India: FATCA, CRS registration procedures

India: FATCA, CRS registration procedures

India’s Central Board of Direct Taxes (CBDT) issued guidance outlining the registration procedures under the FATCA and common reporting standard (CRS) regimes. The CBDT guidance—Notification 4/2016 (6 April 2016)—updates prior instructions issued in August 2015 and September 2015.

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Read the CBDT Notification 4/2016 [PDF 2.63 MB]

The April 2016 guidance addresses the following areas:

  • Generation of ITDREIN: The reporting financial institution (RFI) must apply for an “ITDREIN” (that will be different for each reporting entity category) via the income tax e-filing website.  Once the ITDREIN is generated, the RFI will receive a confirmation email and SMS information.  After creation of the ITDREIN, the RFI will be required to submit relevant details via the system.  On activation, the RFI then must login using the ITDREIN as the login tax ID and a password as set during the process. 
  • Registration of designated director and principal officer: After submitting its details, the RFI must submit the details of its designated director and principal officer, generally following similar steps.
  • Registration for existing registered RFIs: These RFIs will be able to view the ITDREIN details after logging in to the system following the path: “My Account>Manage ITDREIN”.  An email will be sent to the entity’s registered email ID to allow for access activation, and this activation process will allow the RFI to choose a password for access.   

For submissions of Form 61B, the RFI will be required to login to the e-filing website using the ITDREIN and other information as set through the registration process (as described briefly above). 

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