International Exchange of Information Manual

IEIM402655 - Due Diligence: Pre-Existing Accounts: Introduction

Pre-Existing Accounts: Introduction

CRS 

For CRS purposes a Pre-existing Account is an account maintained by a Financial Institution as at 31 December 2015, or if the account is treated as a Financial Account solely by virtue of CRS2.0, an account maintained by a Financial Institution as at 31 December 2025. 

In some circumstances (see IEIM403125), accounts opened after these dates can also be categorised as Pre-existing Accounts.  Accounts that are categorised as Pre-existing Accounts are subject to Pre-existing Account due diligence and under CRS2.0 should be reported as Pre-existing Accounts. 

FATCA 

For FATCA purposes, a Pre-existing Account is an account maintained by a Financial Institution as at 30 June 2014.