{
  "url": "https://openlegislation.uk/international-tax-compliance-crown-dependencies-and-gibraltar-regulations-2014/regulation-8",
  "json_url": "https://openlegislation.uk/international-tax-compliance-crown-dependencies-and-gibraltar-regulations-2014/regulation-8.json",
  "legislation": "uksi/2014/520",
  "legislation_title": "The International Tax Compliance (Crown Dependencies and Gibraltar) Regulations 2014",
  "legislation_url": "https://openlegislation.uk/international-tax-compliance-crown-dependencies-and-gibraltar-regulations-2014",
  "path": "regulation/8",
  "kind": "regulation",
  "number": "8",
  "heading": "Reporting obligations",
  "text": "(1) A reporting financial institution must, in respect of 2014 and every following calendar year, prepare a return setting out—\n(a) the required information in relation to every reportable account of that category that is maintained by the institution at any time during the calendar year in question, and\n(b) the institution’s Global Intermediary Identification Number (or, if it has not been allocated such a number, the Unique Taxpayer Reference number allocated to the institution by HMRC).\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(3) The return must be submitted electronically in accordance with regulation 8A on or before 31st May of the year following the calendar year to which the return relates (“the reporting date”).\n(4) The required information is—\n(a) the name and address of the account holder,\n(b) the account holder’s social security number,\n(c) if an account is identifiable by an account number, that number or, if not, any functional equivalents,\n(d) the balance or value of the account (including, in the case of a cash value insurance contract or annuity contract, the cash value or surrender value) as of the end of the calendar year or, if the account was closed during the year, the balance or value on the date that the reporting financial institution closed the account,\n(e) the relevant total gross credits, or if there are none, a statement of that fact,\n(f) if the account holder is an individual, that person’s date of birth, and\n(g) if the account holder is a passive NFFE that has a controlling person who is a specified person, the name and address of that specified person, and, if that person is an individual, that person’s—\n(i) social security number, and\n(ii) date of birth.\n(5) The “relevant total gross credits” means—\n(a) in the case of a custodial account—\n(i) the total gross amount of interest, the total gross amount of dividends and the total gross amount of other income generated with respect to assets held in the account which is paid into, or with respect to, the account during the calendar year, and\n(ii) the total gross proceeds from the sale or redemption of property paid into the account during the calendar year if the institution acted as a custodian, broker, nominee or otherwise as an agent for the account holder,\n(b) in the case of a depository account, the total gross amount of interest paid to the account during the calendar year, and\n(c) in the case of any other account, the total gross amount of sums paid by the institution under a legal obligation to the account holder with respect to the account during the calendar year,\nand “interest” here includes any amount that is chargeable as interest under Part 4 of ITTOIA 2005.\n(6) For the purposes of this regulation—\n(a) references to the balance or value of an account include a nil balance or value,\n(b) references to paying an amount include crediting an amount,\n(c) “social security number” means—\n(i) in relation to the Isle of Man agreement, either the number allocated to a person for the social security purposes or a person’s United Kingdom National insurance number,\n(ii) in relation to any other relevant agreement, the number allocated to a person for the social security purposes of Guernsey, Jersey or Gibraltar as the case may be.\n(7) If a reporting financial institution has an established practice for the periodic valuation of accounts of a particular description otherwise than at the end of a calendar year, the institution may report under paragraph (5)(a) or (c) by reference to a period of 12 months ending with the date (or, if more than one, the latest date) in the calendar year on which the institution values accounts of that description (instead of by reference to the calendar year).\n(8) If a reporting financial institution does not hold the information that it is required to report under paragraph (4)(b), (f) and (g), the institution must obtain that information from the account holder.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 8(2) omitted (15.4.2015) by virtue of The International Tax Compliance (Crown Dependencies and Gibraltar) (Amendment) Regulations 2015 (S.I. 2015/873), regs. 1(2), 2(3)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 8(3) substituted (15.4.2015) by The International Tax Compliance (Crown Dependencies and Gibraltar) (Amendment) Regulations 2015 (S.I. 2015/873), regs. 1(2), 2(3)(b)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 8 in force at 31.3.2014, see reg. 1(2)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "2005 c. 5."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/520/regulation/8",
    "retrieved_at": "2026-10-29T00:24:31.607999+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}