Extension Of FATCA Notification Deadline

On 23 February 2015, the Cayman Islands Department for International Tax Cooperation ("DITC") announced that the Governor in Cabinet of the Cayman Islands had approved an extension to the notification deadline contained in Regulation 14(3) of the Tax Information Authority (International Tax Compliance) (United States of America) Regulations, 2014 (the "US Regulations").  Regulation 14(3) currently provides that each Reporting Financial Institution ("RFI") must notify the Cayman Islands Tax Information Authority (the "TIA") that it has reporting obligations by 31 March 2015.  We understand from the DITC announcement that the notification deadline will be extended to 30 April 2015.  A copy of the Amending Regulations giving effect to the extension have not yet been formally gazetted and are expected to follow shortly.  The notification information that is required to be submitted to the TIA under the US Regulations is as follows: