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.
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.
