FATCA & CRS Update Q3 2018

The Department for International Tax Cooperation has advised that the AEOI Portal is currently online and open for notifications and reporting for all years.

Users have been advised to submit any outstanding reporting as soon as possible. Cayman Financial Institutions (CFIs) with CRS reporting obligations are reminded that these obligations will not be regarded as complete, even if they have no reportable accounts, until they have successfully submitted a CRS Filing Declaration for the relevant reporting period.

IRS Error Notifications

If you have received an IRS notification for any FATCA return via email, please read the AEOI News and Updates information published by the DITC before attempting a correction, or contacting the AEOI Portal Team (http://www.tia.gov.ky/pdf/AEOI_News_&_Updates.pdf).

CRS Error Notifications

Principal Points of Contact will be informed via email if a correction to a 2017 CRS return is required. Guidance on submitting CRS corrected returns can be found in Module V, Section 4, Page 97 of the User Guide (http://tia.gov.ky/pdf/User_Guide.pdf).