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HMRC internal manual

International Exchange of Information Manual

Financial Accounts: Reportable Account

Financial Accounts: Reportable Account

Once a Financial Institution has identified the financial accounts it maintains it needs to review those accounts to identify whether any of them are Reportable Accounts as defined in any of the automatic exchange agreements. If identified as a Reportable Account it must be reported to HMRC.

A Reportable Account is an account held by one or more Reportable Persons [see IEIM402010] or by a Passive NFE [see IEIM404040] with one or more Controlling Persons [see IEIM403400] that is a Reportable Person.