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HMRC internal manual

International Exchange of Information Manual

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Reportable Information: Account Ceases to be Reportable

Reportable Information: Account Ceases to be Reportable

If, as a result of a change of circumstance, an Account Holder ceases to be a Reportable Person [see IEIM402010] then the account will cease to be a Reportable Account in the year in which the change of circumstance is identified by the Reporting Financial Institution.

As reporting is based on the status of accounts in existence at the end of the reportable period such accounts will not be reportable for the period in which the change of circumstance occurs. This is different to the reporting required when an account held by a Reportable Person is closed during a reportable period [see IEIM400520 for FATCA, IEIM400540 for CDOT, IEIM400580 for DAC/CRS].