1. New RCS registration requirements for natural persons in Luxembourg
The new requirements, effective as from 12 November 2024, require the registration of a Luxembourg national identification number (LNIN) for all natural persons involved with entities registered in the Trade and Companies Register (RCS), including, but not limited to, shareholders, partners, directors, managers or authorised representatives.
During the transitional period (i.e. until 1 October 2025), the LNIN must be provided only for a registration or modification linked to a natural person. After this transitional period, failure to comply with these new requirements will result in the inability to finalise filing procedures with the RCS, no matter if it relates to a natural person or not (e.g. filing of annual accounts, change of the registered address).
On 3 March 2025, the Luxembourg Business Register (LBR) announced that the specific formality of filing with the RCS, which allows the update of the LNIN of natural persons registered with the RCS, will remain free of charge until 31 May 2025. As from 1 June 2025, this service will be subject to the usual fee applicable to standard non-statutory filing.
Key take away: The new requirements require the registration of an LNIN for all natural persons involved with entities registered in the RCS, with deadlines to be respected. Incompliance with the registration obligation will result in failure to perform any filing for the companies.
2. FATCA & CRS update
The Luxembourg tax authorities launched on-site audits regarding the compliance of Financial Institutions ("FI") with their FATCA and CRS obligations for the years 2020 to 2022. Several FIs (including banks) have already been visited by the tax authorities and additional audits are expected in the coming months including the review of large samples of account holder records.
In addition to the review of procedures and conducting interviews, one of the main focuses of the tax authorities is the so-called "Register of Actions", i.e., how controls on the completeness and reasonability of the account holder documentation as well as exhaustivity and accuracy of the reporting, are documented.
Given the short response times required for these audits, it is important to have the right reports and oversight documentation readily available.
This will become even more important with the upcoming DAC 8 amendment to the CRS reporting. Indeed, as from the reporting year 2026, you will need to certify in your CRS report that all reported accounts have been duly documented with a valid (i.e., complete, and reasonable) self-certification.
Key take away: It is important to have the right compliance and oversight supporting documentation ready for tax authorities’ on-site audits regarding the compliance of FIs with their FATCA and CRS obligations.
Contact us
Xiaoyan Huang
Director, China Business Leader, Tax Specialist, PwC Luxembourg
Tel: +352 62133 38 20
François Guyot
Tax Managing Director, Entity Governance & Compliance, PwC Luxembourg
Tel: +352 621 333 162
