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FORM X1Self Certification Declaration Form for Controlling Person Please read before completing this form Regulations based on the OECD Common Reporting Standard (CRS) require Financial Institutions
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How to fill out crs self-certification form for

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How to fill out crs self-certification form for

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Step 1: Obtain the CRS self-certification form from the relevant authority or institution.
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Step 2: Fill out your personal information including your name, address, and tax identification number.
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Step 3: Provide details about your tax residence including the country where you are a tax resident and your tax identification number in that country.
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Step 4: Declare if you are a tax resident of any other countries.
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Step 5: Indicate whether you have any controlling persons or passive non-financial entities.
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Step 6: Sign and date the form to verify the accuracy of the information provided.
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Step 7: Submit the completed form to the authority or institution as per their instructions.

Who needs crs self-certification form for?

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The CRS self-certification form is needed by individuals or entities who have financial accounts or assets in foreign countries.
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This includes individuals who are tax residents of one country but hold financial accounts in another country.
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It also includes entities such as corporations or trusts that have financial assets or accounts in foreign jurisdictions.
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The CRS self-certification form is used to collect information from individuals and entities to determine their tax residency status and compliance with the Common Reporting Standard (CRS) for automatic exchange of financial account information.
Any individual or entity that is opening an account in a financial institution and is subject to CRS regulations is required to file the CRS self-certification form.
To fill out the CRS self-certification form, individuals and entities must provide their personal information, including name, address, date of birth, tax identification number, and information about their tax residency status.
The purpose of the CRS self-certification form is to ensure that financial institutions gather the necessary information to report to tax authorities, thereby promoting tax compliance and preventing tax evasion.
The information that must be reported includes the account holder's name, address, date of birth, tax identification number, and details regarding the account and its tax residency status.
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