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ANNUAL REPORTFISCAL YEAR2022ANNUAL REPORT Congressional Research Service Library of Congress FISCAL YEAR 2022To the Joint Committee on the Library United States Congress Pursuant to Section 321 Public
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Gather all relevant financial information for the fiscal year 2022.
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The CRS Annual Report for FY2022 is a compliance document that outlines the tax obligations and income report requirements for financial institutions under the Common Reporting Standard (CRS).
Financial institutions that are classified as reporting financial institutions under the CRS are required to file the CRS Annual Report for FY2022.
To fill out the CRS Annual Report for FY2022, institutions must collect required information on reportable accounts, including account holder details and financial information, and report this data using the designated format and fields specified by the relevant tax authority.
The purpose of the CRS Annual Report for FY2022 is to ensure transparency in international financial transactions and to prevent tax evasion by providing tax authorities with relevant information on financial accounts held by foreign tax residents.
The information that must be reported includes account holder names, addresses, tax identification numbers, account balances, and other financial details as stipulated by the CRS guidelines.
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