FATCA: Update Regarding US Reportable Accounts

The Cayman Islands Department for International Tax Cooperation (DITC) has advised that it is in the final stages of preparing its FATCA data to be provided to the IRS. Information on US Reportable Account Notifications and 2014 Returns for US FATCA should now be completed and successfully submitted.

It is anticipated that the Cayman AEOI Portal will close after 5:00pm (EST) on 28 August 2015 to facilitate this preparation. Please note that Nil Returns are not a mandatory requirement.

Return entries that are not completed and have the status of "No Data," "Ready to Submit" or "In Draft" should be reviewed and either be finalised and submitted, or removed, from the AEOI Portal.