What is the impact of CRS on One Account?
Every year financial institutions must report information on all financial accounts (for example, current accounts, savings accounts, deposit accounts, custodial accounts, certain insurance policies and interests in investment funds) held directly or indirectly by account holders "resident" in countries other than my bank's tax jurisdiction.
As a result, One Account will review its customers, to ensure all accounts and entity accounts are correctly identified and reported, where required.
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