Description

BSE postpones the implementation of revised FATCA/CRS document ID types from December 2, 2025 to December 16, 2025 on BSE StAR MF platform, requiring members to update their systems accordingly.

Summary

BSE has postponed the implementation of revised FATCA/CRS document ID types received from RTAs (Registrar and Transfer Agents) on the BSE StAR MF platform. The implementation, originally scheduled for post-market hours on December 2, 2025, has been rescheduled to December 16, 2025. This update provides members with additional time to complete necessary system developments to accommodate the revised document ID types as specified in Annexure II of Notice No. 20251103-46 dated November 3, 2025.

Key Points

  • Implementation of revised FATCA/CRS document ID types postponed by two weeks
  • Original implementation date: December 2, 2025 (post-market hours)
  • New implementation date: December 16, 2025 (post-market hours)
  • Revised document ID types received from both RTAs as per Annexure II
  • Members using third-party vendor solutions or in-house applications must initiate necessary development
  • References earlier Notice No. 20251103-46 dated November 3, 2025

Regulatory Changes

The circular updates the implementation timeline for revised FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) document ID type requirements on the BSE StAR Mutual Fund platform. The revised document ID types represent changes to how tax compliance information is captured and validated for mutual fund transactions, aligning with RTA standards.

Compliance Requirements

For All BSE Members:

  • Review the revised document ID type specifications in Annexure II of Notice No. 20251103-46
  • Update trading systems to accommodate new FATCA/CRS document ID types
  • Complete system development and testing before December 16, 2025
  • Members using third-party vendor solutions must coordinate with vendors for updates
  • Members with in-house developed trading applications must arrange internal development resources
  • Ensure systems are ready for activation post-market hours on December 16, 2025

Support Resources:

  • Mutual Fund Helpdesk: 022-45720450/650 and 022-69158550
  • Helpdesk hours: 8:00 AM to 7:00 PM on business days
  • CRS Portal for queries: https://bsecrs.bseindia.com

Important Dates

  • November 3, 2025: Original notice issued (Notice No. 20251103-46)
  • December 1, 2025: Postponement notice issued
  • December 2, 2025: Original implementation date (now postponed)
  • December 16, 2025: New implementation date (post-market hours)

Impact Assessment

Operational Impact: The postponement provides members with additional time to complete system modifications, reducing implementation risk. Members must prioritize development activities to meet the revised December 16, 2025 deadline.

Market Impact: Minimal direct market impact as this is a backend compliance and operational change. However, failure to update systems by the deadline could affect members’ ability to process mutual fund transactions requiring FATCA/CRS documentation.

Compliance Impact: Members must ensure their systems are compliant with revised FATCA/CRS document ID requirements to maintain uninterrupted mutual fund trading operations. The extended timeline allows for more thorough testing and validation of system changes.

Impact Justification

Medium importance as it affects mutual fund platform operations and requires members to update systems, but provides extended timeline for compliance. Impacts operational readiness for FATCA/CRS reporting requirements.