The Inland Revenue (Amendment) (Automatic Exchange of Information) Bill 2026 passed its third reading on 17 June 2026 and was gazetted on 26 June 2026. The amendments strengthen Hong Kong's AEOI/CRS administrative framework and take effect on 1 January 2027.
The legislation introduces three principal changes. First, reporting financial institutions (RFIs) will be subject to mandatory registration requirements. Second, record-keeping and notification obligations are updated. Third, sanctions for non-compliance are strengthened, with penalties now linked to the number of financial accounts involved.
The amendments respond directly to deficiencies identified in the OECD's 2024 second-round peer review of Hong Kong's AEOI framework. A separate bill addressing more substantive changes arising from the amended CRS standard is planned to take effect on 1 January 2028.
RFIs should review their compliance policies promptly and begin preparing for the operational changes required by the January 2027 commencement date.