Common Reporting Standard (CRS)
The Common Reporting Standard (CRS) is an international system that requires financial institutions, including credit unions, to collect and share certain financial information with tax authorities.
Ireland is one of over 100 countries that has signed up to CRS.
Under CRS, Cara Credit Union is required to report certain details each year to the Revenue Commissioners about accounts held by members who are tax resident outside Ireland (this usually means the country where you pay tax).
The Revenue Commissioners may then share this information with tax authorities in other countries, in line with international agreements.
Your Tax Residency Information
Cara Credit Union is required to collect and maintain accurate information about your tax residency.
You will be asked to confirm your tax residency:
- When you open an account
- If we do not already hold this information
- If your circumstances change
A change in circumstances may include, for example:
- A change of address to or from another country
- Moving to live in another country
If you are tax resident outside Ireland, you will be required to provide your Tax Identification Number (TIN) and country of tax residence.
If you need to update your tax residency details, you can complete a CRS Self-Certification Form.
Please complete the form below and return your completed form to Cara Credit Union, in person, by post to Cara Credit Union Ashe Street , Tralee, Co. Kerry or Email to [email protected]
Click here to download CRS Tax Residency Form
Further information on the CRS can be found on www.revenue.ie.
Data Protection
Cara Credit Union collects and processes this information to comply with its legal obligations under the Common Reporting Standard and Section 891F of the Taxes Consolidation Act 1997.
The information we collect may include your name, address, date of birth, Tax Identification Number (TIN), account number, account balance, and certain payments on your account.
This information will be reported to the Revenue Commissioners and may be shared with tax authorities in other countries in accordance with applicable law.
All information is processed in line with data protection legislation and treated with strict confidentiality. Your information will be retained only for as long as required by law.
You have rights in relation to your personal data. For further information, please see our Privacy Notice or contact us directly.