 31 December 2015 are both reportable to HMRC in 2016.