Since 1 January 2021, Luxembourg reporting financial institutions must submit a NIL return (ZeroReporting) when they have no reportable US accounts or CRS (Common Reporting Standard) accounts to report.

These financial institutions must submit NIL return (FATCA and/or NCD) to the Luxembourg Inland Revenue (Administration des contributions directes - ACD):

• using
  • as of now: MyGuichet.lu using a LuxTrust product or an electronic identity card; or
  • one of the two existing transmitters, namely FUNDSQUARE or SIX PAYMENT SERVICES;
• annually until 30 June.

Therefore, for the fiscal year 2020, the returns must be filed by 30 June 2021 at the latest.

As a reminder:

• the CRS Act introduces the automatic exchange of information relating to financial accounts (reportable accounts) in tax matters with European Union (EU) Member States and Luxembourg's partner jurisdictions;
• the Foreign Account Tax Compliance Act (FATCA) requires Luxembourg financial institutions and certain Luxembourg non-financial entities to report financial accounts that are held directly or indirectly by US citizens and US residents.

Find out how to submit a NIL return for FATCA or NCD in our explanatory information page.