Introducing trXi, an economical and effective new CRS and FATCA submission tool created in Guernsey that is compatible with Version 3 of the CRS Schema. The trXi application can be used to easily collate data and make CRS or FATCA submissions to the relevant authorities, such as via the IGOR tool in Guernsey. Please select the sections below to find out more.
trXi is compliant with version 3 of the CRS schema, which is coming into effect from the end of 2026, as well as compatible with the existing version 2 of the schema. It allows input of new data elements such as the type of due diligence procedure, whether self-certification has been obtained and details on joint accounts.
trXi will check the format of individual TINs against the required format(s) for each country of tax residence. This will then allow you to make sure that you are submitting valid TIN data to tax authorities. This check can be run at any time. The application will also check for duplication of TIN numbers and usage of default or repeating TINs.
A comprehensive set of validation checks can be carried out using the trXi application before making CRS or FATCA submissions. The severity of any data validation messages is demarcated between Information, Warning, Error and Critical messages to help to ensure that relevant corrective steps are taken.
Each account record can contain data for an individual or a legal entity. The application will hold data in each account record for an unlimited number of controlling persons or substantial owners for each legal entity, with up to three TINs per individual, entity or controlling person/substantial owner. It is possible to enter free-form or fixed form addresses.
The trXi application allows the list of reportable countries to be maintained for each reporting jurisdiction, based on information provided by the relevant authorities. It also allows custom country-related warning messages, such as for jurisdictions where there is an increased risk of Citizenship or Residence by Investment.
The trXi application is integrated with Microsoft Excel. It is compatible with Microsoft Office 365. It can be run on current Windows or Mac platforms. To run the tool, you just need to have a relevant version of Microsoft Office installed that includes Microsoft Excel.
The trXi application allows remote submissions to be carried out to the Guernsey submissions portal (IGOR) via a remote API interface, avoiding the need to log into IGOR to make submissions directly. The trXi application can also obtain information on all submissions made into IGOR, saving time.
If you would like a demonstration, please get in touch. The trXi application is available on either a standalone licenced basis or as part of a managed service for performing data collation and submissions.
