The Department for International Tax Cooperation (DITC) released a final extension notice further extended the reporting deadline for both U.S. FATCA and Common Reporting Standards (CRS) to August 31, 2017. This is the final extension and no further extensions will be given.
All Cayman Financial Institutions whose first reporting year is 2016 must submit a U.S. FATCA and CRS notification of filing by July 31, 2017, even if they have no reportable accounts.
The Automatic Exchange of Information (AEOI) portal will be taken offline at 4:00pm on August 31, 2017, therefore, Arthur Bell advises our clients and friends to ensure their filing obligations are completed as soon as possible.
If you have any questions or would like to discuss your foreign reporting requirements, please contact your Arthur Bell advisor at 855-787-0001 or via email at email@example.com.