TRSuite Release Notes Version 20.03

Welcome to the release notes for TRSuite version 20.03. Read these release notes thoroughly before you install the latest update, as they contain information the User Guide documentation may not cover. Release 20.03. and later requires a valid support license valid after 1st of March 2020.

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Bug: HK Module: Excel Import: empty Controlling Person generates error during import (TRSUIT-51)

If the Excel-Datasource contains any empty Controlling Person for an organisation the import process reports errors (can be ignored). Since version 20.03 the import runs without errors.

 

Improvement: IDES Module: Validation, if working directory is accessible (TRSUIT-14), improved error message (TRSUIT-27)

Additional check for IDES configuration validation and processing: if working directory is not accessible / writeable a proper error message is shown. In previous versions the processing stopped with a cryptic error message.

 

Improvement: IDES Module: Save HCTA processing option

In case the user enables the "Encrypt AES key with public key of HCTA" stepp during the transmission archive creation, the step remains enabled next time the application is started.

 

Bug: SEI Module / FATCA: FilerCategory and AccountClosed should not be used for 2014/15

If FATCA reports are generated for reporting year 2014 / 2015 the both elements FilerCategory and AccountClosed should not be included for tax years 2014 and 2015, but is required for 2016 and later years (source: https://www.irs.gov/pub/irs-pdf/p5124.pdf).

 If the Reporting Period is 2014 or 2015 TRSuite does not generate the two elements within the FATCA XML report.

 

Bug: SEI Module: SEI File size splitting, last delivery package not written

If the last package exceeds the max file size and requires splitting the last delivery package is not properly created. Fixed since 20.03.0.0

 

Improvement: FATCA Reporting for SG: Adapt changes for SG Reporting

With effect from 1 April 2020, Reporting SGFIs must submit all FATCA returns, including nil returns (if applicable), electronically to IRAS via the “Submit CRS or FATCA Return” e-Service at IRAS’ myTax Portal. The Supplementary Guide provides additional guidance on how the information for certain data elements must be presented for the purpose of FATCA reporting to IRAS via myTax Portal with effect from 1 April 2020. (source: SG new supplementary XML guide).

Since version 20.03.0.0 TRsuite supports the described requirements. Once the transmitting country is set to SG, the specific ruleset for SG reporting is active. Automatically the receiving country is set to SG and the message reference ID is generated according the new guide.