9 Updates to this guidance

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

Last modified: 22 Feb 2023QC 48683