ATO Automatic Exchange of Information (AEOI)

This page contains information and artefacts for Software Developers who have or are interested in developing web services for obligations under Australia’s participation in Automatic Exchange of Information (AEOI) regimes concerning the automatic exchange of financial account information with foreign jurisdictions.

The web services developed to date are:

• Common Reporting Standard (CRS)
• Foreign Account Tax Compliance Act (FATCA)

The ATO provides a number of common artefacts and reference documents to support DSPs (such as the ATO Service Registry and the ATO Service Support Versioning Strategy). These can be found here.

Common Reporting Standard (CRS)

The Common Reporting Standard (CRS) is the single global standard for the collection, reporting and exchange of financial account information on foreign tax residents. Under it, banks and other financial institutions will collect and report to us financial account information on non-residents. The CRS legislation received Royal Assent on 18 March 2016 and came into effect on 1 July 2017.

Please visit the CRS page for more information.

CRS.0001 (2017)

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Foreign Account Tax Compliance Act (FATCA)

The Foreign Account Tax Compliance Act (FATCA) is United States (US) legislation aimed at improving compliance with US tax laws. FATCA imposes certain due diligence and reporting obligations on Australian financial institutions (AFIs), and those of other non-US countries, to report US citizen or US tax-resident Account Holders to the US Internal Revenue Service (IRS). Australia and the US signed an intergovernmental agreement to implement FATCA (the FATCA Agreement). Under the FATCA Agreement, non-exempt AFIs need to register with the IRS and report to the ATO each year about certain Financial Accounts held with them by either: US citizens, US tax residents, specified US entities established in the US or controlled by US persons.

Please visit the FATCA page for more information.

FATCA.0001 (2017)

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