Common Reporting Standards (CRS)
The Common Reporting Standard (CRS) was introduced on 1 January 2016 to help fight against tax evasion and protect the integrity of tax systems worldwide.
Under the CRS, Financial Institutions are required to determine where their customers may be paying tax (often referred to as where you are ’tax resident’).
Whether you are an individual customer or you have a business relationship with us, the CRS may affect you. The impact will depend on factors such as:
If you are tax resident outside the country where you bank then we will share information about you and your accounts with our local tax authority, which may then be shared with the tax authority where you are tax resident.
We will always look to use the information that you have already provided us to determine where you are tax resident. However, where such information suggests you are tax resident in a country other than the country where your account is maintained, we may ask you for additional documentation to confirm your tax residence.
If the information we hold on your tax residence is not current, please update our records by completing the Tax Residency Form. Please note, to complete this you will also need to upload additional documentation. Further information on this can be found in Instructions for account remediation.
Alternatively, If you are unable to upload documents, please print and complete sections A, C and D of the Self-Certification Form and return to us with a copy of one of the supporting documents to: RETAIL FATCA, SANTANDER HOUSE, 9 NELSON STREET, BRADFORD, GREAT BRITAIN, BD1 5AN
Please refer to the Frequently Asked Questions.
If you have any queries about the CRS and your tax position, please contact a tax advisor, as we are unable to provide tax advice. You may also find useful guidance on the OECD Portal and the HMRC AEOI website. Links to all of these can be found in the Related Content Section.
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