Novus FATCA CRS Compliance

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Overview: Novus Compliance is a RegTech platform that simplifies FATCA and CRS reporting for banks, funds, trusts, and other financial institutions. Built by Binari Software with 12+ years in IT and cybersecurity, it converts sensitive client data into audit-ready XML reports through a secure, automated workflow. The solution eliminates manual spreadsheet errors and ensures first-time acceptance by tax authorities. Key Features: • FATCA Model 1 & 2: Supports direct IRS filing (Model 2) and local tax authority reporting (Model 1) with compliant XML schemas. • CRS Reporting: Generates OECD CRS XML v3.0 files for 100+ participating jurisdictions, including multi-tax residency logic and corrected filings. • Automated XML Generation: Converts Excel/CSV data into fully compliant FATCA (v2.0.1) and CRS (v3.0) XML payloads. • Built-in Validation: Cross-checks TINs, GIINs, missing fields, and schema rules before filing to prevent rejection. • IRS IDES Transmission: Handles XML compression, AES-256 encryption, and IRS Public Key Certificate packaging for secure submission. • GIIN Verification: Instantly validates reporting status against current IRS records. • Multi-Jurisdiction Support: Manages separate XML files for different tax authorities and reporting models. • Audit Trail: Provides step-by-step visibility into data processing and filing status. Security & Compliance: • AES-256 encryption at rest and in transit. • IRS Registered Transmitter authorized for third-party transmission. • Strict data isolation and access controls; data never sold or shared. • Full auditability for compliance officers. Target Audience: Banks, mutual funds, insurance companies, custodial institutions, private trusts, and non-financial entities with FATCA/CRS obligations. Why Choose Novus Compliance: • 12+ years of cybersecurity and system architecture expertise. • Zero-error tolerance with validation designed for first-time acceptance. • Democratized compliance: robust encryption with an intuitive interface. • Scalable pricing based on filing volume; no hidden fees for standard schema updates.