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  • Common Reporting Standard reporting

    Common Reporting Standard (CRS) reports must be lodged by 31 July each year in the approved CRS XML Schema format.

    Preparing the CRS report

    XML Schema

    From 1 January 2021, CRS reports must be created using the V2.0 CRS XML Schema and V3.0 of the guidance material. Up until this time, reports must be created using V1.0 of the CRS XML Schema.

    The changes to V2.0 of the CRS XML Schema are:

    • There is a mandatory schema version attribute.
    • The message type indicator is a validation element and is mandatory.
    • The minimum length of all string elements is one character  
      • for a validation element, a value must always be provided.
      • for an optional element, if there is no value, the element should be omitted.
    • The length of some string elements is limited – refer to the user guide.
    • The use of fractions of seconds is allowed in the timestamp element.
    • Controlling person information is not to be provided when the account holder is an Individual.
    • The ISO code country list has been updated.

    The CRS XML Schema and associated user guides are available on the OECD websiteExternal Link.

    Additional requirements for CRS XML files

    For compatibility with our systems, we have introduced some additional requirements for CRS XML files.

    MessageRefID and DocRefID elements

    In order to pass validation, all XML Schema files must contain MessageRefID and DocRefID elements with the following format:

    • AUReportingYearAUSendingCompanyINUniqueReference

    The components of the above format are:

    • Sending Country Code – must be, AU
    • Reporting Year (the year in which the data relates) – for example, 2017 for a report period ending 2017-12-31
    • Receiving Country Code – must be, AU
    • Sending Company IN – (in order of preference), ABN, GIIN or TFN
    • A unique string of characters the reporter can use to make the file unique – for example, UniqueReference.

    The MessageRefID and DocRefID must be unique in space and time.

    The Sending Company IN and Reporting FI elements must be identical in the report.

    One CRS report per reporting entity

    The lodgment of CRS reports will be limited to one reporting entity per report. The report should contain all the entity's reportable accounts.

    Reporting details for trusts

    If the reporting financial institution (RFI) is a trust the ReportingFI element must contain the details of the trust including the trust name, address and TIN (TFN or ABN) as opposed to the trustee. This ensures that the record of lodgment is correctly recorded against the trust.

    Previous updates to CRS reporting requirements

    For information on past CRS reporting updates see CRS for reporters and digital service providersExternal Link.

    Nil reports

    There is no requirement for RFIs to lodge a nil CRS report. However, lodging a nil report will help us monitor CRS compliance and may reduce the need for queries.

    Next steps:

    Note: If you are generating a nil report from internal software ensure you use CRS703 in the MessageTypeIndic field.

    Testing

    If you are producing a CRS XML file in-house you can lodge a test file via Online services for agents or the Business Portal. Ensure you select the lodgment type as a test and a validation report will be produced for your review. This function for V2.0 of the CRS XML Schema will be available from 1 January 2021.

    We have a test environment available for digital service providers to test their software. The test environment can be accessed via the test facilityExternal Link. Developers will need to register with the Digital Partnership Office (DPO) to gain access to the test environment.

    If you encounter any issues with registration or the test environment:

    CRS Small Reporter Tool

    We have developed a CRS Small Reporter Tool (SRT) to allow small RFIs with less than 50 reportable accounts to download and complete an Excel spreadsheet.

    The spreadsheet will convert the information into the required XML Schema format.

    This can then be lodged through Online services for agents or the Business Portal. A nil report can also be generated if the RFI has no reportable accounts.

    CRS SRT version 1.2 must be used for lodgments up to 31 December 2020. After this date, CRS SRT version 1.2 will not be accepted by our systems. The updated SRT that will conform to V2.0 of the CRS XML Schema will be available in early 2021.

    Note: Ensure you have read the user guide before using the SRT.

    Next steps:

    Due date for the CRS report

    Reports from Australian RFIs include data from January to December and are due annually, by 31 July in the following year. Applying for an extension of time

    If you are unable to lodge your CRS report by 31 July, you can request an extension of time using the mail option in Online services for agents or the Business Portal. To apply select:

    • a new message
    • the topic Lodge report
    • the subject Common Reporting Standard (CRS) extension of time.

    The message should include:

    • the ABN, TFN or GIIN of the RFI
    • the name of the RFI
    • your name and daytime phone number
    • the reasons for the request to extend time to lodge
    • the date by which you will be able to lodge the CRS report.

    How to lodge

    You can lodge your CRS report online through any of the following:

    • Online services for agents
    • the Business Portal
    • CRS enabled business or accounting software.
    Log in to Online services for agentsLog in to the Business Portal

    Enquiries after lodgment

    Validation of CRS reports is a three step process. A successful online lodgment may still result in follow up enquiries.

    Following lodgment, further validation checks on CRS reports will be conducted in our data hub and by our international partner jurisdictions.

    We will attempt to bundle together enquiries from all our international partners, however, some may still occur on an ad hoc basis.

    We advise reporters not to archive CRS lodgment data for at least 12 months from the lodgment due date.

    CRS news and information

    You can subscribe to our digital service providers news services to receive the latest CRS information through newsletters, alerts and emails.

    If you have any further questions about the CRS, contact the CRS project team.

    See also:

    Last modified: 20 Nov 2020QC 54580