Can someone clarify if US banks will disclose to CRS participating countries even though they use FATCA and not CRS? I believe they will "on request" since any countries which provide data about USA citizens through FATCA the US will in exchange provide any data on citizens of those countries...
OK so only financial institutions from countries which have adopted CRS are required to report. This would include banks, investment entities and insurance companies associated with an offshore structure. What will happen if they change the rules to enforce the offshore structure themselves to...
What is the status of Foundations in regards to CRS reporting? I read a lot about offshore foundation like in Seychelles or Dutch STAK etc for ultimate privacy but don't they get reported just the same as trusts? Or do foundations rely on the bank you open to do the reporting?
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