New Self-Compliance Questionnaire for CRS and FATCA purposes

The Malta Tax and Customs Administration (MTCA) has issued a notification to all Financial Institutions (FIs) falling within the scope of the Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) regulations, as per S.L. 123.127 Cooperation with Other Jurisdictions on Tax Matters Regulations (the ‘Regulations’).

The notification announces the release of a new Self-Compliance Questionnaire (SCQ) for CRS and FATCA purposes, which forms part of MTCA’s ongoing compliance monitoring of due diligence and reporting requirements under the Regulations. The SCQ is now available for completion by in-scope FIs, namely Reporting Maltese Financial Institutions (RMFIs) and Maltese Non-Reporting Financial Institutions (NRFIs) as defined in the Regulations.

Summary of relevant conditions and thresholds

All RMFIs and NRFIs are required to complete and submit the SCQ by 13 March 2026. The questionnaire is accessible via the MTCA website. A Guidance Note has also been issued to assist FIs in the completion of the SCQ. It is important that the completed questionnaire is submitted within the stipulated timeframe to ensure continued compliance with regulatory requirements.

Deloitte’s view

Deloitte Malta notes the introduction of the SCQ as a key development in the ongoing compliance monitoring process for CRS and FATCA obligations. Financial Institutions should review the requirements and ensure timely completion and submission of the questionnaire. We recommend that affected entities assess their current compliance procedures and seek guidance where necessary to ensure full adherence to the Regulations. Should you require assistance in determining how these provisions apply to your specific circumstances, please contact us.

For further information or support, please reach out to your usual Deloitte Malta contact.