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ARTICLE · 13 APRIL 2016

Cayman Islands Automatic Exchange of Information Update – April 2016

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Unless otherwise stated, capitalised terms used herein shall have the meaning given to them in prior updates.

Cayman IslandsFinance and Banking
Tim Clipstone
Tim Clipstone
Christopher Capewell
Christopher Capewell
Tim Dawson
Tim Dawson
Tim Frawley
Tim Frawley
Patrick Head
Patrick Head
Martin Livingston
Martin Livingston
Alasdair Robertson
Alasdair Robertson
Tahir Jawed
Tahir Jawed
Andrew Quinn
Andrew Quinn
+3 more
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Unless otherwise stated, capitalised terms used herein shall have the meaning given to them in prior updates.

FATCA Notification and Reporting Deadlines Extended

The Cayman Islands Department for International Tax Cooperation ("DITC") has issued an industry advisory advising that it will be adopting a soft approach to the upcoming 30 April notification deadline for US and UK FATCA and 31 May reporting deadline for both US and UK FATCA for 2016.

According to the advisory, Cayman Islands reporting financial institutions that submit notifications for US and UK FATCA to the DITC on or before Friday, 10 June 2016, and file returns for both US and UK FATCA on or before Friday, 8 July 2016, will not attract any adverse consequences or enforcement measures.  

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