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Guidance for Financial Institutions

This Guidance is intended to aid financial institutions in complying with their obligations under Part 8A of the Inland Revenue Ordinance (Cap. 112). It contains the Department’s views on the due diligence procedures required by the Common Reporting Standard of the Organisation for Economic Co-operation and Development (OECD). While every effort is made to ensure that the information given in this Guidance is accurate, it is not a legal document. It is also important for financial institutions to make reference to the materials published by the OECD at the Automatic Exchange Portal.

 

Guidance for Financial Institutions
 Table of Contents
Chapter 1 Background
Chapter 2 Overview of Required Information
Chapter 3 Reporting Financial Institutions (Updated on 4 September 2017)
Chapter 4 Non-reporting Financial Institutions
Chapter 5 Financial Accounts
Chapter 6 Excluded Accounts
Chapter 7 Person Who Acts for a Non-corporate Financial Institution
Chapter 8 Due Diligence: General Requirements (Updated on 14 July 2017)
Chapter 9 Due Diligence: Pre-existing Individual Accounts (Updated on 4 September 2017)
Chapter 10 Due Diligence: New Individual Accounts (Updated on 7 November 2017)
Chapter 11 Due Diligence: Pre-existing Entity Accounts (Updated on 10 April 2017)
Chapter 12 Due Diligence: New Entity Accounts (Updated on 10 April 2017)
Chapter 13 Due Diligence: Investment Entity with Regularly Traded Securities
Chapter 14 Due Diligence: Special Due Diligence Rules
Chapter 15 Required Information
Chapter 16 Collective Investment Scheme
Chapter 17 Treatment of Trusts
Chapter 18 Miscellaneous
  Abbreviations