Further to our previous alert, the Department for International Tax Cooperation ("DITC") has issued an industry alert, revising notification dates for US FATCA and CRS and confirming that a new Automatic Exchange of Information Portal User Guide (the "AEOI Portal User Guide") is available.
New AEOI Portal User Guide v.3.2
The DITC has published a new AEOI Portal User Guide v.3.2.
Notification Obligations: US FATCA and CRS
All Cayman Financial Institutions must register on the AEOI Portal for US FATCA and CRS or vary their existing US FATCA/UK CDOT registration to add the CRS, even if they have no reporting obligations. The deadline for this has been extended to 31 July 2017.
Reporting Obligations: US FATCA and CRS
The AEOI Portal is now open and available for CRS Reporting. Reporting under US FATCA and CRS must be completed by 31 July 2017.
CRS Reportable Jurisdictions
A revised list of CRS Reportable Jurisdictions has been published. Please note that Barbados, Curaçao and Niue will now be Reportable Jurisdictions for reports due in 2018 onwards instead of 2017.
Entity and Individual Self-Certifications available on webpage
Revised Entity and Individual Self-Certifications are now available at http://www.tia.gov.ky/pdf/CRS_Legislation.pdf in fillable form format.
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