### Inland Revenue Ordinance 《稅務條例》

50C. Obligations of reporting financial institutions to furnish returns
(1) A reporting financial institution must furnish a return in accordance with a notice given by an assessor under subsection (2) and in compliance with subsections (4) and (5).
(2) An assessor may give a notice in writing to a reporting financial institution requiring it to furnish a return reporting the information referred to in subsection (3) (required information) in relation to reportable accounts with respect to any reportable jurisdiction that are maintained by the institution at any time during the period specified in the notice (specified information period), which must be either of the following—
(a) the calendar year preceding the year in which the date of the notice falls;
(b) such other period as the Commissioner may decide in appropriate cases.
(2A) However, the specified information period for a reportable jurisdiction may not cover any period that is earlier than the date on which the jurisdiction becomes a reportable jurisdiction. (Added 5 of 2018 s. 7)
(3) The required information is—
(a) the information referred to in sections 50F and 50G; and
(b) any other information that the Board of Inland Revenue specifies.
(4) The return under subsection (1) must be furnished—
(a) within the time specified in the notice;
(b) in the manner specified in the notice; and
(c) in the form of an electronic record that—
(i) is sent by using a system specified by the Board of Inland Revenue; or
(ii) contains the required information arranged in a form specified by the Board of Inland Revenue.
(5) If, during the specified information period, the reporting financial institution maintains no reportable accounts, the institution must state that fact in the return.

### Inland Revenue Ordinance 《稅務條例》

50D. Further obligations of reporting financial institutions relating to returns
(1) A reporting financial institution must keep sufficient records to enable the correctness and accuracy of the return furnished under section 50C(1) to be readily ascertained for a period of 6 years beginning on the date on which the return is furnished.
(2) A reporting financial institution must give a notice to the Commissioner when any of the following events occur—
(a) the first occasion on which it commences to maintain a reportable account;
(b) one year has lapsed after it ceased to maintain even a single reportable account;
(c) the first occasion on which it commences to maintain a reportable account following the occurrence of an event described in paragraph (b).
(3) If a reporting financial institution—
(a) has given a notice to the Commissioner under subsection (2)(a) or (c) (first notice); and
(b) has changed its address after the first notice but before a notice is given under subsection (2)(b),
it must notify the Commissioner of its new address.
(4) A notice under subsection (2) or (3) must be given—
(a) in the form of an electronic record that is sent by using a system designated by the Commissioner;
(b) in the manner that the Commissioner specifies; and
(c) within the following period—
(i) for a notice under subsection (2)—3 months from the date on which the event occurred;
(ii) for a notice under subsection (3)—1 month from the change of the address.

50E. Application of due diligence and other obligations to non-corporate reporting financial institutions
In relation to a reporting financial institution that is not a corporation, sections 50B, 50C and 50D apply to a person who acts for the institution to maintain financial accounts as if the obligations under those sections were imposed on that person.

### Inland Revenue Ordinance 《稅務條例》

50G. Modifications of required information
(1) Despite section 50F(2)(a), (b) and (c)—
(a) for a reportable account that is a pre-existing account maintained by a reporting financial institution—
(i) if the TIN or date of birth is not kept in the records of the institution and is not otherwise required to be collected by the institution under the laws of Hong Kong, the TIN or date of birth is not required to be reported; but
(ii) subject to paragraph (b), the institution is required to use reasonable efforts to obtain the TIN and date of birth by the end of the second calendar year following the year in which the account is identified as a reportable account;
(b) for a reportable account, the TIN is not required to be reported if—
(i) a TIN is not issued by the relevant reportable jurisdiction; or
(ii) (where a TIN is issued by the relevant reportable jurisdiction) such TIN is not required to be collected under the domestic law of the jurisdiction;
(c) the place of birth is not required to be reported unless the reporting financial institution is otherwise required to obtain and report it under the laws of Hong Kong and it is available in the electronically searchable data maintained by the institution.
(2) Despite section 50F(2)(f)(iv), the information under that section—
(a) is not required to be reported with respect to the calendar year of 2017; and
(b) is only required to be reported with respect to the calendar year of 2018 and onwards.

50H. Engagement of service provider
(1) A service provider may be engaged to carry out, for or on behalf of a reporting financial institution, the institution’s obligations under any, or all, of the following provisions—
(a) section 50B(1);
(b) section 50B(2);
(c) section 50C(1).
(2) To avoid doubt, even if a service provider has been engaged under subsection (1), the reporting financial institution is not relieved from its obligation under section 50B(1) or (2) or 50C(1), as the case requires.

### Inland Revenue Ordinance 《稅務條例》

50I. Commissioner may designate system or specify requirements for electronic record, etc.
(1) The Commissioner may designate any system in respect of any communication with the Commissioner for the purposes of section 50C or 50D.
(2) The Commissioner may by notice published in the Gazette specify requirements as to—
(a) the manner of generating or sending an electronic record or any attachment required to be furnished with an electronic record;
(b) how a digital signature is to be affixed to a return furnished under section 50C(1); and
(c) the software and communication in relation to any attachment required to be furnished with an electronic record.
(3) A notice under subsection (2) is not subsidiary legislation.

50J. Power to amend Schedules 17C, 17D and 17E
The Secretary for Financial Services and the Treasury may, by notice published in the Gazette, amend Schedule 17C, 17D or 17E.

50K. Use of information provided by reporting financial institutions
To avoid doubt, any information reported in a return furnished under section 50C may be used for the administration or enforcement of this Ordinance.