PFS announces CRS development pathway

Pacific Fund Systems has announced a development pathway to support the Common Reporting Standard ("CRS") for international tax exchange. This announcement reaffirms the company's commitment to expand existing functionality within its core application ‘PFS-PAXUS’ to permit fund administration firms to manage their clients Common Reporting Standard (CRS) obligations. Extensive automated FATCA functionality already exists in PFS-PAXUS, however with approximately 100 countries already signed up, CRS reporting obligations for financial institutions, fund administrators included, will introduce considerable additional and alternative data requirements to the existing FATCA standards. Please view the full announcement here