Cayman Islands FATCA Compliance Deadlines Extended Again
August 9, 2016
The Cayman Islands announced the further extension of the 2016 registration and reporting deadlines for U.S. FATCA and U.K. FATCA (also known as U.K. CDOT), as follows:
|Compliance Obligation||Old Deadline||Extended Deadline|
|Registration||August 10, 2016||September 2, 2016|
|Reporting||August 10, 2016||September 2, 2016|
Cayman Islands investment entities that have been classified as “Reporting Cayman Islands Financial Institutions” for purposes of U.S. and U.K. FATCA (or their “sponsoring entities,” if applicable) may register and file reports, as applicable, with the Cayman government by these extended deadlines without attracting adverse consequences or enforcement measures.
The FATCA reports that are subject to these extended deadlines relate to 2015 (for U.S. FATCA) and 2014-15 (for U.K. FATCA).
See the Foley Adviser dated June 25, 2016, for more information about the Cayman Islands registration and reporting process.