Further to our recent updates in relation to the opening of the Cayman Islands AEOI Portal ("Portal") for the purposes of Reporting Financial Institutions ("Reporting FIs") notifying the Department of International Tax Cooperation ("DITC") of their status and reporting 'Reportable Accounts', on 11 May 2015, the DITC issued a further advisory on the extension of deadlines for both notification and reporting.
Please click here for a link to the advisory.
Essentially, the notification deadline has been extended to 21 May 2015 and the reporting (of US Reportable Accounts) has been extended to 12 June 2015.
The advisory also notes that the Portal will be offline for ongoing maintenance until 13 May 2015.
For further information in relation to the use of the Portal and Reporting FI's 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 FATCA 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.