At VALR, we are committed to maintaining the highest standards of regulatory compliance and transparency. As part of this commitment, VALR is required to collect and report certain information under international tax frameworks like the Crypto Asset Reporting Framework (CARF) and Common Reporting Standard (CRS) set by the Organisation for Economic Co-operation and Development (OECD).
This article explains what information VALR is required to collect, why we need it, and how it affects your account.
What is VALR required to collect?
- VALR is required to collect a tax self-certification from you.
What is a tax self-certification?
- Tax self-certification is a formal declaration you provide to VALR regarding your tax residency and Taxpayer Identification Numbers (TINs).
Who needs to complete this?
- New Users: All individuals and entities opening a new VALR account from 1 March 2026.
- Existing Users: All individuals and entities onboarded before 1 March 2026 must complete their certification by 1 March 2027.
- Entities to note: All entities must provide tax self-certifications for their "Controlling Persons" (directors, owners, or individuals with significant control).
Frequently Asked Questions (FAQs)
1. Why is VALR asking for my tax information?
- Financial institutions worldwide are legally obligated to identify the tax residency of their customers. By collecting this data, we help ensure that the global financial system remains transparent and that tax obligations are met in the correct jurisdictions.
2. What is a TIN and where do I find it?
- A Taxpayer Identification Number (TIN) is a unique combination of letters or numbers assigned by your country’s tax office (e.g., SARS in South Africa, HMRC in the UK, or the IRS in the US).
Individuals: This is often your personal tax reference number or national ID number.
Entities: This is your business's registered tax number.
3. What if my country doesn’t issue a TIN?
- Some jurisdictions do not issue TINs. If this applies to you, our form will not display the TIN entry form upon selection of the jurisdiction.
4. What if I have multiple tax residencies?
- If you have more than one tax residency, you are obligated to provide information for all of them. You may do so by clicking on the “Add another residency” button within the flow provided at the end of this article.
5. I am an Entity/Business user. What are "Controlling Persons"?
- A Controlling Person is any natural person who exercises significant control over an entity. This typically includes:
- Shareholders with more than 5% ownership.
- Senior managing officials (CEOs/Directors).
- Trustees or Settlors (for Trusts).
6. What happens if my information changes?
- If you move to a new country, change your phone number to a foreign line, or change your legal name, your current self-certification may become invalid. You may reach out to our Support team to update this information. Please notify VALR as soon as possible after a change of your information. Failure to update your information may result in account restrictions or reporting based on the information available to us.
7. What happens if I don't complete the self-certification, or if I submit the self-certification with wrong information?
- To keep your account fully functional, a valid certification is mandatory. If the self-certification information is found to be contradictory with your user profile, VALR will notify you via email. You will then have 90 days to submit an updated certification. Failure to provide valid tax information within the requested timeframe (or the 90-day grace period for changes) may result in temporary restrictions on your ability to trade or withdraw funds.
8. I have submitted my tax information correctly but I am asked to redo the self-certification. Why is this happening?
- VALR uses certain benchmarks like the country of residence declared at signup, as well as onboarding documents (such as your national ID or passport) to determine whether your tax information is valid. If you have unusual circumstances, please add any additional information in the “Supporting details” text box upon resubmission of your self-certification.
9. How is my data protected?
- Your privacy is our priority. Your tax information is encrypted and stored securely. It is only shared with authorized tax authorities through secure, regulated reporting channels as required by law.
Please refer to our Privacy Policy here for further information
How to complete your certification
1. Log in to your VALR account via the web or mobile app.
2. On the webpage, navigate to Profile > Profile Overview > Complete your profile.
3. On the mobile app, navigate to Home > Complete your profile.
4. Follow the prompts to enter your tax residency and TIN details.
5. If you have more than one tax residency, remember to add all of them by clicking on the “Add another residency” button.
6. Review and confirm the self-declaration and click submit.
Need more help? If you’re unsure of your tax residency status, we recommend consulting a professional tax advisor, as VALR cannot provide specific tax advice. For technical issues with the form, please contact our support team.