Cayman FATCA Notification & Reporting Deadlines Extended to September 2016
Further to our previous update in relation to the deadlines for both notification and reporting by Reporting Financial Institutions ("Reporting FIs") through the Cayman Islands AEOI Portal (the "Portal"), the Department of International Tax Cooperation has issued an advisory confirming a further extension of both the notification and the reporting deadlines in respect of US FATCA and UK FATCA (also known as CDOT) to Friday, 2 September 2016.
Reporting FIs are advised to leave sufficient time to complete their notification and reporting before Friday, 2 September 2016, particularly if they opt to conduct their notification and reporting concurrently.
For further information in relation to the use of the Portal and Reporting FIs' obligations on notification and reporting, please visit our dedicated FATCA and CRS webpage.
If you have any questions regarding 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 AEOI team.