UAE FATCA & CRS Compliance – Key Deadlines & Action Items

UAE regulatory authorities, including DIFC and ADGM, have issued reminders for financial Institutions and certain non-Financial Entities to comply with their FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) obligations for calendar year 2024.

Key Deadlines & Compliance Requirements

All Reporting Financial Institutions must:

• Register on the FATCA / CRS portal, submit FATCA / CRS reports (including nil returns, if applicable)
• Submit Risk-Based Assessment (RBA) questionnaire (required annually, even if previously submitted)

Non-Financial Entities may still need to register on the FATCA / CRS portal to confirm their FATCA / CRS classification

Need Help? Act Now!

With the 30 June 2025 deadline approaching, non-compliance risks penalties and regulatory scrutiny.

How BaOne Can Assist?

BaOne’s Operational Tax Team provides end-to-end FATCA / CRS compliance support, including:

• Legal Entity Classification — determine FATCA / CRS status and applicable obligations
• Registration & Reporting — assist with portal registration, reporting data preparation
• Data Validation & TIN Solutions — ensure data accuracy and compliance with Tax Identification Number (TIN) formatting rules
• Health Check & Gap Analysis — review existing policies, procedures, and systems against regulatory requirements
• Tailored Training — customized sessions on FATCA / CRS compliance, covering onboarding, due diligence, and reporting procedures