As you may be aware, 31 July 2022 is the next deadline for CRS and FATCA reporting with the Cayman Department for International Tax Cooperation (DITC), followed closely by the 15 September 2022 CRS Compliance Form deadline.
The DITC has stated that it will consider appropriate compliance and enforcement action where misclassification and non-compliance (including failure to register with the DITC) is discovered, including administrative penalties or fines. Please see the CRS enforcement guidelines here.
For more information on the CRS Enforcement Guidelines, read Ogier's recent Cayman Islands funds and regulatory update for Q1 2022.
The deadlines for the 2021 reporting period are as follows:
- Registration (notification) - 30 April 2022
- 2021 CRS Reporting - 31 July 2022
- 2021 CRS Filing Declaration - 31 July 2022
- 2021 FATCA Reporting - 31 July 2022
- 2021 CRS Compliance Form - 15 September 2022
How can Ogier Global help?
Where Ogier Global has been engaged to provide FATCA/CRS compliance services, the relevant FATCA and CRS reporting will be completed and filed with the DITC ahead of the respective deadline.
If you require assistance with completing and submitting your Cayman Islands entities' FATCA and CRS reporting prior to the deadline, please reach out to a member of Ogier Global's dedicated AEOI (FATCA / CRS) Compliance team.