Features
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      1. TWC Knowledge Base
      2. CRS/FATCA One
      3. Features

      What features the CRS /FATCA ONE have?

      CRS/FATCA One provides a rule-based, customizable, and modular framework to streamline compliance with global tax reporting obligations. It supports multiple data input and delivery mechanisms, XML generation for both FATCA and CRS schemas, jurisdict

      🔧 Rule Configuration & Customization

      • Rule Bases: Codifies flagging rules including indicia, country codes, XML type, currency, reporting year, and user fields.

      • Identify US and CRS Indicia: Applies indicia rules and flags deficiencies (red/yellow).

      • Local Law Discrepancy Customization: Supports IGA Model 1, Model 2, non-IGA, and CRS law variations.

      • FI Risk Tolerance Customization: Allows configuration of de minimis thresholds and other risk elements.

      🧩 Data Processing & Input Options

      • Supports Sponsored Relationships: For FATCA.

      • Data Entry Options:

        • Manual entry

        • Spreadsheet uploads

        • RESTful Web Service API

        • XML data input

      • Institution Hierarchy: Configurable by GIINs, branches, product lines, etc.

      • Firewall/Sharing Control: Data can be isolated or shared across users.

      🌍 Country & Jurisdiction Support

      • Country-Specific XML: Generates US FATCA (v1 & v2) and CRS XMLs (e.g., Costa Rica, Curacao).

      • Search by Country/Submission Year: Allows selection by US, CDOT, CRS countries, etc.

      • Delivery Customization: Supports delivery via XML, encrypted XML, or direct IRS submission.

      • Direct IRS Connectivity: Uses IDES gateway for Model 2, non-IGA countries.

      • Support for TA Reporting Systems: Includes encrypted/local XML generation.

      • Support for Local IGA Rules: Enables formatting based on IGA law differences.

      🛡️ Compliance & Risk Management

      • Flagging System: Red/yellow flags for compliance issues.

      • Indicia Identification & Missing Data Flags: Highlights gaps like missing DOBs or TINs.

      • Remediation Tools: For compliance officers to review and act.

      • Mandatory Officer Confirmation: Tracks curative actions.

      • Documentation Repository: Stores self-certifications, proofs, etc.

      🧾 Audit & Reporting

      • Audit Trail: Permanent log of all compliance actions.

      • Auditing Functionality: Full audit capabilities for institutions.

      • Reporting Module: Summary and detailed reports with 6-year data storage.

      • Account Audit Log: PDF logs per account including actions and sign-offs.

      • Staging Area: Final review zone for compliance and IT before authority submission.

      📤 Submission & Output

      • PDF & XML Output: Downloadable for FATCA (adapted paper format) and CRS.

      • Tax Authority Receipt: Includes data batch ID and record identifiers as proof of submission.