IEIM402195 | Reportable Information: Whether an account is Preexisting or New

Reportable Information: Whether an account is Preexisting or New

For reporting for the calendar year 2026 onwards, Financial Institutions must report whether each reportable account is a Preexisting Account or a New Account.

For CRS purposes, a Pre-existing Account is an account opened before 1 January 2016, or if the account is treated as a Financial Account solely by virtue of CRS2.0, an account opened before 1 January 2026 (see IEIM402655).

A New Account is an account opened on or after 1 January 2016, or if the account is treated as a Financial Account solely by virtue of CRS2.0, an account opened on or after 1 January 2026 (see IEIM403115)

In some circumstances (see IEIM403125), accounts opened on or after 1 January 2016 or 1 January 2026 respectively can be categorised as Pre-existing Accounts. Accounts that are categorised as Pre-existing Accounts in such circumstances are subject to Pre-existing Account due diligence and should be reported as being Pre-existing Accounts.

See example at IEIM403125.