UAE Ministry of Finance announces new reporting portal for FATCA and CRS

01 June, 2022

On 17 May 2022, the UAE Ministry of Finance announced the go-live of the new Foreign Account Tax Compliance Act (FATCA) and Common Reporting System (CRS) reporting portal.

All UAE Reporting Financial Institutions (“RFIs”) are required to register on the portal, which can be accessed through this link: https://fatcacrs.mof.gov.ae/

Please refer to the following key considerations for UAE RFIs with respect to registering and reporting on the portal for both FATCA and CRS purposes for calendar year 2021 data onwards.

With the 30 June 2022 reporting deadline for calendar year 2021 fast approaching, UAE RFIs are encouraged to ensure they are registered in this new system and able to submit returns.

All UAE RFIs must register on this new system, even if they had already been registered for reporting in previous FATCA and/or CRS reporting portals in the UAE.
Each UAE RFI must register at least one ‘maker’ and one ‘checker’ user, providing user details (including but not limited to email address, contact details), entity details (including but not limited to trade license number, country of incorporation) and other relevant documentation (including uploading a trade license and other documentation as required by your Regulatory or Licensing Authority).
The UAE RFI must provide its legal entity classification for FATCA and CRS purposes.
Once approved, the ‘maker’ user must submit the FATCA and/or CRS risk assessment and annual report (or nil return, where applicable) no later than 30 June, 2022.
The ‘checker’ user must approve the FATCA and/or CRS risk assessment and annual report (or nil return, where applicable) no later than 30 June, 2022, otherwise submissions will not be accepted by the authorities.

Should you have technical queries regarding the portal, the UAE Ministry of Finance has instructed users to contact the technical support team via email: servicedesk@atc.co.ae.