CRS and FATCA are visibility. The self-cert must match the residence story on the dual-tax and 183-day pages.
Six-year rule · Worldwide IIT · Circular 37 · Tax flagship.
Tick every jurisdiction where you are tax resident under that country’s law. Dual residents list both — do not pick the convenient one. China participates in CRS; SAT can receive data on foreign accounts. US persons also have FATCA. Passive NFEs, BVI holdcos and trusts still have controlling persons. 37/ODI/VIE explain the vehicle; they do not hide the account. A false self-cert is often worse than the underlying tax. This page is not an evasion manual.
At a glance
| Question | Short answer |
|---|---|
| Pick one country? | No if you are dual. List both. |
| SAT see SG account? | Assume yes via CRS. |
| BVI empty? | Still controlling persons. |
| US person? | FATCA as well as CRS. |
| Lie on the form? | Its own offence. |
- A convenient tick is its own offence.
- One residence, dual list-both, or US person plus FATCA — the form must match the tax story.
- What to tick.
- Dual — list both
- US person + FATCA
Scope and legal framework
CRS (China is in). Financial institutions collect tax-residence self-certifications and report accounts to the local authority for exchange. China exchanges with many CRS peers.
FATCA. US persons (citizens, residents, some entities) face a parallel US reporting overlay. An IGA does not make the US person “not US.”
Controlling persons. Passive non-financial entities and many trusts look through to natural persons. A Cayman with no lights on still has owners.
- BVI no-substance still has controlling persons.
- SAT, the bank CRS form and the other tax authority need the same residence story.
- Three stories.
- SAT / IIT
- Bank CRS / FATCA
Practical workflow
- 37/ODI/VIE do not hide the account.
- Finish the dual-tax analysis, then the self-cert, then controlling-person annexes.
- Cert then accounts.
- 1. Dual-tax page
- 2. Self-cert
- Write the dual-tax / 183-day conclusion first.
- Complete the bank form with the same jurisdictions and TINs.
- List controlling persons of every passive holdco consistently.
Common mistakes
- The lie on the form is often worse than the tax.
- Ticking Singapore only while living in Shanghai.
- Convenient tick.
- This page is not how to evade CRS.
- Different answers at HSBC HK and the Shanghai branch.
- Omitting China because “I have a second passport.”
- Using this page as a how-to for non-reporting.
Action checklist
- Residence memo from the dual-tax page.
- Same TINs on every self-cert.
- Holdco controlling-person list.
Frequently asked questions
Will SAT see my Singapore brokerage?
If the institution reports under CRS and the pair of countries exchanges, assume the data can move. Plan the IIT file, not the darkness.
I tie-broke to the UK. Tick UK only?
Only if you are not a China tax resident under domestic law after the treaty. If China still treats you as resident, the form usually wants both. That is a counsel question, not a hopeful tick.
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