WISE (Transferwise) Reporting policies and dates- CRS etc

Sukhoi35

Hi Guys,

Could somebody please tell me what the reporting policies are for Wise please, and how they relate to the CRS/Fatca/OECD requirements.

In reality, are they juts reporting individuals or companies that they identify as a red flag (any specific info on what that might be) , or is the system automatic, in that at a certain time of year it reports all balances to an authority (what might that be) in the individuals registered home state? Somebody told me that if you have a USD dollar account, that those funds are in an actual US account and therefore not reportable to the E.U in reality. But surely your Wise account is considered one entity?

It seems some countries (which I assume are banks or revenue) report their concerns to other member states on a specific date of the year.

Thanks

OB

Sukhoi35

Anyone...please?!

AndrewJRenko

Try the banking forum

HildaOgdenx

Mod - Moved to Banking Forum.

Local charter now applies.