CRS Update History

Date

What's new 
1 February 2021The CRS registration deadline for an entity that became a Reporting SGFI between 1 January 2020 and 31 December 2020 (both dates inclusive) is 31 March 2021. Such Reporting SGFIs are reminded to apply for CRS registration by 31 March 2021.
1 February 2021
Reminder: CRS XML Schema Version 2.0 has come into effect from 1 February 2021. All new, nil, corrected or deletion CRS Returns in XML format, including returns relating to Reporting Years 2017 to 2019, must be formatted and submitted using the CRS XML Schema Version 2.0 with effect from 1 February 2021.

Please refer to the CRS Data Format Section for the CRS XML Schema Version 2.0 and IRAS XML Schema User Guide (Third Edition) and updated List of IRAS CRS File and Record Level Errors.

Reporting SGFIs that intend to submit their CRS returns using Fillable PDF forms must use the CRS Fillable PDF Form Version 2.0 with effect from 1 February 2021. The CRS Fillable PDF Form Version 2.0 is available here (PDF, 3,494KB).

28 August 2020IRAS CRS FAQs (PDF, 488KB) document updated: FAQs C.14 and D.7 were added, and FAQ H.2 was removed.
19 August 2020 CRS XML Schema Version 2.0 (Effective from 1 February 2021)
 
IRAS will adopt the CRS XML Schema Version 2.0 released by OECD with effect from 1 February 2021. All new, nil, corrected or deletion CRS Returns in XML format, including returns relating to Reporting Years 2017 to 2019, must be formatted and submitted using the CRS XML Schema Version 2.0 with effect from 1 February 2021.


To ensure a smooth transition to the new Schema, IRAS will not be accepting CRS Returns submitted between 25 January 2021 and 31 January 2021. IRAS will reject any CRS Returns submitted during this period.
Please refer to the CRS Data Format Section for the CRS XML Schema Version 2.0 and IRAS XML Schema User Guide (Third Edition).

15 May 2020

Consistent with international practices to help financial institutions in light of the COVID-19 situation, IRAS is automatically extending the CRS filing deadline for Reporting Year 2019 to 31 Aug 2020. We encourage Reporting SGFIs to submit their CRS return(s) by 15 Aug 2020 to allow sufficient time to resolve any unexpected issues.

Reporting SGFIs that can file their CRS return(s) earlier by 31 May 2020 should continue to do so. 

1 April 2020 CRS Return Filing for the Reporting Year 2019 will commence on 20 April 2020. All Reporting SGFIs must submit CRS return(s) to IRAS, setting out the required information in relation to every Reportable Account that was maintained in Calendar Year 2019, by 31 May 2020.
We encourage Reporting SGFIs to submit their CRS return(s) by 15 May 2020 to allow sufficient time to resolve any unexpected issues.
Please refer to the CRS Filing section for more information.
11 February 2020
List of Reportable Jurisdictions (PDF, 464KB) for 2019 CRS reporting published.
Reporting SGFIs are to submit 2019 CRS information by 31 May 2020
11 February 2020
List of Participating Jurisdictions (PDF, 116 KB) updated: The updated list will take effect from 12 February 2020.
11 February 2020 The CRS registration deadline for an entity that became a Reporting SGFI between 1 January 2019 and 31 December 2019 (both dates inclusive) is 31 March 2020. Such Reporting SGFIs are reminded to apply for CRS registration by 31 March 2020.
23 July 2019 New CRS Compliance section published.
More information is available here.
23 July 2019  First edition of CRS Compliance Guidelines e-Tax Guide published.
The IRAS CRS Compliance Guidelines e-Tax Guide is available here (PDF, 1,145KB).
23 July 2019 First edition of CRS e-Tax Guide published.
The IRAS CRS e-Tax Guide is available here (PDF, 1702KB).
22 April 2019 Reporting SGFIs may start submitting their CRS returns for Reporting Year 2018.
More information can be found  here
22 April 2019 IRAS CRS FAQs (PDF, 899KB) document updated: updates were made to FAQs C.6, G.1 and G.2, and a new FAQ F.10 was added.
22 April 2019 IRAS CRS Registration FAQs (PDF, 601KB) document updated: updates were made to FAQs 7, 8 and 15.
20 March 2019 Entities can use the CRS Entity Classification self-review tool (ZIP, 191KB) to determine their CRS entity classification, and check if they are required to register for CRS. 
6 March 2019 List of Reportable Jurisdictions (PDF, 483KB) for 2018 CRS reporting updated.
28 February 2019
List of Reportable Jurisdictions (PDF, 477KB) for 2018 CRS reporting published: Reporting SGFIs are to submit 2018 CRS information by 31 May 2019.
28 February 2019 List of Participating Jurisdictions (PDF, 352KB) updated: The updated list will take effect from 1 March 2019.
31 August 2018  From 1 September 2018, CorpPass will be the only login method for online corporate transactions with the Government. You must first be authorised via CorpPass before you can log in to AEOI e-Services via myTax Portal. Follow the step-by-step guideson how to set up CorpPass. 
25 April 2018 

Reporting SGFIs may start submitting their CRS returns for Reporting Year 2017.

More information can be found here
25 April 2018  A Quick Guide to CRS Return Submission has been prepared for Reporting SGFIs to get instructions on how to submit their CRS returns. 
9 April 2018  OECD CRS Implementation Handbook - 2nd edition of the Handbook has been published
9 April 2018  List of Reportable Jurisdictions for 2017 CRS reporting updated: Reporting SGFIs are to submit CRS information for the new jurisdictions added to the list by 31 August 2018. 
21 March 2018 

Part B of the XML Schema User Guide (PDF, 2,031KB) has been updated.

The list of IRAS' CRS File and Record Level Errors is available here. 
27 February 2018  Notice issued to Financial Institutions on CRS Registration (PDF, 142KB) - IRAS has issued a notice to all FIs in Singapore reminding them of the CRS registration obligation. 
27 February 2018  A Quick Guide to CRS Registration has been prepared for entities to check if they are required to register and to get instructions on how to register. 
13 February 2018 

Reporting SGFIs can now authorize their staff and/or Third Party to access the new AEOI e-Services. A Quick Guide to the newly launched e-Services can be found here.

More information on the AEOI e-Services can be found here.

The "Submit CRS Return" module for Reporting SGFIs to submit their CRS Returns for Reporting Year 2017 will be launched in the second half of April 2018 (updated on 21 March 2018). 
12 January 2018  List of Reportable Jurisdictions for 2017 CRS reporting published: Reporting SGFIs are to submit CRS information for these jurisdictions by 31 May 2018.  
26 December 2017  List of Participating Jurisdictions updated: The updated list will take effect from 1 January 2018.   
24 November 2017 An entity that is or becomes a Reporting SGFI at any time between 1 January 2017 and 31 December 2017 (both dates inclusive) are reminded to apply for CRS registration by 31 March 2018. Reporting SGFIs are encouraged to apply for CRS registration as early as possible to avoid the last minute rush. A failure to comply with the registration requirement is an offence under the CRS Regulations.  
24 November 2017  IRAS CRS Registration FAQs (PDF, 370KB) document updated: updates were made to FAQs 5, 6, 7, 8, 9, 10, 13 and 14.    
2 November 2017  IRAS CRS FAQs document updated: update was made to FAQ E.8. 
13 October 2017

The first edition of the finalised XML Schema User Guide for CRS Return is available here.

The Summary of Responses to the common public feedback received on the draft User Guide is available here (PDF, 291KB).   
13 October 2017  IRAS CRS FAQs document updated: update was made to FAQ C.2. 
22 September 2017  New exchange relationships established under the CRS MCAA.   
31 August 2017 

Reporting SGFIs can now submit an application to IRAS for CRS Registration via the Apply for CRS Registration e-Service.

More information on CRS registration requirements can be found here.    
25 August 2017

IRAS is inviting public feedback on the draft IRAS CRS e-Tax Guide.

The public consultation will be from 25 August to 25 September 2017.

More information can be found here
25 August 2017 IRAS CRS FAQs document updated: updates were made to FAQs E.23 and F.1.  
18 August 2017

Reporting SGFIs can submit an application for CRS Registration from 31 August 2017.

An entity that is or becomes a Reporting SGFI at any time between 1 January 2017 and 31 December 2017 (both dates inclusive) must apply for CRS Registration by 31 March 2018.

More information can be found here
18 July 2017 IRAS CRS FAQs document updated: updates were made to FAQs B.5, C.8, E.11A and E.23. 
17 July 2017 Singapore and Switzerland Sign Agreement for Automatic Exchange of Financial Account Information. 
22 June 2017 Singapore signs Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information. 
12 June 2017

IRAS is inviting public feedback on the draft IRAS CRS Return XML Schema User Guide (“draft User Guide”). This draft User Guide explains the information required to be included in each CRS data element of the XML Schema when reporting to IRAS.

The public consultation will be from 12 June 2017 to 12 July 2017.

More information can be found here.  
7 June 2017

The Competent Authority Agreements for CRS with Denmark, Estonia, Lithuania and New Zealand entered into force on 5 June 2017.

With the above, the respective jurisdictions will be regarded as “Reportable Jurisdictions”. SGFIs will have to transmit to IRAS the financial account information of accounts held by persons that are tax residents of the above Reportable Jurisdictions, with the first submission due by 31 May 2018.  
4 May 2017  Singapore and Spain Sign Agreement for Automatic Exchange of Financial Account Information  
10 April 2017 

Singapore and Guernsey Sign Agreement for Automatic Exchange of Financial Account Information.

10 April 2017 

A CRS brochure has been prepared to help account holders understand the salient features of CRS and how CRS affects them. SGFIs may print the IRAS CRS brochure for account holders’ information.

 

The IRAS CRS brochure can be found here.

10 April 2017  IRAS CRS FAQs document updated: updates were made to FAQs C.13, E.21 and E.22. A table setting out the past updates to the document was added. 
4 April 2017 

The Income Tax (International Tax Compliance Agreement) (Common Reporting Standard) Regulations 2016 “CRS Regulations” have been amended and the amendments came into effect on 4 April 2017.

The amendments to the CRS Regulations can be found here
27 March 2017 
Singapore and France Sign Agreement for Automatic Exchange of Financial Account Information  
15 March 2017
Singapore and Denmark Sign Agreement for Automatic Exchange of Financial Account Information
13 March 2017
Singapore Signs Agreements with Belgium and Luxembourg for Automatic Exchange of Financial Account Information
27 February 2017 
The Competent Authority Agreements for CRS with Australia, Korea, Italy, Canada and Latvia entered into force on 27 February 2017. 

With the above, the respective jurisdictions will be regarded as "Reportable Jurisdictions". SGFIs will have to transmit to IRAS the financial account information of accounts held by persons that are tax residents of the above Reportable Jurisdictions, with the first submission due by 31 May 2018.

24 February 2017
Singapore and Lithuania Sign Agreement for Automatic Exchange of Financial Account Information
15 February 2017
Singapore and Estonia Sign Agreement for Automatic Exchange of Financial Account Information  
15 February 2017
IRAS CRS FAQs document updated: updates were made to FAQs A.1, C.8, D.1 and E.3, and 2 new FAQs (E.20 and E.21) were added.
31 January 2017
The Competent Authority Agreements for CRS with United Kingdom, Japan, South Africa, Norway, Finland, Netherlands, Iceland, Malta and Ireland entered into force on 31 January 2017.

With the above, the respective jurisdictions will be regarded as "Reportable Jurisdictions". SGFIs will have to transmit to IRAS the financial account information of accounts held by persons that are tax residents of the above Reportable Jurisdictions, with the first submission due by 31 May 2018.

31 January 2017
A media release on the Common Reporting Standard and how account holders may be affected was issued on 6 January 2017.

The media release can be found here.

30 December 2016 
Notice issued to Financial Institutions on Implementation of the Common Reporting Standard ("CRS") with Effect from 1 January 2017 (PDF, 482KB)
23 December 2016
Singapore and New Zealand Sign Agreement for Automatic Exchange of Financial Account Information
IRAS FAQs updated. Regulation 11(2) (j) of the CRS Regulations will be amended to align it with the OECD CRS Commentary  
21 December 2016 Singapore signs Agreements with Ireland and Latvia for Automatic Exchange of Financial Account Information 
19 December 2016 Singapore and Malta Sign Agreement for Automatic Exchange of Financial Account Information
15 December 2016  Singapore and Iceland Sign Agreement for Automatic Exchange of Financial Account Information 
8 December 2016 Enactment of the Income Tax (International Tax Compliance Agreement) (Common Reporting Standard) Regulations 2016 
8 December 2016 Singapore and Netherlands Sign Agreement for Automatic Exchange of Financial Account Information 
23 November 2016  Singapore and Finland Sign Agreement for Automatic Exchange of Financial Account Information 
16 November 2016  Singapore and Canada Sign Agreement for Automatic Exchange of Financial Account Information
8 November 2016  Singapore and Italy Sign Agreement for Automatic Exchange of Financial Account Information