Common Reporting Standard & Country-by-Country Reporting

NOTICE OF UPDATED PORTAL USER GUIDE AND CRS COMPLIANCE REMINDERS 

2/9/2026

UPDATED PORTAL USER GUIDE

The Ministry of Finance wishes to notify Bermuda Common Reporting Standard (“CRS”) Reporting Financial Institutions (“RFIs”) and Country-by-Country Reporting (“CbCR”) Reporting Entities that the Bermuda Tax Information Reporting Portal User Guide has been updated to reflect the technical and functional enhancements implemented in December 2025.

The updated portal user guide can be accessed below:

REMINDER OF UPCOMING CRS FILING DEADLINES

The Ministry of Finance also wishes to remind Bermuda CRS RFIs of the following submission deadlines for the 2025 reporting year:

  1. All CRS Return filings (including nil and reportable account filings) must be submitted no later than May 31, 2026.
  2. The Annual CRS Compliance Certification Form must be submitted by all Bermuda RFIs and Trustee-Documented Trusts no later than September 30, 2026.

Penalties may apply for failure to submit the required filings by the deadlines noted.

OTHER CRS REPORTING REMINDERS

Bermuda RFIs are also reminded of the following key points regarding CRS compliance, which will be monitored. RFIs are encouraged to review the below requirements and proactively correct historically submitted CRS filings to ensure accuracy and completeness of the data reported and the system remains open to facilitate such corrections.

  1. Change of Primary Users: every reporting entity must ensure there is an active and contactable Primary User appointed at all times. If the current Primary User can no longer act in this role, reporting entities should promptly submit a Primary User Change Notice following the instructions contained in the Portal User Guide.
  2. Deactivation Requests – Cessation of Obligations: if a reporting entity no longer has reporting obligations, it must promptly request to be deactivated from the portal, following the instructions contained in the portal user guide. A deactivation request cannot be processed until all relevant filings are exchanged with partner jurisdictions.
  3. Reporting Undocumented Accounts: the OECD’s CRS requirements only permit accounts to be treated as undocumented in specific circumstances. The criteria for an account to be reported as undocumented can be found in subparagraphs B(5) and C(5) of Section III of the CRS. Accounts should not be reported as undocumented in any other circumstances, and RFIs must follow the CRS due diligence rules to determine how to treat accounts that do not meet the criteria outlined.
  4. Reporting Taxpayer Identification Numbers (TINs): the Taxpayer Identification Number (TIN) field for account holders and controlling persons is shown as optional in the CRS filing as there are valid scenarios where the TIN may not be available (e.g. the jurisdiction of tax residence does not issue TINs). However, this does not mean that it is optional to provide this information, and RFIs must ensure that TINs are included in the report in line with the due diligence requirements outlined in the CRS (including the requirement to use reasonable efforts to collect TINs of preexisting accounts that are not already in the RFI’s records). Otherwise, the RFI may receive an error notification from the Ministry or a partner jurisdiction requiring a correction, and the RFI may be subject to additional compliance reviews.
  5. Reporting Dates of Birth: similarly, the Date of Birth field for individual account holders and controlling persons is shown as optional in the CRS filing, however this does not mean that it is optional to provide this information, and RFIs must ensure that dates of birth are included in the report filed, in line with the due diligence requirements outlined in the CRS (including the requirement to use reasonable efforts to collect date of birth of preexisting accounts that are not already in the RFI’s records). The Ministry expects dates of birth to be submitted for all individuals and controlling persons and will follow-up to compel a correction where this is not the case.
  6. Reporting Addresses: while only the City and Country fields are marked mandatory in the OECD’s CRS XML schema, it is expected that full addresses are included for all account holders where available within the RFI’s systems or account holder documentation/self-certifications.
  7. Residence/Citizenship by Investment (RBI/CBI) Schemes: The OECD published a list of over 25 potential high-risk CBI/RBI schemes that can be misused to misrepresent an individual's jurisdiction(s) of tax residence and undermine the effective implementation of the CRS due diligence procedures. All Bermuda RFIs should take the outcome of the OECD's analysis of high-risk CBI/RBI schemes into account when performing their CRS due diligence obligations, such as opening a Financial Account for a new account holder. Further detail is available here: https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/residence-citizenship-by-investment/

 

Historical CRS Reportable Jurisdictions List


Historical CBC Reportable Jurisdictions List


Guidance Notes


Regulations


Renewal of FFI Agreement


Additional reading

Printer-friendly version