9 Updates to this guidance

Last updated 13 December 2023

This AEOI guidance material is updated from time to time. The table below contains the updates to this guidance in chronological order and a description of significant updates or changes made:

Details of updates to this guidance
Date of update	Updates or changes made
April 2016	original publication
June 2016	7 – new content for transitional arrangements for exchange traded product issuers
September 2016	1.3 – new example of effect of the 'wider approach' on FATCA practices 2.1 – new content on the residence of RFIs that are trusts and the maintenance of accounts 3.6 – revised content on interests in Investment Entities 'regularly traded on an established securities market' 3.9 – new listing of Excluded Accounts 3.10 – new listing of retirement and pension accounts 3.11 – revised content on Escrow Accounts held by non-financial intermediaries 3.15 – new content on collateral and derivative arrangements – Custodial Accounts 4 – new introduction to Due Diligence chapter 4.2 – new content on alternative procedures and elections 4.3 – new content on treatment of New Accounts as Pre-existing Accounts and joint account holders opening a New Account 4.5 – new content on due diligence – Pre-existing Individual Accounts, Lower Value Accounts 4.6 – new content on due diligence – Pre-existing Individual Accounts, High Value Accounts 4.7 – new content on TINs and reasonableness of self-certifications for New Individual Accounts 4.8 – new content on due diligence – pre-existing entity account thresholds 4.9 – new content on due diligence – pre-existing entity accounts 4.10 – new content on due diligence – New Entity Accounts 4.11 – revised content on due diligence – settlors of trusts 4.12 – revised content on beneficiaries of trusts – Controlling Persons 4.14 – new content on validity and reasonableness of a self-certification 5.1 – new content on Reportable Accounts 5.2 – new content on Reportable Persons 5.3 – new content for reportable information for Reportable Accounts 5.4 – new content on account balance or value 5.5 – new content on Taxpayer Identification Numbers (TINs) and date of birth 5.6 – new content on closed accounts 5.7 – new content on undocumented accounts 5.8 – new content on identification of an account as reportable 5.12 – new content on payments to Non-Participating Financial Institutions – FATCA only 5.13 – new content on currency reporting and related issues 6 – new introduction to compliance chapter 6.1 – revised content on failure to obtain a self-certification – CRS 6.2 – new content on significant non-compliance – FATCA 6.3 – new content on collaboration on compliance and enforcement – CRS 6.4 – new content on anti-avoidance measures – CRS 7 – new section on transitional arrangements 9 – new table on updates to the AEOI guidance material in chronological order
April 2017	2.16 – new content on not-for-profit organisations as financial institutions 3.16 – new content on Financial Accounts maintained by not-for-profits 4.5 – revised content on due diligence for Lower Value Pre-existing Individual Accounts 4.7 – revised content on self-certifications for new accounts 4.9 – revised content on due diligence for pre-existing entity accounts 4.10 – revised content on due diligence for New Entity Accounts 4.14 – revised and new content on the validity and reasonableness of a self-certification 4.15 – new content on the validity of documentary evidence 4.16 – new content on finalising due diligence before reporting 4.17 – new content on changes in circumstances 4.18 – new content on the account balance aggregation rule 4.19 – new content on CRS participating jurisdictions 5.1 – revised content on Reportable Accounts 6.5 – new content on undocumented accounts compliance
July 2017	4.19 – new jurisdictions added to list of CRS participating jurisdictions
August 2017	2.1 – revised content on when a trust may be an Australian financial institution 4.19 – addition of Belize as a Participating Jurisdiction with effect from 7 August 2017
November 2017	2.3 – clarification of income attributable to holding financial assets 2.8 – new content on the 'managed by' test 4.11 – new content on settlors of trusts with Pre-existing Accounts 5.6 – new content on reporting of payments to closed accounts 6 – new content on record-keeping requirements 7.1 – new content on reporting of U.S. TINs in FATCA reporting
February 2018	4.19 – revised list of Participating Jurisdictions
November 2018	General revisions to reflect moving from initial implementation to ongoing obligations 2.15 – added guidance for new qualified credit card issuers 3.1 – new content for money transfer businesses 3.2 – new content for temporary overpayment of credit cards 3.5 – new content on equity interests in partnerships and trusts 3.6 – revised content to focus on meaning of Financial Account 4.11 – clarification of interaction between AML/KYC procedures and CRS due diligence 4.14 – new content on residence and citizenship investment schemes 5.5 – new content relating to hardship, and exceptional circumstances preventing access to TINs 8 – new glossary of common terms
March 2019	4.19 – revised list of Participating Jurisdictions 5.2 – new content relating to dual residents and tiebreaker rules
August 2019	removed FAQs, merged content with main guidance
February 2020	3.9 – removed Scholarship Plans from list of Excluded Accounts
April 2020	3.4.1 – new content relating to accounts created by placing agents 4.19 – updated content regarding CRS participating jurisdictions
August 2020	4.7 – new content to clarify the timing of account opening 4.7 – updated content regarding 'exceptional circumstances'
April 2021	2.9 – removed self-managed super funds and small APRA funds from the definition of non-reporting financial institution 3.4.1 – minor revision for 'placing agents' 3.9 – added accounts held by self-managed super funds and small APRA funds to list of Excluded Accounts 3.11 – clarified Escrow Accounts requirements 4.10 – clarified self-certification requirement for Account Holders who are not reportable persons 4.10 – correction to paragraph referencing 4.19 – updated content regarding CRS participating jurisdictions 8 – minor correction to Glossary
July 2021	3.9 clarified account exclusion for self-managed super funds and small APRA funds.
February 2023	4.19 – updated content regarding CRS participating jurisdictions
October 2023	4.9 - updated 'publicly available' information to remove the FATCA GIIN list.
December 2023	4.19 – updated content regarding CRS participating jurisdictions

QC48683