2023 FATCA & CRS ALERT – REPORTING DEADLINE FOR CALENDAR YEAR 2022: CAYMAN ISLANDS

The FATCA & CRS reporting deadline is upon us. Entities classified as a Cayman Islands financial institution under FATCA & CRS must complete their FATCA & CRS reports on the Cayman Islands Department for International Tax Cooperation (“DITC”) portal by the annual filing deadline  31 July 2023, ahead of the annual filing deadline.

OTHER KEY UPCOMING FATCA & CRS FILING DATES:

31 July 2023: Complete and report annual FATCA & CRS reports along with the required  CRS declaration on the DITC portal.

15 September 2023: Complete and report the annual CRS compliance form on the DITC portal.

The Department for International Tax Cooperation (DITC) published the lists of CRS Participating Jurisdictions and CRS Reportable Jurisdictions in the Cayman Islands Gazette on Friday, 31 March 2023. Click here for Reportable Jurisdictions.

The CRS enforcement guidelines v1.4 March 2023 detail the potential fines for entities and certain individuals in respect of the CRS obligations. Click here for CRS enforcement guidelines.