Revised timeline for Cayman Reporting Financial Institutions

On 11 May 2015, in response to continued system development and ongoing maintenance issues, the Cayman Department for International Tax Cooperation (DITC) issued an update (Link) revising the timeline for Cayman Reporting Financial Institutions. Under the new guidance, Cayman Reporting Financial Institutions must complete the required notification and FATCA year-end reporting by Thursday, 21 May and Friday, 12 June respectively. The update is expected to provide flexibility to the financial services industry in satisfying its FATCA reporting requirements under the terms of the U.S-Cayman Islands FATCA IGA.

Leave a reply

Your email address will not be published. Required fields are marked *

/* */