OECD Releases Second Edition of CRS Guidance

Gerry Nelligan
April 3, 2017

The OECD has recently put out a new edition of the Standard for Automatic Exchange of Financial Account Information. This text is sometimes referred to as the “purple book.” The OECD explains that the update was made to give more clarity to the process of submitting corrected returns. In that vein, the OECD updated the information in the Common Reporting Standard User Guide, or the XML User Guide, contained in Annex 3. The Annex begins on page 230.

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Author

Gerry Nelligan

Gerry Nelligan is a Regulatory Analysis Supervisor at Sovos, leading a team of counsels covering information reporting, including 10-Series IRS reporting, Affordable Care Act (ACA) reporting and Automatic Exchange of Information (AEOI). Gerry received his J.D. from Suffolk University Law School and his B.A. from Providence College. He is a licensed attorney in the state of Massachusetts.
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