UK financial institutions report FATCA and CRS data to HMRC under the UK's automatic exchange of information (AEOI) framework. Novus automates the full submission process — from data ingestion to HMRC-compliant XML.
UK reporting requirements
- Reporting authority: HMRC (HM Revenue & Customs)
- Submission channel: HMRC AEOI online service
- Filing deadline: 31 May for the previous calendar year (FATCA and CRS)
- FATCA model: Model 1 IGA — UK FIs report to HMRC, which exchanges with the IRS
- Crown Dependencies: UK CDOT applies to Gibraltar, Guernsey, Isle of Man, and Jersey
UK-specific reporting rules
- Reporting FIs must notify individual reportable persons that their information will be reported to HMRC.
- Information may be transferred to the government of another territory under the relevant exchange agreement.
- UK CDOT jurisdictions report to their local authority, which exchanges with HMRC.
- Nil returns are accepted by HMRC.
CRS 2.0 in the UK
The UK has committed to adopting CRS 2.0 in alignment with the OECD framework. Reporting FIs should plan for the transition to CRS 3.0 schema ahead of the published deadline.
How Novus helps
- Generate HMRC-compliant XML from your source data.
- Validate against UK and OECD schemas before submission.
- Support both FATCA and CRS in a single workflow.
- Handle CDOT reporting for Crown Dependencies.
- TIN validation against UK and OECD country rules.
Related jurisdictions
Frequently asked questions
Which portal do UK FIs use for FATCA and CRS?
HMRC's AEOI online service. FIs must first register with HMRC and obtain a reporting FI identifier.
What is the UK FATCA/CRS deadline?
31 May each year for both FATCA and CRS returns, covering the previous calendar year.
What is CDOT?
CDOT (Crown Dependencies and Overseas Territories) refers to the UK's arrangements for automatic exchange with Gibraltar, Guernsey, Isle of Man, and Jersey. These jurisdictions have their own reporting authorities and exchange information with HMRC.
Does the UK use Model 1 or Model 2 FATCA?
The UK operates under Model 1 IGA. UK FIs report to HMRC, which transmits information to the IRS.