Our approach

Many organisations have found AEOI reporting challenging without a reliable technology solution. The significant increase in volume and complexity makes it difficult to stay on top of reporting obligations, whether you operate in one jurisdiction or twenty. Further challenges arise from the differences in data privacy laws, reporting deadlines, required file formats, and submission methods. The difficulty in extracting comprehensive, quality data and the lack of test facilities from many tax authorities only add to these issues. Given that tax authorities increasingly expect improved data quality over time, the burden on financial institutions is expected to continue to grow.

KPMG AEOI Reporting is a global technology solution for reporting under FATCA and CRS, designed to help financial institutions and service providers manage this complexity. The solution converts customer/client data into the correct reporting schema for all jurisdictions where you operate. It is a proprietary solution developed, owned, and managed by KPMG, with local AEOI experts in each country ensuring rules and country-specific information are kept up to date. This provides users with the confidence that they can generate and submit correct returns using a tried and tested technology.

How we can support you

KPMG offers two approaches to help clients with their AEOI reporting needs:

Managed service

Clients provide their data to KPMG, who then process and submit it. KPMG is committed to maintaining the confidentiality and security of client data, which is only processed in the Crown Dependencies or your country of operation.
Software solution

The software can be deployed behind your organisation’s firewall. This ensures that you never have to send your data outside of your organisation for processing.

Both of these options are widely used by a diverse group of financial institutions and service providers across the Crown Dependencies and can be tailored to meet your specific needs. The service is scalable for organisations of all sizes and complexity across all sectors.

Key features of KPMG AEOI Reporting solution

A proprietary data validation engine performs hundreds of checks on your data to identify errors and missing data that could delay or prevent submission. It also identifies mandatory and optional data points to ensure completeness and accuracy.

Clients can use the KPMG AEOI data health check within the KPMG AEOI Reporting solution to run their data through a rules engine regularly throughout the year. This helps identify and resolve data issues before the reporting season, speeding up the final report generation process.

A dashboard provides a centralised view of your AEOI workflow, allowing management to track the status and progress of reporting across multiple financial institutions, business units, and jurisdictions.

The solution is designed to be quick and easy to install. It automatically updates schemas and templates without requiring any action from the user. On-screen guidance and an embedded user guide are also provided.

The solution creates an audit trail that logs data changes and produces a ‘human readable’ report of the XML data for record-keeping and audit purposes.