France updates Automatic Exchange of Information Guidance

On 4 March 2020, the French Tax Administration (“FTA”) released a revised version 2.3 of the Common Reporting Standard (“CRS”) technical guidance (Link-French). The guidance was updated to incorporate the newest information, which includes:

  • The addition of a provisional timetable for the 2020 reporting campaign. Tele-TD portal will be open for testing from 1 April 2020 with third party CRS declaration starting on 15 May 2020.

The deadline for CRS reporting will be 31 July 2020. Reports submitted after this deadline will be considered out of time but nevertheless be considered and forwarded by the FTA. The portal will close on 3 August 2020.

  • An update of the list of states and territories providing place of transmission of information (6.1).
  • Existence of discrepancies on second-stage controls level 1, 2, 9 and 11 between the test platform and the production platform (5.3.2).
  • Creation of second level control No. 23 (5.3.2).
  • Instructions on how to correct an error on an account holder’s ResCountryCode (4.3.1).

In addition, also on 4 March 2020, the French Tax Administration (“FTA”) released a revised version 4.0 of the Foreign Account Tax Compliance Act (“FATCA”) technical guidance (Link-French). The guidance was updated to incorporate the newest information, which includes:

  • The addition of a provisional timetable for the 2020 reporting campaign. Tele-TD portal will be open for testing from 1 April 2020 with third party FATCA declaration starting on 15 May 2020.

The deadline for FATCA reporting will be 31 July 2020. Reports submitted after this deadline will be considered out of time but nevertheless be considered and forwarded by the FTA. The portal will close on 3 August 2020. On 2 October 2020 Tele-TD portal will open again to process the FATCA reports.

Finally, also in March 2020, the French Tax Administration (“FTA”) released a Frequently Asked Questions document regarding self-certification (Link-French).

Remarks can be submitted to the FTA via email: bureau.cf1c@dgfip.finances.gouv.fr.

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