HMRC publishes updates to International Exchange of Information Manual

On 12 April 2019, Her Majesty’s Revenue & Customs (“HMRC”) published updates to its “International Exchange of Information Manual” (“EoI Manual”) (Link). In addition to several formatting changes, the primary updates were made within the sections:

  • “Due Diligence: Pre-Existing Individual Accounts: Higher Value Accounts: Undocumented Accounts” (Further clarification of undocumented account) (Link).
  • “Due Diligence: Pre-Existing Individual Accounts: Lower Value Accounts: Hold Mail or In-Care-Of Address Only” (Further clarification on the treatment of accounts with in-care-of addresses or hold mail instructions for FATCA and CRS purposes) (Link).
  • “Due Diligence: Pre-Existing Individual Accounts: Higher Value Accounts: Hold Mail or In-Care-Of Address Only” (Further clarification on the treatment of accounts with in-care-of addresses or hold mail instructions for FATCA and CRS purposes) (Link).

The EoI Manual now includes contact information to a newly installed Automatic Exchange of Information (“AEOI”) helpline. Representatives of financial institutions who need help with the AEOI, submission of AEOI returns, etc. can contact the helpline (Link).

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