Zero Cash Value Policies and CRS Avoidance

According to the Common Reporting Standards (CRS), insurance companies are required to report the cash value of policies held by policyholders to the tax authorities in their country of tax residence. As a result, some insurance companies claim that their "Zero Cash Value Insurance," which has no cash value, can successfully evade the Common Reporting Standards. In this article, we will discuss whether these insurance companies' views align with CRS regulations.

This article references global CRS expert Mark Morris's publication titled "What's with the insurance industry not comprehending Zero Cash Value policies are not a CRS solution?" released on April 17, 2024.