The CRS wants not only to know who owns an account, but also where the account holder can be found. Address is so important that it is a must field. Without it, a financial institution did not properly report. To locate an Account Holder we can enter several addresses indicating the type of address as:
residentialOrBusiness, residential, business, registeredOffice, or unspecified.
Imagine the world as a big and scary place, where it is not enough to list Street, BuildingIdentifier, SuiteIdentifier, FloorIdentifier, DistrictName, POB, PostCode, City and CountrySubentity but something like: after the third tree behind the third bush under the third rock.
This troglodyte could not be caught if we had to enter the address in the previously introduced structured address field. Troglodytes have to pay taxes like everyone else and hence the OECD offers us a free address where the text flows as freely as the wind blows around our paradisical dwelling.
Whereas under the structured form field the field City was mandatory (nothing else), the free form field´s requirements are met under the CRS XML schema, if an entry was made with length zero. John Doe, residing at “”.
I for my part are saving my cash to acquire an abode at an address of type unspecified which does not fit into a structured address field and hence is reported in the free address field in a length of zero characters, if not for tax avoidance purposes but at least for the good weather.
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