The Cayman Islands Department for International Tax Cooperation ("DITC") has announced updates regarding the AEOI regime.
Extended 2017 deadline for notification for FATCA and CRS
The deadline for notification has been extended to 31 July 2017. All Cayman Financial Institutions must register on the AEOI Portal for FATCA and the CRS or vary their existing FATCA / UK CDOT registration to add the CRS, even if they have no reporting obligations. The deadline for FATCA and CRS reporting this year remains 31 July 2017.
AEOI Portal User Guide v3.2
The AEOI Portal User Guide v3.2 has been published, including:
- new sections on IRS error notifications (arising from US FATCA returns submitted in 2017) for 2016 US FATCA returns; and
- CRS Reporting.
CRS Reportable Jurisdictions
A revised list of CRS Reportable Jurisdictions has been published. Barbados, Curaçao, and Niue will now be Reportable Jurisdictions for reports due in 2018 onwards instead of 2017. http://www.tia.gov.ky/pdf/CRS_Legislation.pdf.
Entity and Individual Self-Certifications
New Entity and Individual Self-Certifications are now available on the webpage.
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