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ARTICLE · 05 JUNE 2015

BVI FATCA Compliance Deadlines Extended

Foley Hoag LLP
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Each Reporting BVI Financial Institution (or its "sponsoring entity") that has a reporting obligation with respect to 2014 now has until July 31, 2015 to file its 2014 FATCA report.

United StatesTax
Foley Hoag LLP
Foley Hoag LLP
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This week the British Virgin Islands (BVI) announced the extension of its FATCA registration and reporting deadlines, as follows:

Compliance Obligation

Old Deadline

Extended Deadline

Registration

June 1, 2015

June 30, 2015

Reporting

June 30, 2015

July 31, 2015

Registration

Each BVI investment entity that (A) has been classified as a "Reporting BVI Financial Institution" for purposes of FATCA (or its "sponsoring entity," if applicable), and (B) is required to file a 2014 FATCA report with the BVI government, should register with the BVI International Tax Authority (ITA) by the extended June 30, 2015 deadline in order to comply with its obligations under FATCA.1

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