Cayman Islands: Automatic exchange of information – further update
- Common Reporting Standard (CRS);
- US Foreign Account Tax Compliance Act;
- UK Crown Dependencies and Overseas Territories International Tax Compliance Regulations (UK CDOT); and
- EU Savings Directive.
- Early May 2017 – new AEOI portal user guide available for the CRS, US Foreign Account Tax Compliance Act and UK CDOT.
- Week beginning May 10 2017 – the CRS and US Foreign Account Tax Compliance Act notification and registration function available on theAEOI portal.
- Week beginning June 12 2017 – CRS and US Foreign Account Tax Compliance Act reporting function available on the AEOI portal.
- June 30 2017 – CRS and US Foreign Account Tax Compliance Act notification and registration deadline for Cayman financial institutions.
- July 30 2017 – CRS and US Foreign Account Tax Compliance Act reporting deadline for Cayman reporting financial institutions, for the 2016 reporting year.
- July 31 2017 – deadline for correcting any errors for US Foreign Account Tax Compliance Act reports for 2014 and/or 2015.
- December 31 2017 – the review of pre-existing lower value individual accounts and pre-existing entity accounts for CRS purposes must be completed.
- all information that would be reportable under UK CDOT; and
- if it has reporting obligations under the CRS, any information that is reportable under the CRS for the United Kingdom as a reportable jurisdiction which is not already reported above.
Published June 29, 2017
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