Cayman AEOI: FATCA And CRS Reporting For Fund Managers

The Automatic Exchange of Information ("AEOI") provides an international framework through which financial institutions can share key data about accounts and transactions as part of a global push to combat global tax evasion. AEOI incorporates due diligence and regulatory reporting requirements under the Foreign Account Tax Compliance Act ("FATCA") and the Common Reporting Standard ("CRS"). While these efforts play a vital role in stanching funding of international crimes and illicit activities, compliance with AEOI can lead into an increased administrative burden rife with significant amounts of regulatory paperwork. The Maples Group has deep experience in providing up-to-the-minute legal advice and financial services solutions that support compliance with regulatory requirements under AEOI. There are a number of key considerations for investment managers for AEOI regulatory reporting going into the next reporting season and beyond.