On or about 22 April 2019, the Inland Revenue Authority of Singapore (IRAS) has commenced Common Reporting Standard (CRS) Return submission.
All Reporting Singaporean Financial Institutions (SGFIs) must submit their Common Reporting Standard (CRS) returns, including nil returns (if applicable) by 31 May of the year following the calendar year to which the return relates. For example, CRS returns relating to calendar year 2018 must be submitted by 31 May 2019.
All CRS returns, including nil returns (if applicable), must be submitted electronically to IRAS via the “Submit CRS Return” e-Service. No paper returns will be accepted. A simplified process for submitting nil returns electronically is available via this e-Service.
A “Quick Guide to CRS Return Submission” has been prepared for Reporting SGFIs to get instructions on how to submit their CRS returns. Reporting SGFIs can submit their CRS returns using fillable PDF forms, if they do not wish to acquire a reporting tool to generate the CRS returns in XML format. Each fillable PDF form can however accommodate up to 40 account reports only. If more than one such form is used, each form must be submitted individually via the e-Service.
More information and the fillable PDF form can be found at IRAS’s website.
Source: IRAS, 23 April 2019