On June 22, 2017, the Cayman Islands extended deadlines relating
to 2016 FATCA and Common Reporting Standard (CRS) compliance, as
follows:
| Compliance Obligation |
Old Deadline |
Extended Deadline |
| Notification (registration) |
June 30, 2017 |
July 31, 2017 |
| Reporting (for 2016) |
July 31, 2017 |
July 31, 2017 |
Notification (Registration)
Each "Cayman Financial Institution"1 must
register with the Cayman Islands Tax Information Authority (TIA)
for purposes of CRS by July 31, 2017, even if it has no reporting
obligations under CRS.
If a Cayman Financial Institution has already registered with
the TIA for purposes of FATCA, it must log-on to the Cayman
FATCA/CRS reporting portal and update its registration for CRS; it
cannot rely on its past FATCA registration(s) to satisfy its
registration obligation under CRS.
