Understanding FATCA and CRS compliance in Singapore: key insights for wealth managers​

Gain insights into how the compliance regulations impact client onboarding, account classification and reporting obligations.​

This session will address the evolving landscape of Foreign Account Tax Compliance (FATCA) and Common Reporting Standard (CRS) compliance in Singapore, with practical insights into how these regulations impact client onboarding, account classification and reporting obligations.​

As Singapore continues to strengthen its tax transparency framework, financial institutions including private banks and asset managers must stay ahead of developments under the US FATCA and the Organisation for Economic Co-operation and Development (OECD) CRS. With the amended CRS (CRS 2.0) coming into effect on 1 January 2027 and enhanced scrutiny on due diligence and reporting practices, this session will provide timely guidance on what private bankers need to know and do.​

Key topics of discussion:​

• Overview of FATCA and CRS obligations for financial institutions in Singapore​
• Key changes under CRS 2.0 and their implications for client onboarding and documentation​
• Practical challenges in identifying and reporting US and reportable accounts​
• Common pitfalls in FATCA and CRS classification and how to avoid them​
• IRAS' expectations and enforcement trends​
• Leading practices for aligning anti-money laundering (AML), know your customer (KYC) and automatic exchange of information (AEOI) processes​

Who should attend:​

Private bankers, relationship managers, compliance officers and onboarding specialists involved in client due diligence and regulatory reporting.​

Speakers​

• Desmond Teo, Partner, Private Tax, Ernst & Young Solutions LLP​
• Spencer Hsu, Associate Partner, Private Tax, EY Corporate Advisors Pte. Ltd. ​
• Sima Shah, Partner, Financial Services Tax, Ernst & Young Solutions LLP​

This event is now over. For enquiries, please contact the organizer.

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