Bell Rock glossary
Common Reporting Standard
The OECD global automatic exchange of financial account information, under which Cayman entities identify and report account holders' tax residences.
The Common Reporting Standard (CRS) is the OECD's global framework for the automatic exchange of financial account information between participating jurisdictions. Cayman financial institutions must identify the tax residence of account holders and controlling persons, maintain written policies and procedures, and file annual CRS reports with the Cayman Tax Information Authority for onward exchange. CRS applies more broadly than FATCA because it covers all reportable jurisdictions rather than only the United States, and the two regimes are typically managed together as part of a fund's ongoing compliance.
Related guidance
Suspicious Activity Report · Proliferation Financing
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