CRS – FundBank (Europe) S.A.

The Common Reporting Standard (CRS) is a standard for the automatic exchange of financial account information developed by the OECD, transposed into Luxembourg law by the law of 18 December 2015 on the Common Reporting Standard (CRS). The objective is tax transparency through the automatic exchange of information relating to financial accounts in tax matters with the Member States of the European Union and the other partner jurisdictions of Luxembourg.

This is a mandatory international exchange of information between competent tax administrations concerning:

financial accounts held with Financial Institutions in Luxembourg by residents for tax purposes of CRS Participating Jurisdictions;
on financial accounts held with Financial Institutions in CRS Participating Jurisdictions by Luxembourg residents for tax purposes.

The CRS requires Financial Institutions to identify their customers and to transmit to the tax authorities information concerning the identity of each person who is a tax resident of a Reportable Jurisdiction, the account number, the account balance and the related financial income.

The Bank has drawn up a self certification to be completed at the onboarding stage. For any further questions, please contact your Client Relationship Manager.