On May 11, 2015, the Cayman Islands announced the extension of
its FATCA registration and reporting deadlines, as follows:
May 12, 2015
May 21, 2015
May 31, 2015
June 12, 2015
Each Cayman Islands investment entity that has been classified
as a "Reporting Cayman Islands Financial Institution" for
purposes of FATCA (or its "sponsoring entity," if
applicable) should register with the Cayman government by the
extended May 12, 2015 deadline in order to comply
with its obligations under FATCA, regardless of whether it
will be required to file a 2014 FATCA report with the Cayman
government. See the Foley Adviser dated April 16, 2015
regarding upcoming FATCA compliance deadlines; click here for additional
To register, each Reporting Cayman Islands Financial Institution
(or its "sponsoring entity") must log on to the Cayman
FATCA reporting portal (click here) and submit a
simple online form, together with a PDF version of an authorization
of a principal point of contact.
Despite its earlier statement that the filing deadline for 2014
FATCA reports would not be extended beyond May 31, 2015, the Cayman
Islands Department for International Tax Cooperation
("DITC") announced that the reporting deadline would, in
fact, be extended to June 12, 2015. Accordingly,
each Reporting Cayman Islands Financial Institution (or its
"sponsoring entity") that has a reporting obligation with
respect to 2014 now has until June 12, 2015 to file its 2014 FATCA
report. "Nil reporting" is not required if a Reporting
Cayman Islands Financial Institution had no reportable accounts in
If reporting is required, the DITC has published detailed
guidance (click here) to assist with the
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.
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