https://v2.webnotes.in/tags/fatca-crs/Recent content in Fatca-Crs on WebNotesHugoen-INTue, 19 May 2026 00:00:00 +0000https://v2.webnotes.in/fatca-crs-onboarding/Tue, 19 May 2026 00:00:00 +0000https://v2.webnotes.in/fatca-crs-onboarding/<p><strong>FATCA (Foreign Account Tax Compliance Act)</strong> and <strong>CRS (Common Reporting Standard)</strong> are international tax-reporting frameworks that require Indian mutual fund AMCs to identify and report on tax-resident foreign investors. The frameworks affect mutual fund onboarding for non-resident investors and shape the <a href="https://v2.webnotes.in/us-canada-fatca-restricted-mutual-fund/">US/Canada FATCA-restricted</a> regime that limits investment access for certain NRIs.</p> <h2 id="fatca-framework">FATCA framework</h2> <h3 id="what-fatca-requires">What FATCA requires</h3> <ul> <li>US Foreign Account Tax Compliance Act.</li> <li>US-tax-resident investors at non-US financial institutions reported to US IRS.</li> <li>Compliance via Form W-9 (US persons) or W-8BEN (non-US persons).</li> <li>30% withholding penalty for non-compliance.</li> </ul> <h3 id="indian-amc-obligations">Indian AMC obligations</h3> <ul> <li>Collect FATCA declarations from all investors.</li> <li>Identify US-tax-resident investors.</li> <li>Report to Indian tax authorities, who share with US IRS.</li> <li>Document and audit-trail maintained.</li> </ul> <h2 id="crs-framework">CRS framework</h2> <h3 id="what-crs-requires">What CRS requires</h3> <ul> <li>OECD Common Reporting Standard.</li> <li>Tax-resident reporting across participating jurisdictions.</li> <li>Similar to FATCA but multi-country.</li> <li>India is CRS-compliant.</li> </ul> <h3 id="indian-amc-obligations-1">Indian AMC obligations</h3> <ul> <li>Collect tax-residency declarations.</li> <li>Identify tax-resident-other-country investors.</li> <li>Report to Indian tax authorities.</li> <li>India exchanges with CRS partner countries.</li> </ul> <h2 id="onboarding-requirements">Onboarding requirements</h2> <h3 id="mandatory-declarations">Mandatory declarations</h3> <p>Every Indian mutual fund investor must declare:</p>