The ACPR has granted banks flexibility on the deadlines for submitting certain regulatory reports, and some countries have shifted their deadlines for FATCA and CRS reporting.
Some of the “SURFI” statements and narrative reports, such as the report on internal control, due from all credit institutions supervised by the ACPR, have been postponed. For some banks, the ACPR is also showing flexibility with regard to COREP and FINREP statements.
With regard to tax transparency, some countries have announced the postponement of FATCA and CRS reporting, such as Malta, Bermuda, Russia and Liechtenstein.
For CRS
As of May 28, 2020, here is a status of reporting deadline extensions in the various countries:
Please do not hesitate to contact us if you wish to be informed about other countries:
For FATCA
REPORTING
In response to current events linked to the COVID-19 virus, the IRS has announced an extension to the deadline for 8966 reporting.
Reporting, originally due by March 31, 2020, is now expected by July 15, 2020 at the latest.
This extension is automatic and does not require the submission of a Form 8809-I. For more information, see the IRS FATCA FAQ (Section “Reporting” – Q4).
Note: This message applies only to Reporting Model 2 FFIs and PFFIs. The deadlines applicable to Reporting Model 1 FFIs are defined by their respective jurisdiction of residence.
CERTIFICATIONS
In response to current events linked to the COVID-19 virus, the IRS has announced an extension of the deadline for certifications.
Certifications originally due on July 01, 2020, are now expected by December 15, 2020 at the latest.
This extension is automatic and does not require an extension request to the IRS.
The new due date will be automatically displayed in IDES.
For more information, see the IRS FATCA FAQ (Section “FATCA Certification” – Q21).
For the Autorité de Contrôle Prudentiel et de Résolution (ACPR)
All deadline extensions are available here: More flexible remittance procedures
Here is the list of extensions published by the ACPR:
For the Banque de France
Institutions that have benefited from a derogation concerning AnaCrédit reporting and whose 1st submission was due in October 2020, additional deadlines may be granted on a case-by-case basis by contacting the Banque de France at anacredit@banque-france.fr.
For the FGDR
The FGDR, for its part, indicates that the regular control campaign suspended last March could be resumed for any establishment able to produce the VUC and RCD files without internal constraints.
On simple request to the following address vuc@garantiedesdepots.fr, establishments can volunteer to schedule their next regular inspection.
Establishments experiencing difficulties in producing files at present are invited, for information purposes, to specify the constraints encountered.
We would like to point out that establishments scheduled for Q4 2020 are not affected by this measure.