The Cayman Islands Department for International Tax Cooperation has updated the relevant dates for reporting under the Foreign Account Tax Compliance Act and the Common Reporting Standard.

The reporting deadline for CRS and FATCA remains May 31. The department announced that the late filing of 2018 CRS and FATCA reporting before July 31, 2019, will not attract enforcement measures or penalties.

Reports submitted after July 31 may be subject to compliance reviews by the DITC.

In addition, the department has published a revised version of the Automatic Exchange of Information (AEOI) Portal User Guide.

The latest issue of the DITC’s AEOI News and Updates also provides updates on FATCA IRS error notifications, CRS status messages and accessibility of the country-by-country reporting portal.

If you value our service, if you have turned to us in the past few days or weeks for verified, factual updates, if you have watched our live streaming of press conferences or sent an article to a friend... please consider a donation. Quality local journalism was at risk before the coronavirus crisis. It is now deeply threatened. Even a small amount can go a long way to sustaining our mission of informing the public. We need our readers’ financial support now more than ever.