US Tax for Banks in Singapore – Tools & Links

🧭 Internal Tools (USTaxBanks)

• QI Review Tool – checklist for preparing the QI periodic review (including sampling template) for Singapore-based intermediaries.
• FATCA Data Validation (Excel) – structure and field checks aligned with FATCA Form 8966 XML and Singapore AEOI (CRS/FATCA) reporting to IRAS.
• Customer Documentation Matrix (QI/CRS) – overview of acceptable documentation (W-8BEN(-E), W-9, CRS self-certifications) for account opening and remediation.
• W-8 / W-9 Form Reference (current IRS versions) – PDF download & quick reference for frequently used IRS forms.
• 1042-S / 8966 Checklist – completeness check before submission to the IRS and alignment with Singapore AEOI data sets.

Note: Internal tools are only available to registered Singaporean financial institutions or existing clients.

🇸🇬 FATCA & CRS – Singapore (IRAS)

Official sources of the Inland Revenue Authority of Singapore (IRAS) for the implementation of the Automatic Exchange of Information (AEOI) framework under FATCA and the Common Reporting Standard (CRS), including registration, filing and XML specifications.

• 🔗 Automatic Exchange of Information (CRS and FATCA) – Digital Services
  Gateway to AEOI e-services (submit CRS/FATCA returns, view return status, AEOI notices and digital service user guides via myTax Portal).
• 📘 FATCA – Overview and Latest Developments
  Background on the Singapore-US FATCA Intergovernmental Agreement (“FATCA IGA”) and key updates for Reporting Singaporean Financial Institutions (Reporting SGFIs).
• 📄 FATCA Filing
  Explains how Reporting SGFIs must prepare and submit annual FATCA returns (including nil returns) and gives examples of filing timelines.
• 📘 FATCA Compliance
  Outlines FATCA obligations, governance expectations and IRAS’ compliance approach for Reporting SGFIs.
• 🔐 FATCA Registration and Deregistration
  Guidance on how Reporting SGFIs register and deregister for FATCA with IRAS and the US IRS FFI list.
• 📘 CRS – Overview and Latest Developments
  Overview of CRS in Singapore, including implementation updates and upcoming changes to schema and guidance.
• 📄 CRS Filing
  Explains how Reporting SGFIs prepare and submit CRS returns (XML or fillable PDF) via myTax Portal, including nil returns.
• 🧩 IRAS XML Schema User Guide for CRS Return (Third Edition) (PDF)
  Technical user guide for preparing CRS XML Returns using the OECD CRS XML Schema, with IRAS-specific instructions.
• 🧩 IRAS CRS File and Record Level Validations (PDF)
  List of file- and record-level validation rules applied by IRAS to CRS XML submissions (error codes, descriptions and corrective actions).
• 🧩 Quick Guide on CRS Return Submission (PDF)
  Step-by-step walk-through of CRS submission via myTax Portal, including examples and screenshots.
• 📘 Singapore: Implementation of CRS XML Schema v3.0 (KPMG TaxNewsFlash, Aug 2025) (PDF)
  Summary of IRAS’ announcement that all CRS XML returns (including past years) must use the OECD CRS XML Schema v3.0 from 1 January 2027.
• 🕒 Filing deadlines (FATCA / CRS – Singapore)
  For both FATCA and CRS, all Reporting SGFIs must generally submit their annual returns (including nil returns, where applicable) by 31 May of the year following the calendar year to which the return relates. Example: reporting period 2024 → filing deadline 31 May 2025. Always refer to current IRAS guidance for any changes or administrative extensions.

🇺🇸 QI – IRS Resources

Official sources of the Internal Revenue Service (IRS) on the Qualified Intermediary (QI) regime and related withholding and reporting obligations for Singaporean banks, brokers and custodians.

• 🔗 Qualified Intermediary Program (IRS.gov)
  Overview of the QI regime, including links to the QI/WP/WT system and program announcements.
• 📜 Revenue Procedure 2022-43 – 2023 QI Agreement (PDF)
  Current QI withholding agreement, including rules for QDDs and PTP income.
• 🧾 Notice 2022-23 (PDF)
  Notice with proposed changes and clarifications to the QI agreement, including QDD and PTP aspects.
• 📘 QI General FAQs
  Frequently asked questions on QI registration, periodic review, certifications and other operational topics.
• 🔐 QI/WP/WT System – apply, renew, certify or terminate
  Secure portal for managing QI, WP and WT agreements and certifications.
• 🧮 Forms & reporting (selection):
  
  • About Form 1042-S – Foreign Person’s U.S. Source Income Subject to Withholding
  • About Form 8966 – FATCA Report
  • IRS Forms W-8 / W-9 overview: About Form W-8BEN • About Forms W-8 (overview) • About Form W-9

🌐 Additional Sources

• PwC Singapore – Foreign Account Tax Compliance Act (FATCA)
  High-level explanation of the Singapore FATCA regime, including the Model 1 IGA and practical considerations for Singapore-based FIs.
• Association of Banks in Singapore (ABS) – FATCA Resources
  Government announcements and ABS materials relating to the Singapore–US FATCA IGA and industry implementation.
• KPMG – Updated FATCA and CRS e-Tax Guides (Dec 2021) (PDF)
  Summary of revisions to IRAS’ FATCA/CRS e-Tax Guides, including self-review expectations and voluntary disclosure of reporting errors.
• OECD – Common Reporting Standard (CRS) schema & user guides
  Global CRS standard, XML schema, implementation handbook and sample self-certification forms.

🔄 Note on Timeliness

All links and references on this page are checked regularly. Nevertheless, legislation, IRAS guidance and IRS materials may change at short notice. Always refer to the most recent official publications when planning filings, reviews or audits.
Last updated: November 23, 2025