Submitting a NIL return "Foreign Account Tax Compliance Act" or "Common Reporting Standard"

The Common Reporting Standard Act (CRS) 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 list of partner jurisdictions and jurisdictions subject to reporting under the CRS Act can be found here.

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.

Also, 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 NIL returns must be submitted to the Luxembourg Inland Revenue (ACD). These submissions can be made via MyGuichet.lu, or via one of the existing transmitters.

Financial institutions must submit 2 separate NIL returns if they have neither FATCA nor CRS reportable accounts.

Who is concerned

Institutions concerned

Luxembourgish reporting financial institutions. All Luxembourg financial institutions that are not qualified as a Non-Reporting Financial Institution are concerned.

Note: a financial institution means any custodial institution, depository institution, investment entity or specified insurance company as defined by the FATCA and CRS Acts.

Depositors concerned

The depositor :

  • may be:
    • a legal person;
    • the same entity as the Luxembourg reporting financial institution;
    • responsible for the reporting of one or more financial institutions;
  • must have a Luxembourg personal tax identification number (national identification number). If this is not the case, it must contact the ACD to obtain the form "Application for a personal identification number under the automatic exchange of information".

Prerequisites

The reporting financial institution must not have reportable CRS accounts or reportable US accounts.

If the Luxembourg reporting financial institution has reportable accounts, the report must be submitted through one of the following existing transmitters:

Preliminary steps

For FATCA purposes, Luxembourg financial institutions must comply with the applicable licensing requirements, in accordance with the electronic procedure defined by the Internal Revenue Service (IRS), to obtain an identification number, commonly known as GIIN.

In order to proceed with the annual filing of the FATCA declaration, each Luxembourg financial institution must register on the IRS portal in order to obtain a GIIN: https://www.irs.gov/businesses/corporations/fatca-foreign-financial-institution-registration-system

If you have problems accessing the IRS portal, please contact IRS technical support at https://www.irs.gov/businesses/corporations/fatcahelp501.

Deadlines

Luxembourg reporting financial institutions must submit FATCA and CRS declarations to the ACD on an annual basis by 30 June of the year following the reportable tax year.

For example: 30 June 2021 at the latest for the 2020 tax year.

Costs

Filing a NIL return via MyGuichet.lu is free of charge.

How to proceed

Filing an application

Luxembourg reporting financial institutions or their filing entity can send a CRS or FATCA NIL return to the ACD via MyGuichet.lu.

Depositors must select the appropriate procedure for their declaration, i.e. :

  • ACD: FATCA – Submitting a NIL return; or
  • ACD : NCD – Submitting a NIL return.

Applicants must submit their NIL returns electronically through their professional eSpace on the MyGuichet.lu platform. Depositors must have:

  • a LuxTrust product (e.g. Token, Smartcard or Signing stick); or
  • an electronic identity card.

Depositors must complete and digitally sign the declaration via LuxTrust.

Using MyGuichet.lu

There are 3 possible scenarios:

  • The person submitting the application is a new user on MyGuichet.lu and does not yet have a private eSpace:

The creation of the eSpace is done in 2 steps:

  1. registration of a user;
  2. creation of a business eSpace.

A tutorial in video or pdf format is available to guide you.

  • The person submitting the application is a user of MyGuichet.lu and already has a private eSpace: they will have to create a new business eSpace.

A tutorial in video or PDF format is available to guide you.

  • The person submitting the application already has a business eSpace for the company: the existing business eSpace can be used.

Consult the help section on MyGuichet.lu.

Filing a NIL return via a transmitter

Filing a NIL return can also be done via one of the existing transmitters (see under "Prerequisites") using their input form.

Correction/cancellation of a NIL return

The submitter cannot correct NIL returns submitted to the ACD.

If the ACD rejects the submitter's procedure, the submitter will, if necessary, be invited to file a new procedure.

Furthermore, the filing of an initial declaration via one of the 2 transmitters overwrites the filing of a NIL return. This entails the cancellation of said NIL return.

Sanctions

Luxembourg reporting financial institutions are liable to a fixed fine of EUR 10,000 in the event of:

  • a complete failure to file; or
  • a late filing of a NIL return.

Luxembourg reporting financial institutions may provide justifications (e.g. change of legal status) to the ACD before this fixed fine is imposed.

Furthermore, Luxembourg reporting financial institutions may be fined up to EUR 250,000 if the ACD finds, following an audit, that they have not complied with their obligations.

An appeal for review before the Administrative tribunal of Luxembourg may be lodged against the decisions of the ACD that have set the fine due.

Good to know

If a financial institution:

  • does not have any reportable accounts under FATCA or CRS: it must file a NIL return;
  • does have reportable accounts under FATCA or CRS: it must use one of the 2 transmitters to report these accounts (see under "Prerequisites").

Forms / Online services

Zero data message reporting "Foreign Account Tax Compliance Act" or "Common Reporting Standard"

To complete your application, the information about you collected from this form needs to be processed by the public administration concerned.

That information is kept by the administration in question for as long as it is required to achieve the purpose of the processing operation(s).

Your data will be shared with other public administrations that are necessary for the processing of your application. For details on which departments will have access to the data on this form, please contact the public administration you are filing your application with.

Under the terms of Regulation (EU) 2016/679 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, you have the right to access, rectify or, where applicable, remove any information relating to you. You are also entitled to withdraw your consent at any time.

Additionally, unless the processing of your personal data is compulsory, you may, with legitimate reasons, oppose the processing of such data.

If you wish to exercise these rights and/or obtain a record of the information held about you, please contact the administration in question using the contact details provided on the form. You are also entitled to file a claim with the National Commission for Data Protection (Commission nationale pour la protection des données), headquartered at 15, boulevard du Jazz L-4370 Belvaux.

By submitting your application, you agree that your personal data may be processed as part of the application process.

ACD : Déclaration de message à valeur zéro "Foreign Account Tax Compliance Act" ou "Norme Commune de Déclaration"

Les informations qui vous concernent recueillies sur ce formulaire font l’objet d’un traitement par l’administration concernée afin de mener à bien votre demande.

Ces informations sont conservées pour la durée nécessaire par l’administration à la réalisation de la finalité du traitement

Les destinataires de vos données sont les administrations compétentes dans le cadre du traitement de votre demande. Veuillez-vous adresser à l’administration concernée par votre demande pour connaître les destinataires des données figurant sur ce formulaire. Conformément au règlement (UE) 2016/679 relatif à la protection des personnes physiques à l'égard du traitement des données à caractère personnel et à la libre circulation de ces données, vous bénéficiez d’un droit d’accès, de rectification et le cas échéant d’effacement des informations vous concernant. Vous disposez également du droit de retirer votre consentement à tout moment.

En outre et excepté le cas où le traitement de vos données présente un caractère obligatoire, vous pouvez, pour des motifs légitimes, vous y opposer.

Si vous souhaitez exercer ces droits et/ou obtenir communication de vos informations, veuillez-vous adresser à l’administration concernée suivant les coordonnées indiquées dans le formulaire. Vous avez également la possibilité d’introduire une réclamation auprès de la Commission nationale pour la protection des données ayant son siège à 15, boulevard du Jazz L-4370 Belvaux.

En poursuivant votre démarche, vous acceptez que vos données personnelles soient traitées dans le cadre de votre demande.

ACD: Nullmeldung „Foreign Account Tax Compliance Act“ oder „Common Reporting Standard“

Ihre in diesem Formular erfassten personenbezogenen Informationen werden von der zuständigen Verwaltungsbehörde verarbeitet, um Ihren Antrag erfolgreich abzuschließen.

Diese Informationen werden von der Behörde für den zur Verarbeitung erforderlichen Zeitraum gespeichert.

Die Empfänger Ihrer Daten sind die im Rahmen Ihres Antrags zuständigen Verwaltungsbehörden. Um die Empfänger der in diesem Formular erfassten Daten zu erfahren, wenden Sie sich bitte an die für Ihren Antrag zuständige Behörde.

Gemäß der Verordnung (EU) 2016/679 zum Schutz natürlicher Personen bei der Verarbeitung personenbezogener Daten und zum freien Datenverkehr haben Sie das Recht auf Zugang, Berichtigung und gegebenenfalls Löschung Ihrer personenbezogenen Informationen. Sie haben zudem das Recht, Ihre erteilte Einwilligung jederzeit zu widerrufen.

Weiterhin können Sie, außer in Fällen, in denen die Verarbeitung Ihrer Daten verpflichtend ist, Widerspruch einlegen, wenn dieser rechtmäßig begründet ist.

Wenn Sie diese Rechte ausüben und/oder Einsicht in Ihre Informationen nehmen möchten, können Sie sich unter den im Formular angegebenen Kontaktdaten an die zuständige Verwaltungsbehörde wenden. Sie haben außerdem die Möglichkeit, bei der Nationalen Kommission für den Datenschutz Beschwerde einzulegen (Commission nationale pour la protection des données, 15, boulevard du Jazz L-4370 Belvaux).

Wenn Sie Ihren Vorgang fortsetzen, akzeptieren Sie damit, dass Ihre personenbezogenen Daten im Rahmen Ihres Antrags verarbeitet werden.

Who to contact

We are interested in your opinion

How would you rate the content of this page?

Last update