Submitting a NIL return "Foreign Account Tax Compliance Act" or "Common Reporting Standard"
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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:
- FUNDSQUARE, a subsidiary of the Luxembourg Stock Exchange, using their e-File tool; or
- WORLDLINE FINANCIAL SERVICES using their SOFIE tool.
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.
If you have problems accessing the IRS portal, please contact IRS technical support.
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
Submission of the 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 business 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.
How to create a business eSpace on MyGuichet.lu
There are 2 possible scenarios:
- You are a new user of MyGuichet.lu. You must:
- first register on MyGuichet.lu; and
- then create a business eSpace.
- You already have a private eSpace on MyGuichet.lu. You can directly create a business eSpace without having to register again.
Further information as well as tutorials in relation with the business eSpace are available in our dedicated help page.
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").
Online services and forms
Online services
Who to contact
Luxembourg Inland Revenue (ACD)
-
Luxembourg Inland Revenue (ACD)
- Address:
- 33, rue de Gasperich L-5826 Hesperange Luxembourg
Please consult the above website to find the competent department.
Division on the Exchange of Information and Withholding Tax on Interest (FATCA/CRS)
-
Division on the Exchange of Information and Withholding Tax on Interest (FATCA/CRS)
- Address:
- Luxembourg Luxembourg
- Phone:
- (+352) 247 52 459
- Email address:
- aeoi@co.etat.lu
Related procedures and links
Procedures
Links
Further information
sur le site de l'Administration des contributions directes
Legal references
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Loi du 24 juillet 2015
portant approbation 1. de l'Accord entre le Gouvernement du Grand-Duché de Luxembourg et le Gouvernement des Etats-Unis d'Amérique en vue d'améliorer le respect des obligations fiscales à l'échelle internationale et relatif aux dispositions des Etats-Unis d'Amérique concernant l'échange d'informations communément appelées le «Foreign Account Tax Compliance Act», y compris ses deux annexes ainsi que le «Memorandum of Understanding» y relatif, signés à Luxembourg le 28 mars 2014 2. de l'échange de notes y relatives, signées les 31 mars et 1er avril 2015.
-
Loi du 18 décembre 2015
concernant l'échange automatique de renseignements relatifs aux comptes financiers en matière fiscale et portant 1. transposition de la directive 2014/107/UE du Conseil du 9 décembre 2014 modifiant la directive 2011/16/UE en ce qui concerne l'échange automatique et obligatoire d'informations dans le domaine fiscal; 2. modification de la loi modifiée du 29 mars 2013 relative à la coopération administrative dans le domaine fiscal.
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Règlement grand-ducal modifié du 15 mars 2016
portant exécution de l'article 2, paragraphe 4 de la loi du 18 décembre 2015 relative à la Norme commune de déclaration (NCD)
