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ARTICLE · 19 APRIL 2016

Cayman Islands FATCA/CRS Compliance Deadlines (2016)

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Cayman Islands investment entities are currently subject to three separate regimes relating to financial account information reporting: U.S. FATCA, U.K. FATCA and the OECD Common Reporting Standard (CRS).

United StatesTax
Foley Hoag LLP
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Cayman Islands investment entities are currently subject to three separate regimes relating to financial account information reporting: U.S. FATCA, U.K. FATCA and the OECD Common Reporting Standard (CRS). Although these regimes are similar, each has its own unique set of rules. Accordingly, investment advisers that manage Cayman Islands investment entities should be aware of the separate compliance obligations under U.S. FATCA, U.K. FATCA and CRS. The following summary outlines the 2016 requirements.

Summary of 2016 FATCA/CRS Compliance Deadlines

Deadline Compliance Requirement Regime(s)
June 10, 2016* Notification U.S./U.K. FATCA
June 30, 2016 Due Diligence

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