Alphacat (v.16.3) Edition
Following Cayman Islands release of the updated AEOI Portal User Guide at the end of June 2017, we have made available a patch to meet the requirements of their CRS Business Rules.
The updates and fixes applied to this patch are described below:
- Cayman Island’s CRS reports are to be submitted per jurisdiction. The jurisdiction being reported would be identified as the “ReceivingCountry”. We have now implemented a feature to allow ReceivingCountry to be edited in Alphacat.
- The User Guide for the Cayman Islands stipulates that the first two characters of the DocRefId must correspond to the sending jurisdiction country code. We have updated our Cayman Island CRS output accordingly.
- The CorrMessageRefID was an automatically generated reference which was identified as an element to be omitted in corrected CRS Reports. This has been updated for Cayman Islands CRS reports and other CRS jurisdictions, as it is not required in any jurisdiction.
- It was brought to our attention that where a FATCA submission includes a Sponsoring Financial Institution arrangement, the Sponsored FI’s GIIN and Filer Category were not showing correctly in Report Mode. This has been corrected. In some cases, for Jersey CRS filings, the DocRefId for Entity Accounts with Controlling Persons was not generated correctly. This has been fixed.
Click here to download the latest Alphacat 16.3 update. Once downloaded extract the contents of the zip file to your Alphacat installation folder. Unless you have specified a different path, the default path for the installation folder is C:\Program Files (x86)\TCSL\TCSL Alphacat.
Alphacat (v.16.2) Edition
During May 2017 the Jersey government released further guidance on their expectations for the CRS reports, which are due to be submitted by the end of June. This guidance may require you to report some additional data, which is not mandatory in the OECD guidance, specifically:
- Including the country of residence for the Financial Institution (FI)
- Reporting Date of Birth for all individuals
- Entering a minimum of one character for an unknown TIN
Changes are also required to the format of the xml reports produced from Alphacat for Jersey. In line with these requirements we have released Alphacat Version 16.2 Edition.
A list of the specific enhancements and made for this release is shown below:
- We have made a change to the XML namespace for Jersey in order to comply with the required namespace requirements.
- The format of two message fields (MessageRefId and DocRefId) has been changed to conform with the required layout.
- A diagnostic will be shown where the Country of residence for the FI is not completed. The previous ‘optional’ text next to the Country of residence field on the Financial Institution details statement has been removed. This applies to FATCA, in Jersey as well as CRS.
- Jersey authorities’ guidelines require that if a TIN is unknown a minimum 1 character must be entered instead. We have now created a diagnostic to alert the user.
- We have implemented a diagnostic prompting users to enter the Date of Birth as this is now a mandatory entry when filing a CRS submission.
- Jersey authorities require that the City element of the fixed format address has to be entered when the Address (free format) option is used. We have made the address fixed fields available when using free format addresses and created a diagnostic to alert Jersey licensed users to this requirements.
Other fixes applied in Alphacat Version 16.2:
- Previously if you had a sponsored FI arrangement Alphacat would have used the sponsoring identity GIIN. We have now changed Alphacat to ensure that from 1st of January 2017 sponsored FIs can enter their own GIIN.
- Some jurisdiction submission portals are raising an error where the Country of residence of the FI is not completed. Therefore, a diagnostic will be shown where the Country of residence for the FI is not completed. The previous ‘(optional)’ text next to the Country of residence field on the Financial Institution details statement has been removed.
Click here to download the latest Alphacat 16.2 update. Once downloaded extract the contents of the zip file to your Alphacat installation folder. Unless you have specified a different path, the default path for the installation folder is C:\Program Files (x86)\TCSL\TCSL Alphacat.
If you have any questions, or experience any problems with the update please contact Support on +44 (0)1784 777 666 or email firstname.lastname@example.org.