Advanced CRS Quiz

  1. Are death benefits of an insurance contract reportable?
No Yes Only if from an investment-linked policy

  1. Is a protector a controlling person of as trust
Yes No It depends on jurisdiction legislation

  1. What is debt interest in an investment entity?
Lien on asset to ensure payments Amount owed to creditor Amount owed by debtor

  1. Is a Central bank always a non-reporting Financial Institution?
Yes No Only if it doesn't undertake transactions with reportable persons

  1. Is a local telephone number an indicia the account is not reportable
Yes No Only if no self certification is available

  1. Can a trust be an active non-financial Entity?
Yes No Only in certain jurisdictions

  1. Is a Active NFE trust in Guam with an account in Jersey reportable?
No Yes Only if its controlling persons are resident in a partipating jurisdiction

  1. What is threshold for controlling persons of an entity?
Nil 25% More than 25%

  1. What amount is reported on closure of accounts?
No amount Nil Amount before closure

  1. If a non-financial entity is resident in same jurisdiction of Financial Institution, can it be reportable?
If controlling persons are resident in another participating jurisdiction Yes, always No

  1. Can a jurisdiction elect to treat Equity Interest in a trust the same as the controlling persons of a trust?
No Yes Only if there is no protector

  1. What information is reported by a depository FI which is not reported by any other FI?
Interest Interest and balance Balance

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