Forum on US tax obligations

An information session on US tax obligations is being held at the Marriott Grand Cayman Resort today (Tuesday, 19 April) for Caymanians with US passports, US citizens, Green Card holders, long-term non-residents of the US and financial institutions.

The seminar will cover new provisions and directives of the Foreign Account Tax Compliance Act, effective 1 January, 2013.

FATCA aims to detect US taxpayers who have not declared income and offshore assets to the IRS by imposing a 30 per cent tax withholding on payments to foreign financial institutions, such as banks, investment funds and trusts that fail to identify US account holders and their assets and report them to the IRS.

Session 1 for Financial Institutions, runs from 9am-12.30pm. Session 2 for US citizens, Green Card holders and long-term non-residents is from 1.30-5pm.

There is no cost and no registration is required. A networking reception from 5-7pm is also open to the public. The sessions are offered by the Office of the Premier and Ministry of Finance in conjunction with Cayman Finance.

A networking reception from 5-7pm is also open to the public.

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2 COMMENTS

  1. I certainly hope that the people that went to the meeting today learned of how this country has sold out it’s citizens. There are thousands of Caymanians who got US Passports and never filed with the IRS in their life.If you did not in a lot of cases when and if you decide to file you will owe just about everything that you have worked for your whole life. Don’t let these Accountants frighten you into coming forth. What will this government do when Caymanians of every stature get prosecuted by the US. This is going to be very interesting.

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