Deadline for submission of 2022 FATCA & CRS reports (including reportable accounts and CRS filing declarations) is 31 July 2023.
All Cayman Islands entities classified as a financial
institution under FATCA & CRS (In-scope entities) must complete
and file their annual FATCA & CRS reports for 2022 (including
reportable accounts and CRS filing declarations) by
Monday 31 July 2023. In-scope entities must be
registered and use the Cayman Islands Department for International
Tax Cooperation (DITC) portal to complete this
filing. Administrative penalties may be levied by the Tax
Information Authority against an In-scope entity or an individual
for a failure to meet the 31 July deadline.
In-scope entities must also file their CRS Compliance Form by the 15 September 2023 on the DITC portal.
Both Appleby and the DITC have published guidance on FATCA and CRS filings and requirements. The CRS Enforcement Guidelines are available here and the general DITC CRS Guidelines are available here. Appleby's guidance on FATCA and CRS can also be accessed here.
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.