CRS / DAC2 reporting requirements
The OECD Common Reporting Standard is the global system for automatic exchange of financial account information. The EU applies it through DAC2. Financial institutions identify reportable accounts and file them, each jurisdiction in its own schema.
REGREP is an independent software provider. This page explains the framework in plain language and is not legal or regulatory advice — confirm scope and timing with your tax authority.
- Instrument
- OECD Common Reporting Standard · Directive 2014/107/EU
- Scope
- Reporting financial institutions
- Reporting artefact
- CRS / DAC2 XML return
- Format
- CRS XML schema, per jurisdiction
- Supervisor
- National tax authority
- Penalties
- Set by each jurisdiction for late, incomplete or inaccurate returns
What CRS / DAC2 asks of you
The short version: what the framework requires, who it applies to and when it bites.
What it requires
Financial institutions establish where each account holder is tax resident, identify reportable accounts, and report balances and payments for automatic exchange between tax authorities.
Who it applies to
Banks, custodians, certain investment entities, funds and specified insurance companies in participating jurisdictions.
When it applies
Annually, on the deadline each jurisdiction sets. Firms reporting in several jurisdictions face several deadlines against the same underlying records.
What has to be done
Penalties are set in national law implementing the Common Reporting Standard or Directive 2014/107/EU.
| Obligation | What it means in practice |
|---|---|
| Carry out due diligence | Apply the standard's due diligence rules to new and pre-existing accounts to establish tax residence and self-certification status. |
| Identify reportable accounts | Determine which accounts are reportable to which jurisdiction, including accounts with multiple controlling persons. |
| Validate tax identification numbers | Report tax identification numbers where required, in the structure the receiving jurisdiction expects. |
| File in the jurisdiction's schema | Produce a valid CRS or DAC2 XML return in each jurisdiction's exact schema and submission format. |
| Handle nil returns and corrections | File nil returns where required, and correct earlier returns through the correction mechanism rather than refiling from scratch. |
From your data to a validated filing
Activate only the module the obligation needs. Every price covers one regulated entity unless stated otherwise, and excludes VAT.
CRS / DAC2
Account records in, validated jurisdiction-ready XML out — with structural tax identification number checks and full schema validation before anything is filed.
€1,000/year1 jurisdiction · up to 10,000 records · 1 regulated entity Create free account →Additional jurisdictions
Each jurisdiction you report to is its own subscription, priced on that jurisdiction’s own record count, each in its own schema.
/yearPer additional jurisdiction, per year Create free account →Global TIN Validator
Batch-check tax identification number structures across 111 countries before they reach a return and cause a rejection.
Talk to usFrom €0.01 per record, billed in 100-record blocks Create free account →Volume tiers — by annual record count
| Up to 10,000 records | €1,000/yr |
| 10,000–100,000 records | €1,750/yr |
| 100,000–500,000 records | €3,000/yr |
| Over 500,000 records | Talk to us |
Extras
| Additional jurisdiction | |
| Pay per filing | 400 credits |
| Nil return | 75 credits |
| Nil correction | 75 credits |
Volume tiers are mutually exclusive by total annual record count. Crossing a band prompts a one-click upgrade for the pro-rated difference. 1 credit = €1.
Related to CRS / DAC2
CRS and FATCA across jurisdictions
How funds, financial institutions and trustees file the same records across every jurisdiction they report to.
Read use case →Tax transparency guide
Plain-language explainers on CRS, DAC2, FATCA and CARF — who reports, what is due and when.
Read the guide →CRS filing deadlines
A reviewed calendar of CRS and DAC2 due dates by jurisdiction, each shown in its local timezone.
View deadlines →Questions, answered
What is the difference between CRS and DAC2?
How many jurisdictions does REGREP cover?
Can I test before paying?
How are nil returns and corrections priced?
File CRS/DAC2 without touching the schema.
Create a free account and run a health-test on your own records today.