How It Works
The system receives submissions from Financial Institutions through a public web portal. It joins data from other Financial Institutions and is processed using an internal web portal into packets of data ready to be uploaded to the relevant OECD agreement or FATCA body. Status, notifications are received and processed. Penalties for late submissions can also be applied. A dashboard gives an instant status indication, and “to do” list tells you exactly what is outstanding and what needs to be done.
Registration
Financial Institutions must first register in order to provide submissions. Details including their GIIN (Global Intermediary Identification Number) for FATCA, or TIN (Tax Identification Number) for CRS or CbCR reporting, to be used for validation must be supplied. Registrations must then be approved prior to any submissions.
FI Submission
Financial Institutions may upload an XML file or use a built in web form. The XML should conform to the OECD schema.
Web Form Submission
Submissions can be made using a web form. Two factor authentication can be enforced to secure the FI account.
Processing
The administration portal extracts the jurisdictions from the FI submission and combines them with other unsubmitted jurisdictions. You can select all, or individual, jurisdictions to compile and transmit.
Transmission
Transmissions are securely packaged up and sent using SFTP. Transmissions can be automated or confirmation that the submission is coming from a competent authority can be required prior to transmission.
Process Notifications
Notifications from other jurisdictions are automatically downloaded and the results displayed. Notifications can be manually imported if required.
Dashboard
A dashboard is available which displays charts of the imported, compiled and transmitted returns. It also gives a return progress overview.
AEOI Solution – Required Infrastructure
This is the minimum infrastructure required for the AEOI solution.
The solution requires two Microsoft Windows servers. The database is designed to work on Microsoft SQL Server.
The solution will work with on premises servers or from virtual servers in the cloud.
This is the standard infrastructure configuration.
This configuration splits out the front end database and management web portal on to separate servers.
This is the standard infrastructure configuration with resilience against hardware failure.
The public web portal and front end database have been duplicated to allow for failover with minimal down time.