Fatca/crs

As per RBI directives, its to be revised as per new guidelines. Fatca/CRS can be filled online, but for KYC IPV is must.

Thanks for the reply.

Do the existing accounts opened before 31st December 2015 needs to file FATCA/CRS? I am based in Europe and have NRO Account in India which was opened before 31st of December 2015 and as per the CBDT guideline, accounts opened before this date for CRS purpose need not to be reported.

An extract from RBI notification: RBI/2015-16/165
DBR.AML.BC.No.36/14.01.001/2015-16

The alternate procedure prescribed for identification of US Reportable Accounts in Rule 114H (8) will be applicable for accounts opened from July 1, 2014 to August 31, 2015 and will not be applicable for accounts opened after September 1, 2015.

link: https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10005&Mode=0

For complete guidence note refer: https://www.incometaxindia.gov.in/news/guidance-note-on-fatca-and-crs-may-2016.pdf