Regulatory reporting module

Streamline FATCA and CRS reporting with Bragi

Bragi’s regulatory reporting module simplifies FATCA and CRS reporting in four simple steps.

Detect errors with TIN validation

Bragi's regulatory reporting module identifies potentially incorrect country-specific TINs and provides you with warnings and guidance prior to the final submission. Introduce TIN validation as part of your client screening process and catch issues at the source.

Make code-free corrections

Start with the original submisssion and adjust the reporting template to make the required changes.

Create submissions for multiple organisations

Manage FATCA and CRS reporting for multiple organisations within the same module. You can easily switch between organisations, create separate submissions, and maintain compliance for each entity without duplicating effort.

STEP 1

Prepare

The tax reporting module exposes three custom views to the Bragi environment, covering the key elements of the submission - organisation details, client account details and controlling persons / substantive owners. Use Bragi to model source data in to the correct shape to populate these views.

Bespoke or adhoc reporting requirements or using data from outside Bragi? Use a pre-built Excel template to rapidly load the data in the required format.

STEP 2

Validate

Bragi’s tax reporting module applies a suite of automatic data validations to detect errors and issues in the data based on the underlying reporting schema, including country-specific tax identification number (TIN) validation.

Any detected issues are clearly highlighted, enabling you to review and amend the data at source, iteratively preparing the submission data as many times as needed until issues are resolved.

Build this workflow in to your client onboarding / screening processes to capture issues early!

STEP 3

Review

Bragi provides a built-in report summarising the submission data as well as full read out of accounts that will be included.

Use this report to perform any final checks.

STEP 4

Submit

Depending on the recipient tax portal, either submit directly using their API from within Bragi, or download a submission XML document and submit manually. Either way, the submission is guaranteed to be schema-compliant. Recipient jurisdictions with custom requirements (such as as encryption, ZIP packaging) are also supported.

"By utilising the TIN validation feature, we have been able to pre-validate our submissions greatly reducing the likelihood of corrections or resubmissions in the future, resulting in significant time savings. The ease of uploading pre-mapped templates has greatly simplified the process and the jurisdiction-specific XML output is consistently updated to meet the latest requirements, making it a dependable tool for our business needs. We will continue working with Cortex as a client-focused partner."

Kim Hunt Accounts Manager at Rocq Capital

Learn more about Bragi

Learn more about FATCA and CRS reporting in Bragi

Speak directly to Bragi’s co-founders, not a sales agent, and explore how Bragi can transform your data workflows.

Frequently asked questions

Which reporting schemas are supported?

We have comprehensive coverage for Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS).

Which reporting jurisdictions are supported?

We have comprehensive coverage for most offshore territories including, Guernsey, Jersey and the Isle of Man, as well as others such as Bermuda, Hong Kong and Singapore. Please contact us for a full list of supported jurisdictions.

How are relevant countries maintained each year?

If you are using our static data management module then these can be maintained by yourselves. We distil the guidance each year and provide amended lists of countries ahead of the reporting season.

How do we make submissions to the receiving tax portal?

Recipient tax portals vary from territory to territory. The most common method for making submissions is via a manual upload of an XML file which Bragi fully supports. Some tax portals accept automated submissions through an API which can also be achieved.

Can I create correcting submissions?

Full and partial corrections and deletions are fully supported and there is no code to modify. Simply start with the original submission and use our template to make the required changes.

Can I import data from previous submissions?

Yes! Assuming your previous submission was schema-compliant, we can import previous submissions that were not created with Bragi.

Is the reporting module only available through Bragi?

Bragi’s regulatory reporting module is designed to be integrated to create a seamless experience. However it is possible to use the module in a standalone configuration on our SaaS platform in the cloud.

Please contact us for more details or to discuss your requirements.