This course is a practical guide to help finance professionals complete FATCA and CRS reports effectively. It covers the essential AEOI reporting requirements, focusing on the information gaps and technical pitfalls that may lead to file rejections and potential regulatory consequences. It includes interactive case studies, reviews the official guidance from the Isle of Man Government for both CRS and FATCA, and provides a useful checklist to help resolve common reporting issues.
Suitable for
Anyone who works in the Isle of Man financial sector and takes part in FATCA, CRS or CARF Reporting.
Session content
FATCA, CRS 2.0 and CARF – an overview of today’s financial reporting landscape.
The reporting cycle and reporting calendar
Legal obligations applying to finance firms in the Isle of Man
Penalties and consequences of inaccurate reporting
Common error types and “failure modes”:Onboarding and data validation failures
TIN Integrity, incorrect entity classifications and inaccurate tax residencies
Data gaps, missing deadlines and file formatting issues
Remediation processes and protocols
IOM official guidance and sources of help
Summarising the process: the evaluation, classification and remediation cycle
Case study – Reporting on a complex trust structure
Q&A and Slido Quiz
Tutor
Paul Darroch Groden
Paul is a freelance tutor specialising in finance, business strategy, and soft skills. He has worked for over twenty years in leading global firms, primarily in securitisation, structured products and change management.
Paul gained a first-class degree in Modern History from Oxford University, where he was a Centenary Scholar at St Hugh’s College. He also holds a postgraduate diploma in Business Studies with Distinction from the London School of Economics.
He is winner of the Shell Economist Writing Prize and is the author of two published books. Paul is a Fellow of CIMA and a Chartered Fellow of CISI, and is a former President of CISI Jersey branch.
