Trusted support for compliance across Jersey and Guernsey

Financial institutions and fiduciary structures in Jersey and Guernsey are subject to the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS). These international tax transparency regimes require the classification of entities, due diligence on account holders, and the annual filing of financial account information with the relevant local tax authority.

Our Expertise

At BCR, our team of experts offer end-to-end support for FATCA and CRS compliance tailored to trusts, foundations, companies, and other reportable entities in the Channel Islands.

Our Approach

Under Jersey and Guernsey legislation, entities such as trusts, foundations, and investment vehicles must determine whether they are classified as Financial Institutions and, if so, complete appropriate account holder due diligence and file annual reports.

Non-compliance can result in regulatory penalties, reputational damage, or issues with banking relationships. With increasing scrutiny from international tax authorities, a proactive approach to classification and reporting is essential. We support the following clients:

• Trustees of Jersey and Guernsey trusts.
• Corporate Service Providers (CSPs) requiring specialist classification advice.
• Councils of foundations and CSP-administered structures.
• Investment vehicles and family offices.
• HNWIs seeking peace of mind around their structures’ compliance status.

Our Services

We provide the support with the following:

• Classification of entities under FATCA and CRS rules.
• Registration with the IRS (for FATCA) and local portals in Jersey or Guernsey.
• Review of trust and foundation documentation for compliance alignment.
• Due diligence support for account holder identification.
• Preparation and submission of annual FATCA/CRS reports.
• Liaison with Revenue Jersey or the Guernsey Revenue Service on queries or corrections.

Our values in action

Excellence: Accurate returns tailored to your structure.
Delivery: On-time submissions and proactive compliance tracking.
Respect: Supporting trustee duties with care and discretion.
Elegance: Clear, organised reporting that aligns with governance standards.‍

Why BCR Pro

We ensure your trusts, foundations, and structures meet all regulatory requirements accurately and proactively, helping you avoid penalties, safeguard your reputation, and maintain seamless banking relationships.