Further to our last update in relation to the extension of deadlines for both notification and reporting by Reporting Financial Institutions ("Reporting FIs") through the Cayman Islands AEOI Portal ("Portal"), the Department of International Tax Cooperation has issued a further advisory confirming a final extension of both the notification and the reporting deadline in respect of US FATCA and UK FATCA (also known as CDOT) to Wednesday, 10 August 2016.
Reporting FI's are advised to leave sufficient time to complete their notification and reporting before Wednesday, 10 August 2016, particularly if they opt to conduct their notification and reporting concurrently.
For further information in relation to the use of the Portal and Reporting FIs' obligations on notification and reporting, please visit our dedicated FATCA and CRS webpage.
If you have any questions regarding the advisory or your obligations, or if you require assistance with the notification or reporting process, please speak with your usual Maples and Calder or MaplesFS contact. Additionally, you may contact any one of the above members of our AEOI team.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.